Zūm Partners Sequoia, raises USD5.5 million in Series A funding

Softbank

Zūm, a leading provider of safe and reliable rides and care for families, said they have partnered with Sequoia Capital and raised USD5.5 million in Series A funding. The capital will support the company’s continued product and market expansion, as well as the development of strategic partnerships and initiatives.

“I’m proud to announce our Series A financing, and that Bryan Schreier will be joining our board of directors,” said Ritu Narayan, Co-founder and CEO of Zūm. “We felt a strong connection with Sequoia, given their experience in building legendary companies, and are excited to work with them to bring Zūm to more families.”

Zūm’s unique approach matches families with a small pool of drivers to provide optimal child care and convenience. Kids enjoy getting to know their drivers on the way to school and activities. Parents appreciate the assurance that their children will arrive safely and be looked after by someone they trust if they can’t make it to soccer practice, as well as knowing they can always reach a Zūm Family Assistant for help.

“Today’s families are busier than ever. Zūm delivers peace of mind, freeing kids and parents from the limitations of logistics in a reliable and safe manner,” said Bryan Schreier, partner at Sequoia and Zūm board member. “Ritu and her team are just beginning to scratch the surface of a problem that’s plagued parents for generations – how to be in multiple places at one time.”

Families across the country lack safe and reliable ride options. Zūm is for every busy household, no matter what it looks like – single parent families and dual income families; families with an only child and those with multiple kids; households with kids in public school and private school, grade school and high school – all families that are constantly juggling multiple schedules and work demands. Zūm understands the need for flexibility with today’s busy families and provides the child care and transportation active families need.

Zūm serves families from over 800 schools in the San Francisco Bay Area and Orange County, and over one hundred public, charter, and private schools use them as their exclusive rideshare partner to meet the dynamic transportation needs of their students and families. Having executed over 100,000 rides last year, Zūm is on track to grow five times this year.

Timed with the back-to-school season, Zūm launched three new products that further expand upon existing partnerships with schools, and make it easier for families to manage increasingly hectic schedules. These products include:
• Zūm Carpools: Parents can now coordinate with nearby friends and neighbors to create single or recurring carpools to and from school, activities, playdates, and more, providing a cost-efficient ride that’s also fun for kids.
• Zūm School Integration: A simple integration now gives schools real time visibility into their students’ ride activity on Zūm, bringing added peace of mind to the schools and the families that they serve.
• Zūm Monthly Plans: Parents can book recurring pick-ups and drop-offs for the full school year at a convenient, low monthly payment, creating a consistent and smooth routine for families.

“I’ve been using Zūm for the last year and book several rides a week for my three children who are between the ages of seven and 12,” said Leslie M, a frequent Zūm user who resides in Saratoga, CA. “My husband and I both work, and it’s a daily challenge to juggle the demands of our careers with our children’s schedules. Zūm has been a total lifesaver, I couldn’t imagine my life without it.”