Zūm, a Redwood City, Calif.-based logistics platform for rides for school districts and busy families, received $40m in Series C funding.
The round, which brought total funding to $67m, was led by BMW i Ventures with participation from new investors NGP Capital, Volvo Cars Tech Fund, Clearvision, Draper Nexus and existing investors Sequoia Capital and Spark Capital.
The company intends to use the funds to grow its proven business model, increase school partnerships throughout the country, and continue the development of its proprietary technology platform for addressing all school transportation needs.
Founded in 2015 by Ritu Narayan, founder and CEO, Zūm is a provider of child transportation for school districts and busy families. It offers flexible transportation options through its network of vetted drivers and advanced scheduling, routing and tracking technology.
The company currently transports children to more than 2,000 public, private and charter schools, with a collective 750,000 students in attendance. Zūm now operates in over 400 cities and towns throughout the country.
In 2019, it will expand to serve markets beyond California with a goal to double its presence by 2020.
FinSMEs
28/02/2019