Funding will fuel the modernization of school transportation and expansion efforts across the country
LOS ANGELES, Sept. 13, 2022 /PRNewswire/ -- HopSkipDrive, the leader in innovative, scalable school transportation solutions, announced today that it raised $37M in Series D funding from Energy Impact Partners, Keyframe Capital, FirstMark Capital, Alumni Ventures, Transform Capital and others.
HopSkipDrive will use the funding to continue its ambitious transformation and modernization of school transportation — the company grew 3x last year and plans to grow another 3x in the upcoming year. HopSkipDrive is already the partner of choice for over 400 school districts and 16,000 schools. The company recently launched its 21st market: Detroit, MI.
At a time when school districts are suffering due to major staffing shortages — 88% of districts report they are affected by school bus driver shortages — and pandemic learning loss, HopSkipDrive empowers them to drive greater equity through transportation in an efficient, cost-effective, and safe way. With its innovative RideIQ solution, HopSkipDrive helps districts optimize their transportation plans and create more efficient multi-modal route solutions.
HopSkipDrive's unique industry-leading approach solves bus driver shortages, reduces school commute times, gives families and caregivers full visibility and transparency, saves districts money, and reduces the carbon footprint of school transportation.
Energy Impact Partners Partner Cassie Bowe says, "We are excited to double down on our investment and fund further expansion. HopSkipDrive is doing something that's never been done before — bringing school transportation into the modern era through assessing and optimizing transportation planning, creating a new and unique driver supply, and providing multi-modal solutions to improve how kids get to school. With this funding, we also look forward to HopSkipDrive continuing to expand sustainable transportation options for schools."
HopSkipDrive Co-founder and CEO Joanna McFarland says, "This funding fuels our path toward achieving our vision of a modern school transportation system, one that is safe, equitable, efficient and resourced to give kids the opportunities they deserve with both in school and after-school activities. HopSkipDrive is revolutionizing school transportation through assessment, optimization and supplementation of traditional yellow bus solutions. With this funding, we'll expand our reach, getting more kids to school safely and with lower commute times so they can focus on learning."
HopSkipDrive's RideIQ solution is already transforming school transportation for over 400 districts in 12 states, including Seattle Public Schools and Denver Public Schools.
Albert Samora, Executive Director of Transportation for Denver Public Schools, showcases the company's impact: "HopSkipDrive has been a necessary and invaluable school transportation partner to Denver Public Schools. Bus driver shortages have been challenging to our transportation department, but HopSkipDrive's introduction of a flexible driver supply and easy-to-use technology helped us free up assets and optimize our transportation."
HopSkipDrive currently operates in 21 major markets in 12 states, contracting with over 400 school districts. To date, HopSkipDrive CareDrivers have driven 20M+ miles and safely delivered 2M Riders to over 16,000 schools.
Learn more about HopSkipDrive. Read the HopSkipDrive State of School Transportation 2022 Report.
Designed by protective moms and driven by caregivers, HopSkipDrive is the leader in innovative, scalable transportation solutions for schools, districts, government agencies and families. HopSkipDrive's advanced technology platform and industry-leading operational expertise provide school districts with safety, flexibility and visibility while helping to create opportunity for all through mobility.
HopSkipDrive currently operates in 21 major markets across 12 states, and has contracts with 400+ school districts and county government agencies. HopSkipDrive CareDrivers have safely driven 2M Riders over 20M+ safe miles.
Learn more at www.hopskipdrive.com.
Energy Impact Partners (EIP) is a global investment platform leading the transition to a sustainable energy future. EIP brings together entrepreneurs and the world's most forward-looking energy and industrial companies to advance innovation. With over $2.5 billion in assets under management, EIP invests globally across venture, growth, credit and infrastructure — and has a team of more than 60 professionals based in its offices in New York, San Francisco, Palm Beach, London, Cologne, and soon Oslo.
For more information on EIP, please visit www.energyimpactpartners.com.