Carpool Community Zimride Lands $1.2 Million In Seed Funding

Social ride-sharing start-up and FBfund recipient Zimride announces today a round of seed funding led by FLOODGATE, K9 Ventures and a group of angels including Keith Rabois and Teddy Downey.

Co-founded by Logan Green and John Zimmer, Zimride is a carpool startup that actually makes money, using the Facebook platform to allow people in the same networks to coordinate carpooling. The service is also available at via Facebook Connect.

Future plans for Zimride include further expansion; Zimride currently is the only carpool community that serves a swath of prominent universities and corporations including Stanford, USC, UCLA, UCSF, Cornell, Harvard, University of Michigan and CIGNA.

Says Green “Nobody is doing what we’re doing, in taking a social ride share product to organizations.” The Zimride freemium business model is quite nifty as well; the first 50 users within a given network can sign up for free, and the organization has the option of signing up for a subscription past that. Thus far people have been very receptive.

Green also tells TechCrunch that Zimride will be putting its latest financing towards improving its mobile application and investing in user experience as well as expanding its user base,
“The holy grail of ride-sharing is figuring out how to engage users in a ride sharing program. We reach critical mass when we get 10-20% of an organization signed up.”

With this current seed round, Ann Miura-Ko, a partner at FLOODGATE, will be joining Zimride’s Board of Directors. Manu Kumar, founder of K9 Ventures will come on as a board observer. Zimride is also hiring for engineers and designers at