Zum Raises $140M Led by GIC to Revolutionize School Transportation

Zum, a transportation company based in Redwood City, California, has successfully secured $140 million in a Series E funding round led by GIC

Updated: February 7, 2024

Zum, a transportation company based in Redwood City, California, has successfully secured $140 million in a Series E funding round led by GIC, valuing the company at $1.3 billion. This latest investment includes participation from Climate Investment, along with continued support from existing investors Sequoia Capital and SoftBank Vision Fund 2. Zum specializes in enhancing the efficiency and cost-effectiveness of school bus fleet management for districts through its proprietary platform, leveraging artificial intelligence (AI). The platform provides school districts with visibility to optimize bus routes and deliver real-time updates to parents. Additionally, Zum contributes to the transformation of the student transportation industry by providing its own fleet of electric buses for districts. The platform also analyzes optimal times for discharging and recharging, enabling buses to send power back to the grid.

Through its innovative digitization and electrification strategies, Zum has revolutionized the traditionally inefficient and opaque student transportation sector. School buses, constituting the largest mass transit system in the United States, have historically contributed to environmental pollution with majority running on diesel. Zum addresses this issue by leveraging advanced technology to convert diesel fleets into environmentally friendly vehicles. The company focuses on increasing route efficiency, integrating electric buses into school fleets, and implementing other environmentally conscious strategies. Zum's platform is already in use by schools in major cities such as San Francisco, Los Angeles, Oakland, Seattle, Chicago, and Nashville, serving over thousands of schools across the United States.