Zūm, a Redwood City, CA-based logistics platform for rides for school districts and families, secured additional funding from new investor Citi Ventures.
The amount of the deal was not disclosed. It adds to the Series C round of $40m led by BMW i Ventures and supported by other 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 accelerate growth, pursue new strategic partnerships, and double its national footprint by 2020, starting with newly available service in Dallas, Texas.
Founded in 2015 and led by Ritu Narayan, CEO, Zūm provides a fleet of cars and vans to handle daily student commuting, extracurricular trips and after-school activities. The company operates a network of vetted drivers and leverages advanced scheduling, routing and tracking technology.
The entrance into Dallas marks the first step for the company’s national expansion. It has already hired 100 new drivers (Zūmers) in the greater Dallas area.