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Mountain Bikes Built for the Wild

At Esker, we make mountain bikes you’ll enjoy throughout the entire ride, no matter where the trail takes you. Using Orion Dynamics, a patented, state-of-the-art suspension system, we design each and every bike to provide peak durability, performance, and versatility - all assembled in the Flathead Valley in Montana. As more and more people opt for the outdoors, Esker bikes are ready to ride wherever you choose to roll.

This Reg CF offering is made available through StartEngine Capital, LLC. This investment is speculative, illiquid, and involves a high degree of risk, including the possible loss of your entire investment.

$358,127.08 Raised


The global bicycle market size was valued at over $54B in 2020, with demand continuing to outpace inventory. Raising capital will allow us to rapidly expand production, and in turn, will open the door for us to supply a greater number of dealers than we’ve been able to thus far.

Esker Cycles are built with the state-of-the-art Orion Suspension System, licensed from mountain bike suspension expert and industry veteran Dave Weagle.

Our hybrid DTC/dealer model fuels steady, organic growth, while achieving competitive prices and above-average margins.

Mountain bikes for unbridled adventure

Esker is a rider-owned mountain bike company fueled by the combined experience of industry veterans, an unwavering commitment to quality, and the desire to challenge traditional methods.

We assemble our bikes to order right here in Montana, enabling us to create custom combinations of top-performing frame designs, spec levels, and colors at an excellent price, giving our customers the choice to pick it up at a dealer or have it shipped to their door. 

As greater numbers of people hit the trails, Esker has become more than just a brand—our customers meet and ride with the people that design, assemble, and produce their bikes, forming a community of adventurers and dedicated promoters. 

The Problem

The cycling industry has been slow to adapt

The “great bicycle boom” has driven a huge surge in recreational cycling, with a dramatic global increase in bicycle sales - yet the cycling industry has remained slow to adapt to a more modern, consumer-facing sales strategy

(Source | Source) 

Legacy mountain bike brands continue to default to a dealer-only model within their existing networks, while a handful of newcomers are concentrating their spending on high-dollar DTC marketing rather than focusing on product design. This gap in the cycling market gives us an opportunity to cater our products to both online and in-person customers, hybridizing the best of DTC sales with the advantages of dealers and demo events to reach as many cyclists as possible.

The Solution

Ready to ride, wherever you choose to roll

Unlike companies that cater exclusively to either dealers or online customers, Esker combines the best of both worlds, allowing us to connect with and cater to a broader demographic. 

As a small and nimble company, Esker is poised to respond efficiently to the demands of the moment while still concentrating on ride quality and performance. We thrive on being close to our product, overseeing every step of the process—from our in-house proprietary designs and prototyping, to negotiating with the best industry suppliers and assembling our frames into the final product. 

Our full suspension bikes are built with Orion suspension, licensed from industry veteran Dave Weagle, and our hardtails are known for having highly refined geometries and ride qualities. 

Esker currently makes four bicycles which cater to different riders and terrains, with four additional models preparing to launch in 2022.

The Market

Responding to the "Bicycle Boom"

The global bicycle market size experienced an unprecedented boom during the COVID-19 pandemic, reaching a value of over $54B in 2020 (source). Mountain bike demand in particular remains at a high level, with sales of front-suspension mountain bikes up 150% in spring 2020 (source) and an estimated 1M units of high-end bikes sold annually in the US (estimate based on information found here). 

This upward trend in popularity is predicted to grow with a CAGR of 10% between now and 2027, catalyzed by broader lifestyle and demographic trends (source). Further still, the sport has benefited from an explosion in trail building, with trail counts increasing between 100% to 500% since 2019, primarily on free-to-use public land (source). 


(US high-end bike sales statistic is an estimate. This estimate is based on information found here.) 

Esker stands out from competitors by offering a 5–7% better price on similar products. We also present more choice and quality to our customers, with our built-to-order bikes resulting in better performance for riders. Unlike DTC-only companies, Esker can introduce our bikes to customers in-person, concentrating our focus on innovative product design rather than high marketing spend. 

By selling our product through multiple channels, we’re able to adjust each channel’s volume to maximize our margins. This results in a blended margin of about 40% - around 10% above the industry average. Once we reach 2,000 units, we’ll arrive at a 15–18% net margin. As we capitalize and grow, the addition of new models and customization choices will help further increase these unit sales and profit margins simultaneously.

Our Traction

Selling out, gaining clout, and ready to scale

We launched Esker in 2018, pre-selling 100 units and bringing in $300K in revenue that first year. We’ve now sold 450 units in 2021 (and are on track to sell 550 total pieces by the end of the year) for a total of $1.7M in revenue. 

Currently the product planning, engineering, production coordination, and dealer demand are in place and in progress to hit our projection of 2,000 units in 2024, but so far, our only constraint has been inventory. Our sales channels are repeatedly requesting more product than we have available. Having self-funded up to this point, we’re recognizing the critical need for capital in order to keep pace with demand as the Esker brand gains momentum.

Thanks to excellent press on our first two models, we’ve been able to place reviews in almost all prominent mountain biking publications. By the launch of our third and fourth models, industry insiders were actively coming our way. We’re preparing for a spring 2022 launch of our Titanium Hayduke and Japhy, followed by two new (and undisclosed) Titanium models in the fall. 

In 2023 and 2024, we plan to launch three new steel models as well as three new suspension models, all of which are already in the engineering and design phase. Between an established product line and continued customer demand, we’re poised for a unique stage of hypergrowth.

Why Invest

Bikes built for disruption

Esker was born under big skies, rooted in late-night campfire conversations, and fueled by long rides into the hills. It’s this collective experience that drives our work, and as we continue to grow, community, quality, and innovation will remain at the core of what we do. 

This new round of capital will help us reach 2000 units by 2024, with additional models currently in the process of development and engineering that are set to be released by then. 

We expect our footprint to rapidly expand as we’re able to provide inventory to the large volume of dealers who have applied, continuing our trajectory of establishing Esker as a primary player in the high-end mountain bike market. 

For 2025 and beyond, we have explored strategies to continue our growth, such as selling to or merging with other companies in the cycling industry that need our flexible sales methods and/or the consumer-facing channels.

We’d love for you to join us for this ride of a lifetime.


177 Columbia Mountain Drive
Columbia Falls, MT 59912

At Esker, we make mountain bikes you’ll enjoy throughout the entire ride, no matter where the trail takes you. Using Orion Dynamics, a patented, state-of-the-art suspension system, we design each and every bike to provide peak durability, performance, and versatility - all assembled in the Flathead Valley in Montana. As more and more people opt for the outdoors, Esker bikes are ready to ride wherever you choose to roll.


Tim Krueger

Tim Krueger

CEO, Co-founder, Director

Having spent over 25 years in the cycling industry, I have done it all from sweep the floors of a bike shop, to handle the full product development cycle of award-winning products. I've handled development of several major brand's product lines on the market as an employee and consultant, and in 2015 ventured out independently to start Krueger Outdoor, Inc, the owner of Terrene Tires and Esker Cycles.  

Anders Broste

Anders Broste

Chief Design Officer

I’ve been in the cycling industry for half my life in various aspects; sales, service, advocacy, and engineering. Previously, I worked as an engineer in the semiconductor industry (Applied Materials) around the world and bike industry (Quality Bicycle Products) as a designer, which gave me the experience and skills to create great products and to to work with others to help shape the business above and beyond product development.  

James Kauth

James Kauth


I cut my teeth in my teens as a bike builder at a small Minneapolis chain. While riding is in my DNA, I took a long hiatus for a career path in IT. Over the next 3 decades, I took on expanding leadership roles at private firms and at the State of Minnesota. I closed out my public service as the first appointment of Director of Innovation in the State of MN overseeing operations for over $450M worth of critical infrastructure that gave me the experience and skills that I now bring to the bike industry to lead operations and finance for Krueger Outdoor, Inc. 

Ryan Krueger

Ryan Krueger

Co-founder, Marketing Director

I have been working in the outdoor industry for 15 years with a background in media. Throughout my career, I’ve worked with companies around the world to help tell stories, create content, and grow brands. At Esker and Terrene, I use my skillset to bring our companies to life through consistent high-quality branding, visuals, and messaging that connect with our customers. 

Jason Ness

Jason Ness

Industrial Designer

I’m a designer that takes a mechanical mindset and blends it with high end aesthetics. “How does it look? How does it feel? How are we going to make it? I’m passionate about what I do and enjoy the entire process of new product design and development, I enjoy a collaborative workspace and truly believe our product is better with everyone’s perspective. I grew up spending the day outside, riding bikes, building things and fixing what I broke along the way. This hands-on approach has enabled me to wear many hats as we continue to grow Esker and Terrene.

Cedar Kyes

Cedar Kyes

Sales Manager

I've been working in the bicycle industry since 1994, first in retail sales and then as a sales representative for various bicycle industry brands. I joined the Esker Cycles team to manage the demo tour before taking on the role of Sales Manager from my home base on the west coast. 

Ron Brandt

Ron Brandt

Operations Manager

I started my career in the outdoor industry over twenty years ago. This journey has brought me to 3 different states with a broad experience in the field. I have been everything from a sales person, service manager, and rental department lead to head buyer. I began with Krueger Outdoor in 2020 leading production, which has grown into being the Operations Manager here at our Montana Warehouse.  

Jeff White

Jeff White

Outbound Manager

I’ve been in the outdoor industry for the better part of 25 years. Beginning in sales and moving into service has given me a wide range of experience ranging from retail associate to store and service manager positions. Mainly focused on mechanic and service efficiency has lead me to my current roll with Esker and Terrene as Outbound Manager. 


Esker Cycles by Krueger Outdoor
May 1, 2022
$10k - $1.07M
Common Stock
Common Stock

Maximum Number of Shares Offered subject to adjustment for bonus shares

*Maximum Number of Shares Offered subject to adjustment for bonus shares. See Bonus info below.


Friends and Family Early Birds

Invest within the first 48 hours, and get 20% bonus shares. 

Super Early Bird Bonus

Invest within the first 72 hours and get 15% bonus shares. 

Early Bird Bonus

Invest within the next 7 days, and get 10% bonus shares.



$500+ | Mystic Lake

Receive a discount code eligible for 5% off any bike in the next 12 months + a special owner’s t-shirt and hat!

$1,000+ | Big Snowy Mountains Loop

Receive a discount code eligible for 10% off any bike in the next 3 years + a special owner’s t-shirt and hat!

$5,000+| Emerald Lake Trail

Receive a 10% discount code eligible for 1 bike per year (for every year that you continue to own shares with us + a t-shirt and hat + 5% Bonus Shares.

$10,000+ | Grassy Mountain Loop

Receive a 10% discount code eligible for 1 bike per year + a special invitation to an Esker destination meetup to ride with our team + 10% Bonus Shares.

$25,000+ | Whitefish Trail

Receive shareholder pricing on 1 new bike per year as long as you own shares + early access to new bikes + ride with the Esker team at a destination meetup + priority access at bike festivals across the country + an invite to come hang out and ride with us at our Whitefish, MT basecamp + 10% Bonus Shares.

$50,000+ | Continental Divide

Receive shareholder pricing on 1 new bike per year as long as you own shares + an invite to a 3-day/2-night tour of the White Rim trail in Moab, UT (future dates TBD) or a 3-day 2-night tour of a portion of the Continental Divide Trail through our home in Montana (future dates TBD) with the Esker Cycles Founders + 15% Bonus Shares.

$100,000+ | Grizzly Loop

Receive shareholder pricing on 1 new bike per year as long as you own share + a brand new Hayduke or Japhy, 3-day/2-night tour of the White Rim trail in Moab, UT (future dates TBD) or a 3-day 2-night tour of a portion of the Continental Divide Trail through our home in Montana (future dates TBD) with the Esker Cycles Founders + 15% Bonus Shares.

*All perks occur when the offering is completed.

**All perk levels receive a t-shirt and hat

The 10% StartEngine Owners' Bonus

Krueger Outdoor, Inc. will offer 10% additional bonus shares for all investments that are committed by investors that are eligible for the StartEngine Crowdfunding Inc. OWNer's bonus.

This means eligible StartEngine shareholders will receive a 10% bonus for any shares they purchase in this offering. For example, if you buy 100 shares of Common Stock at $2.31 / share, you will receive 110 shares of Common Stock, meaning you'll own 110 shares for $231. Fractional shares will not be distributed and share bonuses will be determined by rounding down to the nearest whole share.

This 10% Bonus is only valid during the investors eligibility period. Investors eligible for this bonus will also have priority if they are on a waitlist to invest and the company surpasses its maximum funding goal. They will have the first opportunity to invest should room in the offering become available if prior investments are cancelled or fail.

Investors will only receive a single bonus, which will be the highest bonus rate they are eligible for.

Voting Proxy

Each Investor shall appoint the Chief Executive Officer of the Company (the “CEO”), or his or her successor, as the Investor’s true and lawful proxy and attorney, with the power to act alone and with full power of substitution, to, consistent with this instrument and on behalf of the Investor, (i) vote all Securities, (ii) give and receive notices and communications, (iii) execute any instrument or document that the CEO determines is necessary or appropriate in the exercise of its authority under this instrument, and (iv) take all actions necessary or appropriate in the judgment of the CEO for the accomplishment of the foregoing. The proxy and power granted by the Investor pursuant to this Section are coupled with an interest. Such proxy and power will be irrevocable. The proxy and power, so long as the Investor is an individual, will survive the death, incompetency and disability of the Investor and, so long as the Investor is an entity, will survive the merger or reorganization of the Investor or any other entity holding the Securities. However, the Proxy will terminate upon the closing of a firm commitment underwritten public offering pursuant to an effective registration statement under the Securities Act of 1933 covering the offer and sale of Common Stock or the effectiveness of a registration statement under the Securities Exchange Act of 1934 covering the Common Stock.

Irregular Use of Proceeds

The Company will not incur any irregular use of proceeds.


Article Image
Esker Cycles Launches New Bike Brand And Full-Suspension Design

Esker Cycles has announced the release of their new rider-centered bike brand and flagship full-suspension bike model using a patented suspension design platform created by Dave Weagle. The Esker Elkat will be the first market player using Dave Weagle’s patented Orion™ suspension platform. Orion is

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Introducing Esker Cycles and the Elkat

Mountain biking got its start in the garages of passionate tinkerers determined to explore the outdoors in a whole new way. Those early innovators did it for the fun of it, but wound up sparking what has become a huge global industry.

Article Image
Esker Cycles Elkat

It’s no easy task to launch a new mountain bike brand, especially when the upper echelon of our sport is filled with corporate giants; however, the folks behind Esker Cycles weren’t afraid to dive headfirst into this challenging business environment.

Article Image
The Esker Japhy is One Scrappy 29er Hardtail

Japhy is scrappy and is willing to claw its way through just about anything...The Japhy is a veritable ally for whatever you can throw at it."

Article Image
Esker Cycles first w/ Weagle’s Orion suspension on all-new 150mm Elkat MTB

Immediately, I was impressed at how active the entire suspension felt while remaining extremely pedal efficient. The suspension really is good enough to make me question why it took so long to make it to a mountain bike.



Multiple investments in an offering cannot be combined to qualify for a larger campaign perk. Get rewarded for investing more into Esker Cycles by Krueger Outdoor.



Furaha Bryant

a year ago

Accidentally touched the red triangle 🔺️ oops... pardon team... makes hints tho! Wise Aum ache Zens...?



Furaha Bryant

a year ago

Esker Brothers, Amazing team you've grown. May I contribute to your time-honoured and uber-bountiful land-influenced business as your big sky workshop puts my invention through wits paces? I have a see derailleur-less bicycle drivetrain needing a strong foundation as Esker appears to be. If this rides well with the entire team, meditative focus upfront, please call me or email 📧 and anyone else taint this we'll soon be up on start engine sooner than ever REM imagined so keep-healed dream-eyeballs wrote hope pen and ink our a support investor realm/group/corner for rallying early bird 🐦 shares in your field of few sure futures, alive! This is sick a fun platform. I love the days ahead! The family is familiar but the fame-mile is about the 20-2nd Millennium, and beyond. What begins as a Weight-loss Wright Brother bicycle invention turns into a sustainable trust for underserved billions! We dream globally big! And we want to move a branch to Texas; Montana and Texas. Two big states to bookend daring heir-ringling American sharing values!



Thomas F Brown

2 years ago

Hello Esker Gang! Moments ago I invested again in your fine company! I have made 3 separate investments, totaling over $1000. Am I eligible for the 10% discount even though I did not make one single lump sum investment? When I make the purchase, how do I initiate the share owners discount? Thanks for a great bike and your time regarding my questions. I eagerly await the next production of Medium Japhys!



Craig Temkin

2 years ago

Love the energy, ethos and overall sector. Have one question, are E-Bike on the roadmap?



Douglas Sullivan

2 years ago

I'm happy to invest in Esker. I have owned steel frames but once I bought and rode my Hayduke it was honestly the best steel frame I have ever rode. I had to buy the Japhy when it was available because I wanted a single speed that felt that smooth. I probably have more time and more YT videos on my Eskers than anyone I have seen. I love mountain biking and love it when I find such an amazing company. Esker has it figured out, people want bikes that ride great and a company that knows mountain bikers. I'm looking forward to buying more frames and riding and talking about them on my channel.



Thomas F Brown

2 years ago

I am glad and proud to buy shares in Esker! I met Tim and his wife a few years back at a DirtRag Dirtfest in PA. He loved my "RETRO" Shimano 545 pedals which he could barely wrench off my rigid single speed! I demoed an Elkat or Hayduke, I can't remember which, but I fell in love with the bike and vowed to own an Esker one day...



Rukman Wignarajan

2 years ago

First met you guys at Outerbike Bentonville in 2018 and became an Elkat owner in 2019. Possibly a Rowl next. Hope this next stage lets you “play the game” with marketing resources,etc and you can become the next Ibis, Yeti, etc.



Colin Welsh

2 years ago

I ride a Hayduke. Love it. Been trying to get the frame decal file previously offered so I can make em up in a the colorway of my very first bicyclw. Now that I’m an “owner,” maybe I’ll finally get my hands on the file. More pressing is that I can’t tell if I received the first 48 hour 20% bonus shares? How may I confirm that? Thanks and keep up the good work!



Greg Golden

2 years ago

Bought a Japhy and just received last month. Most fun on a bike I've had a in years. Esker is the real deal making solid mountain bikes. Best of luck taking this company to the next level!



Andrew Strasser

2 years ago

Is it possible to apply the discount code to a bike purchased through an authorized dealer?




Cancel anytime before 48 hours before a rolling close or the offering end date.



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