Total amount raised
$399.6 Million
Latest funding date
6/1/2024
Location
Zum has raised funding over 9 rounds, with the latest being a Grant round. The company is backed by 23 investors, including notable names like the U.S. Environmental Protection Agency and Sequoia Capital.
Keep reading to explore the intricacies of Zum's fundraising journey and the investors backing this innovative platform.
What Is Zum?
Zum, based in Redwood City, California, operates within the children, ride-sharing, and transportation industries. The company provides child transportation services for school districts and busy families, leveraging advanced technology for safety and efficiency.
Founded in an unspecified year, Zum employs between 51-100 people. The company is private and has raised funding through grants. Zum's platform offers end-to-end transportation solutions, including modern fleets and real-time visibility, serving over 4,000 schools and districts.
How Much Funding Has Zum Raised?
- Seed Round
- Amount Raised: USD 2,500,000
- Date: February 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial platform and launch services.
- Series A
- Amount Raised: USD 5,500,000
- Date: August 2017
- Lead Investors: Sequoia Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and scale operations.
- Series B
- Amount Raised: USD 19,000,000
- Date: March 2018
- Lead Investors: Spark Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance technology and expand market reach.
- Series C
- Amount Raised: USD 44,000,000
- Date: February 2019
- Lead Investors: BMW i Ventures, Spark Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and increase fleet size.
- Series D
- Amount Raised: USD 130,000,000
- Date: October 2021
- Lead Investors: SoftBank Vision Fund
- Valuation at Round: USD 930,000,000
- Motivation Behind the Round: To scale the business and expand the fleet of electric buses.
- Series E
- Amount Raised: USD 140,000,000
- Date: January 2024
- Lead Investors: GIC
- Valuation at Round: USD 1,300,000,000
- Motivation Behind the Round: To expand AI-driven technology and enhance sustainability efforts.
- Series Unknown
- Amount Raised: Not publicly disclosed
- Date: April 2024
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing operations and growth.
- Grant
- Amount Raised: USD 26,579,482
- Date: January 2024
- Lead Investors: U.S. Environmental Protection Agency
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support environmental initiatives and sustainability projects.
- Grant
- Amount Raised: USD 32,000,000
- Date: June 2024
- Lead Investors: U.S. Environmental Protection Agency
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further environmental and sustainability goals.
Total Amount Raised: USD 400,579,482. Current Valuation: USD 1,300,000,000.
Key Investors
- U.S. Environmental Protection Agency
- Details: The U.S. Environmental Protection Agency (EPA) is a federal agency responsible for protecting human health and the environment. It provides grants and funding for projects that promote sustainability and environmental protection.
- Investment Focus Areas: Environmental protection, sustainability initiatives, clean energy.
- Notable Investments: Known for funding various environmentally sustainable projects and initiatives.
- Sequoia Capital
- Details: Sequoia Capital is a venture capital firm that invests in early and growth-stage companies. It has a strong track record of backing successful technology startups.
- Investment Focus Areas: Technology, healthcare, consumer services, financial services.
- Notable Investments: Apple, Google, Airbnb.
- GIC
- Details: GIC is a global investment firm that manages Singapore's foreign reserves. It invests across a wide range of asset classes, including equities, fixed income, real estate, and private equity.
- Investment Focus Areas: Technology, healthcare, real estate, financial services.
- Notable Investments: Invested in companies across various sectors, including technology and healthcare.
- SoftBank Vision Fund 2
- Details: SoftBank Vision Fund 2 is a venture capital fund that focuses on investing in technology-driven companies. It aims to support companies poised for significant growth.
- Investment Focus Areas: Technology, artificial intelligence, consumer services.
- Notable Investments: Uber, WeWork, ByteDance.
- Climate Investment
- Details: Climate Investment focuses on investments that aim to address climate change and promote sustainability. It supports companies and technologies that contribute to reducing carbon emissions.
- Investment Focus Areas: Clean energy, sustainable technologies, carbon reduction.
- Notable Investments: Invested in various companies working towards reducing carbon footprints and promoting sustainability.
What's Next for Zum?
Zum stands at the cusp of significant growth, driven by its AI-driven platform and fleet of electric vehicles. The company has the opportunity to expand its services to more school districts across the U.S., promoting sustainability and reducing carbon footprints. With a strong market presence, serving over 4,000 schools, the potential for growth is substantial.
Future fundraising opportunities are promising, with the possibility of additional late-stage funding rounds or even an initial public offering (IPO). The recent $140 million Series E round, led by major investors, underscores the confidence in Zum's vision and capabilities. However, the company may face challenges such as competition from other tech-driven transportation firms and regulatory hurdles related to school transportation.
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