Fundraising Fox

Zum Services

Unicorn Β· $1.7B

Redwood City, US Β· Delaware corporation Β· 3 known investors

Zum Services is a Redwood City, California student transportation provider contracting school bus and fleet services to U.S. districts.

Also known as Liftee Β· Zum Β· ZΕ«m Β· Zum Services, Inc.

Founders & leadership

RN
Ritu NarayanCo-founder
VG
Vivek GargCo-founder
AG
Abhishek GargCo-founder
DB
Daniel BerenbaumExecutive

Board

BSBryan Schreier
Bryan Schreierin𝕏Board directorPartner at Sequoia Capital
AL
Arif LakhaniBoard director
NHNabeel Hyatt
Nabeel Hyattin𝕏Board directorInvestor helping founders and working on AI that enables human creativity and agency
MG
Mike GuoBoard director
SE
Stephen EllisBoard director
BR
Brett RochkindBoard director
MD
Mitesh DhruvBoard director

Investors Β· 3

Also in the syndicate Β· 1

SoftBank Vision Fund 2

Reported raises Β· per SEC filings

Form D private placements

$104M disclosed across 2 of 8 rounds Β· 2017–2026

β–Ά$100MraisedMay 2026 Β· 1 investors Β· Other Technology
Rule 506(c)
Officers, directors & promoters on the filing
  • Ritu NarayanExecutive Officer, Director
  • Daniel BerenbaumExecutive Officer
  • Bryan SchreierDirector
  • Arif LakhaniDirector
  • Nabeel HyattDirector
  • Mike GuoDirector
  • Mitesh DhruvDirector
  • Vivek GargExecutive Officer, Director
  • Abhishek GargExecutive Officer
  • Stephen EllisDirector
Offering amount
$100M
Amount sold
$100M
Sales commissions
$4M
Placement agents
Morgan Stanley Smith Barney LLC
First sale
Apr 2026
Incorporated
Corporation, Delaware
Federal exemptions
06c
Full filing on SEC EDGAR β†—
β–Ά$4MraisedApr 2024 Β· 2 investors Β· Other Technology
Rule 506(c)
Officers, directors & promoters on the filing
  • Brett RochkindDirector
  • Arif LakhaniDirector
  • Abhishek GargExecutive Officer
  • Ritu NarayanExecutive Officer, Director
  • Vivek GargExecutive Officer, Director
  • Bryan SchreierDirector
  • Nabeel HyattDirector
Offering amount
$4M
Amount sold
$4M
Sales commissions
$160K
Placement agents
J.P. Morgan Securities LLC
First sale
Mar 2024
Incorporated
Corporation, Delaware
Federal exemptions
06c
Full filing on SEC EDGAR β†—

Source: SEC EDGAR Form D. Amounts as filed; amended filings shown once at their latest values.

Valuation Β· disclosed

Disclosed events
$1.7Bvaluation at Investment from TPGJan 2026
filing β†—
$1.3Bvaluation at Series EJan 2024
filing β†—
$930Mvaluation at Series DOct 2021
filing β†—

Source: SEC prospectus filings, and round valuations the company or its investors disclosed β€” follow each entry's link for the claim.

Company profile

researched Aug 2026

Zum Services, Inc. (stylized ZΕ«m) is an American student transportation services company headquartered in Redwood City, California. It provides contract transportation services to school districts across the United States, spanning student transportation, school bus operations, fleet management and vehicle-to-grid energy services. Its products include the Zum platform and Zum CMX (Connected Mobility Experience).

The company was founded in 2015 under the name Liftee by Ritu Narayan, Vivek Garg and Abhishek Garg, and was initially modeled on ridesharing platforms, offering parents an app to schedule vetted drivers for trips to school and after-school activities. It was renamed Zum in January 2016 and began operations in California in early 2016. Over time it shifted toward full-district contracts, taking over bus operations for districts including San Francisco Unified, Oakland Unified, Los Angeles Unified, Seattle Public Schools, Spokane Public Schools and Howard County Public Schools. Its company materials describe turnkey transportation for districts in California, Colorado, Connecticut, Illinois, Maryland, Massachusetts, Missouri, Nebraska, Pennsylvania, Tennessee, Texas, Washington, Utah and Virginia.

Zum also pursues fleet electrification: in August 2024 it deployed an all-electric fleet of 74 school buses with bidirectional chargers for the Oakland Unified School District, described as the first major U.S. district to transition to a fully electric school bus system.

Founding story

Zum was founded in 2015 by Ritu Narayan with Vivek Garg and Abhishek Garg. Narayan, previously a product manager at eBay and Oracle, has said she was motivated by her own experience as a working mother and by her mother's career sacrifices in India. The original service, launched as Liftee, was modeled on ridesharing and let parents book vetted drivers to take children to school and activities.

Business model

Zum contracts with public school districts and charter school networks to operate home-to-school transportation, typically under multi-year contracts of three to five years (examples cited include $150 million with San Francisco Unified, more than $400 million with Los Angeles Unified, $68 million with Seattle Public Schools, $71.8 million with Spokane Public Schools and $27 million with Howard County Public School System). It combines software (the Zum platform and Zum CMX apps, dashboards and routing/dispatch tools) with operations, drivers, depots and vehicles, and also offers charter service, software-only offerings and fleet electrification including vehicle-to-grid energy.

Revenue derives from multi-year district transportation contracts with disclosed values ranging from tens of millions to more than $400 million, alongside software, charter and electrification/energy-as-a-service offerings described on the company website.

Traction

The company reports serving more than 5,000 schools and districts and 68 million rides in 2025. Disclosed district contracts include San Francisco Unified ($150 million, five years, awarded July 2021), Los Angeles Unified (more than $400 million, June 2022), Seattle Public Schools ($68 million, three years, July 2022), Spokane Public Schools ($71.8 million, five years, March 2023), Howard County Public School System ($27 million, three years, June 2023, extended in April 2026 by five years and $120 million), plus partnerships with Oakland Unified, Saint Louis Public Schools and LEAD Public Schools. Total disclosed funding reached $430 million at a $1.7 billion valuation following a $100 million TPG investment.

Latest developments

Zum announced a $100 million investment from TPG, raising total funding to $430 million and valuing the company at $1.7 billion. It launched Zum CMX (Connected Mobility Experience) and published national survey research (conducted by NORC at the University of Chicago, 2026) reporting that 54% of parents say their child has expressed worry about school transportation and 39% report late arrivals due to transportation issues. LEAD Public Schools, a Nashville-area charter network, selected Zum for the 2026-2027 school year, and Howard County Public Schools approved a five-year, $120 million contract extension through June 2031 in April 2026. Zum also published a book, "The Most Important Commute."

β–ΈFull profile β€” market position, technology, go-to-market, geography, history, risks & controversies

Market position

Zum positions itself as a modern alternative to legacy school bus contractors in what it describes as the largest mass transit system in the U.S. It holds contracts with several of the largest U.S. districts, including Los Angeles Unified, the second-largest district in the country. Recognitions cited include CNBC Disruptor 50 (2023-25), the Americas' Fastest Growing Companies (2022-25), World's Most Innovative Companies (2023-25), Women Transforming Business 2024, Fast Company Innovation by Design Awards 2023, Fast Company World Changing Ideas, CNBC Changemakers, World Economic Forum and Financial Times fastest-growing company listings.

Differentiation is based on a unified software-plus-operations model (CMX) intended to replace fragmented legacy school bus operations, claimed operating outcomes (98% average on-time performance, up to 20% less time on routes, up to 25% average reduction in bus fleet size, 4.9/5 average parent rating across more than 1.7 million reviews), parent-facing real-time transparency, and electrification with vehicle-to-grid energy capability.

Technology

The Zum CMX platform connects students, drivers and school districts in real time, with apps and dashboards for parents, drivers, dispatchers and district transportation teams; capabilities include route design and optimization, dynamic routing and dispatch, right-sizing of vehicles, real-time student location visibility for parents and proactive communication of delays and changes. The company also operates electric school buses with bidirectional (vehicle-to-grid) chargers.

Go-to-market

Zum wins business primarily through competitive school district contract awards and board approvals, often displacing incumbent contractors such as First Student and Durham School Services, and markets via case studies, demo requests, awards recognition and press coverage. It recruits bus drivers and attendants nationwide directly.

Public school districts, charter school networks, and the students, parents and caregivers they serve; the company states it serves more than 5,000 schools and districts.

Geography

United States only; headquartered in Redwood City, California, with operations described in California, Colorado, Connecticut, Illinois, Maryland, Massachusetts, Missouri, Nebraska, Pennsylvania, Tennessee, Texas, Washington, Utah and Virginia, and stated nationwide expansion.

History

Founded in 2015 in Redwood City as Liftee; renamed Zum in January 2016 and launched California operations in early 2016. It raised a $5.5 million Series A led by Sequoia Capital in August 2017, a $19 million Series B in March 2018, and a $40 million round in February 2019 that included BMW i Ventures to fund expansion beyond California. A $130 million Series D led by SoftBank Vision Fund 2 closed in October 2021 at a $930 million valuation, followed by a $140 million Series E led by GIC in January 2024 at a $1.3 billion valuation. A subsequent $100 million investment from TPG brought total funding to $430 million at a $1.7 billion valuation.

Risks & controversies

Zum's 2023-24 rollout with the Howard County Public School System in Maryland produced widespread disruptions: more than 100 routes were delayed or canceled in the first days of school due to driver shortages, incomplete staffing and operational issues, prompting the company to fly roughly 70 drivers from Washington state to Maryland. The episode drew public criticism, multiple school board meetings and an independent district-commissioned audit, which in 2024 attributed the problems to inadequate planning, staffing shortages, compressed timelines and insufficient coordination between the district and Zum, concluding both parties underestimated the complexity of the transition. Separately, in 2026 a former employee filed a federal wrongful termination suit in the U.S. District Court for the Western District of Virginia alleging retaliation for raising concerns about company practices; Zum has denied the allegations and the litigation is pending. Wikipedia also notes public criticism from several school districts.

Compiled by commissioned research from 6 cited public sources β€” announcements, filings, and press listed under research sources below.

Key figures

latest reported
Average on-time performanceJan 202698%
Average parent ratingJan 20264.9 out of 5 (1.7 million+ reviews)
Employees saying it is a great place to workDec 202482%
Reduction in bus fleet sizeJan 202625%
Reduction in time on routesJan 202620%
Rides completedJan 202568,000,000 rides
Schools and districts servedJan 20265,000 schools and districts
Total funding raisedJan 2026$430M
U.S.-based employeesDec 2024119 employees
ValuationJan 2026$1.7B

Company-reported or press-reported figures, each dated to when it was claimed β€” not independently audited.

Timeline Β· 26

launches, deals, and filings
Apr 2026
Five-year, $120 million contract extension with Howard County Public Schools

Extension runs through June 2031 following reported performance improvements.

$120M source β†—

Jan 2026
$100 million investment from TPG at $1.7 billion valuation

Investment brought total funding to $430 million.

$100M source β†—

Jan 2026
LEAD Public Schools selects Zum for 2026-2027 school year

source β†—

Jan 2026
Launch of Zum CMX (Connected Mobility Experience)

source β†—

Jan 2026
Federal wrongful termination lawsuit filed by former employee

A former employee filed suit in the U.S. District Court for the Western District of Virginia alleging termination after raising concerns about company practices; Zum denies the allegations and the case is pending.

source β†—

Feb 2025
Joint student transportation modernization initiative with Saint Louis Public Schools

source β†—

Jan 2025
Industry recognitions

Listed among the Americas' Fastest Growing Companies (2022-25), CNBC Disruptor 50 (2023-25), World's Most Innovative Companies (2023-25), Women Transforming Business 2024 and Fast Company Innovation by Design Awards 2023.

source β†—

Dec 2024
Great Place To Work certification

82% of employees said the company is a great place to work, versus 57% at a typical U.S.-based company.

source β†—

Aug 2024
All-electric school bus fleet deployed at Oakland Unified School District

Zum deployed 74 electric school buses with bidirectional chargers, described as the first major U.S. district to move to a fully electric school bus system.

source β†—

Jan 2024
$140 million Series E led by GIC at $1.3 billion valuation

Participation from Climate Investment, Sequoia Capital and SoftBank Vision Fund 2; brought total funding to $350 million.

$140M source β†—

Jan 2024
Independent audit of Howard County transportation transition

The district-commissioned audit cited inadequate planning, staffing shortages, compressed implementation timelines and insufficient coordination between the district and Zum.

source β†—

Jun 2023
Three-year, $27 million contract with Howard County Public School System

Contract covered roughly half of the Maryland district's bus routes.

$27M source β†—

Mar 2023
Five-year, $71.8 million contract with Spokane Public Schools

Award replaced longtime provider Durham School Services.

$71.8M source β†—

Jan 2023
Service disruptions at Howard County Public Schools

During the opening weeks of the 2023-24 school year more than 100 routes were delayed or canceled amid driver shortages and staffing gaps; Zum flew about 70 drivers from Washington state to cover routes, prompting public criticism and an independent audit.

source β†—

Jul 2022
Three-year, $68 million contract with Seattle Public Schools

$68M source β†—

Jun 2022
Contract with Los Angeles Unified School District valued at more than $400 million

Zum replaced previous provider First Student at the second-largest U.S. school district.

$400M source β†—

Oct 2021
$130 million Series D led by SoftBank Vision Fund 2 at $930 million valuation

Participation from existing investors including Sequoia Capital and BMW i Ventures; proceeds earmarked for geographic expansion and fleet growth including electric vehicles.

$130M source β†—

Jul 2021
Five-year, $150 million contract awarded by San Francisco Unified School District

$150M source β†—

Feb 2020
Partnership with Oakland Unified School District

source β†—

Jul 2019
$150 million contract with San Francisco Unified School District

$150M source β†—

Feb 2019
$40 million round including BMW i Ventures

BMW i Ventures invested as part of a $40 million round to expand operations outside California.

$40M source β†—

Mar 2018
$19 million Series B

$19M source β†—

Aug 2017
$5.5 million Series A led by Sequoia Capital

$5.5M source β†—

Jan 2016
Operations begin in California

Zum began operating in California in early 2016.

source β†—

Jan 2016
Renamed from Liftee to Zum

source β†—

Jan 2015
Company founded as Liftee in Redwood City, California

Ritu Narayan, Vivek Garg and Abhishek Garg founded the company in 2015, initially operating as Liftee with a rideshare-style app for parents to book vetted drivers.

source β†—

Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.

Legal entities Β· 1

corporate structure
Zum ServicesDelaware

β–ΈResearch sources Β· 6

primary sources listed

6 public sources were cited for this profile; the first-party ones are listed here.

Frequently asked questions

What does Zum Services do?
Zum Services is a Redwood City, California student transportation provider contracting school bus and fleet services to U.S. districts.
Who founded Zum Services?
Zum Services was founded by Ritu Narayan, Vivek Garg, Abhishek Garg.
Who are Zum Services's investors?
Zum Services's investors include Sequoia Capital, Spark Capital.
How much funding has Zum Services raised?
Zum Services has disclosed $104M raised across 2 of its 8 known rounds.
Where is Zum Services headquartered?
Zum Services is headquartered in Redwood City, US.