Lockstop Founder Seeks $1.5 Million Seed Round for Team and Pilots
Mike Burton · Bike Theft is a $1B Crisis—Watch This Founder’s $1.5M VC Pitch · Mar 5, 2025 · at 4:54
Mike Burton pitches Lockstop to venture capitalists on The Pitch, outlining the company's funding ask and capital allocation plan.
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“Now in order to continue to scale and bring this value to communities, we're raising 1.5 million dollars to continue to grow our team, scale our pilot programs, and continue to commercialize the device.”
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More from Mike Burton
Burton: Lockstop Devices Generate $750 Annually From Data Monetization
“So each device generates about 750 dollars a year on its own.”
Burton: Lockstop Enforces a Strict $100,000 Minimum Check Size
“I absolutely hate to say this, especially on YouTube, but we've left the 50 K checks on the table, so we don't allow any investments under a hundred K.”
Lockstop: Competitors Cost 5 to 100 Times More and Require Heavy Infrastructure
“But those existing solutions that are out there, like Uni and Bike Keep, cost five to a hundred times the cost of a lock stop device. They require infrastructure and a lot of space allocation.”
Burton: Lockstop expects to break even within 24 months
“In 24 months is when we expect to hit our break-even point, and so that 1.5 takes us all the way to that position where we're generating our own revenue and we're floating our own boat.”
Burton: Physical Municipal Hardware Is Hard to Disrupt Once Installed
“Anything that's hard to do is hard to disrupt. And there's a lot of SaaS and AI going on in the market right now, and for us, it's like, once we have a hardware component there, it's very difficult to remove, just because the city doesn't want to have to make …”