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Zūm Gains $40 Million in Series C Financing

Zūm Gains $40 Million in Series C Financing
Credit: ridezum.com

School district logistics platform Zūm received $40 million in Series C funding, bringing the company’s total funding to $67 million. BMW i Ventures led the round with participation from NGP Capital, Volvo Cars Tech Fund, Clearvision, Draper Nexus, Sequoia Capital, and Spark Capital.

According to the company, its route optimization engine and vehicle tracking are designed to ensure safety and efficiency for riders, and its real-time dashboards provide school districts with full visibility into every child’s ride from start to finish. Zūm serves school districts in metropolitan areas that make up 80 percent of California’s population, and plans to expand to serve markets beyond California with a goal to double its footprint by 2020.

The company plans to use the funds to continue the development of its proprietary technology platform.