Zagster has made layoffs almost a month after announcing a $15 million growth equity round led by Edison Capital Partners.
The company told BostInno on Tuesday that an unspecified number of employees were laid off as part of a restructuring plan.
"Zagster went through a restructuring to more properly align the company with the rapidly accelerating consumer market opportunity in bike sharing and shared mobility overall," the company wrote in a statement. "As part of this restructuring, some employees were let go. We're extremely appreciative of their contributions to Zagster and are working with impacted employees to help them through this transition."
In February, the $15 million financing brought the company’s total funding to $32.2 million. Zagster, which has offices in Cambridge, Mass. and San Francisco, launched in 2007 and operates more than 200 bike-shares across 35 states in the U.S.
