Tempo offers a membership service providing physical security badges and a replacement warranty for electric bikes. These badges deter theft and aid in recovery using QR codes and patented UV technology. If an ebike is stolen and not recovered, Tempo provides up to $2500 toward replacement without a deductible or depreciation.
Funding
$2.7M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Bike theft is a significant deterrent to cycling, particularly for expensive bikes and e-bikes, as traditional insurance is often costly, has deductibles, and depreciates the value of the bike. Current methods of bike identification and recovery are often insufficient, leaving owners with limited recourse when their bikes are stolen.
Solution
Tempo provides a theft protection service for bicycles, offering an alternative to traditional insurance with a focus on theft deterrence and recovery assistance. The service includes patented UV and QR code badges that are applied to the bike, making it less attractive to thieves and easier to recover if stolen. If a Tempo-protected bike is stolen and not recovered, the owner can claim up to $2,500 to replace it, with no deductible or depreciation. Tempo partners with bike shops and integrates security technology from the automotive industry to provide comprehensive theft protection.
Target Audience
Tempo's primary customers are cyclists, particularly e-bike owners and those with bikes valued under $2,500, who are seeking affordable and comprehensive theft protection without the drawbacks of traditional insurance.
Features
- Patented UV badge with a unique ID and phone number, visible under UV light, that remains on the bike even if the badge is removed.
- QR code badge that links to a unique webpage for the bike, informing potential buyers (including thieves) that the bike is protected and allowing people to share information about the bike with Tempo.
- If the bike is reported stolen, the bike's webpage displays a notification asking for help in recovering the bike.
- Theft replacement warranty that pays the original retail price of the bike, up to $2,500, if the bike is stolen and not recovered after a 45-day recovery period.
- Badges can be transferred to a new owner if the bike is sold.