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Total amount raised
$430M
Latest funding date
2026-04-16
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.
Zūm has raised over $430 million across multiple funding rounds, backed by more than 24 investors including TPG's The Rise Fund, GIC, SoftBank Vision Fund 2, Sequoia Capital, and Spark Capital.
Keep reading to explore Zūm's fundraising journey and the key investors powering its mission to modernize student transportation.
What Is Zūm?
Zūm (also known as Zum Services, Inc.) is a Redwood City, California-based student transportation company transforming school transportation — the largest mass transit system in the U.S. Founded by Ritu Narayan, Zūm provides turnkey, technology-powered transportation solutions to school districts across 14 states. Its platform unifies parents, students, school administrators, and drivers, delivering real-time tracking, route optimization, and data-backed accountability. Zūm also leads the charge on electrification, having launched the nation's first fully electrified school bus fleet featuring vehicle-to-grid (V2G) technology. As of 2025, Zūm reported $333 million in annual revenue and reached a $1.7 billion valuation following its 2026 private equity investment.
How Much Funding Has Zūm Raised?
- Seed Round
- Amount Raised: USD 2,500,000
- Date: February 2016
- Lead Investors: Undisclosed
- Series A
- Amount Raised: USD 5,500,000
- Date: August 2017
- Lead Investors: Sequoia Capital
- Participants: AngelPad, Ulu Ventures
- Series B
- Amount Raised: USD 19,000,000
- Date: March 2018
- Lead Investors: Spark Capital
- Participants: Sequoia Capital, AngelPad
- Series C
- Amount Raised: USD 44,000,000
- Date: February 2019
- Lead Investors: BMW i Ventures, Spark Capital
- Participants: Sequoia Capital, Citi Ventures, Volvo Cars Tech Fund, Clearvision Ventures
- Series D
- Amount Raised: USD 130,000,000
- Date: October 2021
- Lead Investors: SoftBank Vision Fund 2
- Participants: Sequoia Capital, BMW i Ventures
- Valuation: USD 930,000,000
- EPA Grant
- Amount Raised: USD 26,579,482
- Date: January 8, 2024
- Grantor: U.S. Environmental Protection Agency (Clean School Bus Program)
- Series E
- Amount Raised: USD 140,000,000
- Date: January 31, 2024
- Lead Investors: GIC (Singapore sovereign wealth fund)
- Participants: Climate Investment, Sequoia Capital, SoftBank Vision Fund 2
- Valuation: USD 1,300,000,000
- EPA Grant
- Amount Raised: USD 32,000,000
- Date: June 4, 2024
- Grantor: U.S. Environmental Protection Agency (Clean School Bus Program)
- Private Equity (TPG / The Rise Fund)
- Amount Raised: USD 100,000,000
- Date: April 16, 2026
- Lead Investors: TPG (through The Rise Fund)
- Valuation: USD 1,700,000,000
Total Amount Raised: At least $499M based on disclosed funding (including grants). Excluding EPA grants, total equity/strategic funding is approximately $401.5M. Per TPG's official press release dated April 16, 2026, total funding to date is stated as $430 million.
Key Investors
- TPG / The Rise Fund
- Details: TPG invested $100 million in Zūm in April 2026 through The Rise Fund, its impact-focused investment arm targeting both financial returns and measurable social outcomes. The investment values Zūm at $1.7 billion. Stephen (Steve) Ellis, Managing Partner of The Rise Fund, joined Zūm's Board of Directors as part of the deal.
- GIC
- Details: Singapore's sovereign wealth fund led Zūm's $140 million Series E in January 2024, the round that brought Zūm to unicorn status at a $1.3 billion valuation.
- SoftBank Vision Fund 2
- Details: SoftBank Vision Fund 2 led Zūm's $130 million Series D in October 2021, valuing the company at $930 million and supporting its EV fleet expansion plans.
- Sequoia Capital
- Details: Early backer of Zūm since its $5.5 million Series A in August 2017; Sequoia has continued to participate in subsequent rounds through Series E.
- Spark Capital
- Details: Led Zūm's $19 million Series B in March 2018 and co-led the $44 million Series C in February 2019 alongside BMW i Ventures.
- BMW i Ventures
- Details: Co-led the $44 million Series C in February 2019 alongside Spark Capital, reflecting interest in EV-driven transportation innovation.
- U.S. Environmental Protection Agency
- Details: Awarded Zūm two grants totaling over $58.5 million through the EPA's Clean School Bus Program — $26.6 million in January 2024 and $32 million in June 2024 — to fund fleet electrification.
What's Next for Zūm?
With its latest funding and growing revenue, Zūm is well-positioned to continue expanding its footprint and accelerating the electrification of student transportation. The company aims to scale its EV fleet, deepen its technology platform across school districts, and pursue further market expansion — all while maintaining its commitment to safety and sustainability in the communities it serves.
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