Zūm Raises $19 Million in Series B Funding
Zūm, a provider of reliable transportation and care for children, today announced that the company has secured $19 million in Series B funding. The investment was led by Spark Capital with participation from existing investor Sequoia Capital.
Zūm aims to provide families with safe, reliable, and cost-effective transportation from screened and certified professionals. According to the company, Zūm has grown 340 percent in the last year and is on track to complete one million rides in 2018. Its partnerships with more than 1,000 public, private, and charter schools in California have saved a total of $10 million in overhead and have provided access to reliable, flexible and affordable transportation for students.
With the new funding, Zūm plans to expand its school offerings and its footprint in select major metro areas in the U.S. during the next two years. The company will also expand its teams in engineering, operations, marketing, and sales.