Zum (company)
 | |
| Company type | Private |
|---|---|
| Industry | Transportation |
| Founders | Ritu Narayan Vivek Garg Abhishek Garg |
| Headquarters | , U.S. |
Key people | Ritu Narayan (CEO) |
| Total assets |  $1 billion (2022) |
| Website | www |
Zum, also written as Zūm, is an American student transportation services company, based in Redwood City, California, U.S.[1][2][3]
Zum Services, Inc. provides contract transportation services to school districts across the United States, it provides an app that parents can download to track the location of their children on Zum’s vehicles.[4] [5][6]
History[edit]
Zum was founded by Ritu Narayan, Vivek Garg and Abhishek Garg, after they identified a problem faced by the working mothers.[7][8] It has developed a technology platform that can optimize school bus routes and improve communications for school bus fleets.[7][9]
Zum initially started its operations from California in early 2016.[7][10] In February 2019, BMW i Ventures invested as part of a $40 million investment round in the company to expand its operations outside California.[11] Previously, it has received $19 million in Series B round in 2018 and $5.5 million in Series A round in 2017.[12][13]
In 2019, Zum entered in a $150 million contract with San Francisco Unified Schools District to operate the transportation system in the district.[14]
In February 2020, Zum began a partnership with Oakland Unified School District to provide transportation services to its students.[15]
In October 2021, Zum, nearing unicorn status, received $130 million in funding led by Softbank Vision Fund 2, with participation from existing investors including Sequoia and BMW i Ventures.[16] The funds were used to expand the company's footprint to new areas and expand its fleet, including adding new electric vehicles.[17][16]
In June 2022, Zum received a contract from the Los Angeles Unified School District (LAUSD), the second-largest school district in the U.S., valued at $400 million.[18]
In July 2022, it was given a three-year contract by the Seattle School Board to provide school transportation services to its students.[19][20]
In June 2023, Zum announced a contract with the Howard County Public School System in Maryland.[21] During the first week of school, historic school bus driver shortages led to many routes being canceled.[22]
In January 2024, the Wall Street Journal reported that Zum had raised $140 million in a Series E funding round, valuing the company at $1.3 billion.[23] The round was led by the Singapore sovereign wealth fund, GIC.[23]
References[edit]
- ^ Boorstin, Julia. "Female-led Disruptors are defying the odds and tackling massive social problems". CNBC.
- ^ Perry, Tatiania (February 4, 2022). "App Provides Parents Real-time Insights Into School Bus Safety". Newsweek.
- ^ "There's a new bus driver in town". San Francisco Business Times.
- ^ America, Good Morning. "New tech lets parents track kids on school buses". Good Morning America.
- ^ "Zum Unveils More Safety Features for Its Student Transportation Platform". THE Journal.
- ^ Pinsker, Joe (October 19, 2018). "What Is the Future of Getting Kids to Soccer Practice?". The Atlantic.
- ^ a b c "45. Zum". CNBC.
- ^ "Seattle Schools will have two bus contractors in the fall". The Seattle Times. July 7, 2022.
- ^ Rawlins, Aimee (September 30, 2020). "This transit startup is reimagining the yellow school bus to save districts time and money". Fast Company.
- ^ Locker, Melissa (October 12, 2018). "Zum, an Uber-like service for kids, is expanding—and parents can't wait". Fast Company.
- ^ "BMW helps Zum raise $40M to expand its ride-sharing for kids beyond California".
- ^ Kolodny, Lora. "Top VC deals: Apple buys Texture, Magna backs Lyft, Snoop Dogg raises a $45 million fund". CNBC.
- ^ "Sequoia backs 'Uber for kids' startup that's winning through school partnerships".
- ^ "There's a new bus driver in town: Startup Zūm wins S.F. schools' $150M transportation contract".
- ^ "Zum".
- ^ a b "SoftBank gives school bus startup Zūm a ride to near unicorn status". Fortune.
- ^ Bellan, Rebecca (October 7, 2021). "Student transportation startup Zūm to add 10,000 EVs to its platform".
- ^ Brody, Liz (September 19, 2023). "This Startup Is Reinventing the Yellow School Bus. Here's Its Playbook for Winning Over the Hardest Customers (Like Public Schools)". Entrepreneur.
- ^ "Seattle Schools will have two bus contractors in the fall". The Seattle Times. July 7, 2022.
- ^ Stiffler, Lisa (August 2, 2022). "This tech-fueled service will provide bus transportation for Seattle Public Schools". GeekWire.
- ^ Staff, Daily Record (June 6, 2023). "Howard County Public Schools signs 5-year contract for 250 carbon-neutral buses".
- ^ "School bus driver shortage".
- ^ a b "Startup Nets $140 Million to Bring High-Tech Solutions to School Bus Rides". Wall Street Journal.