/C O R R E C T I O N -- Zūm/

In the news release, Zum Raises $100 Million From TPG to Accelerate Zum's Connected Mobility Experience (CMX) and for Continued Growth and Expansion, issued 16-Apr-2026 by Zūm over PR Newswire, we are advised by the company that changes have been made. The complete, corrected release follows, with additional details at the end:

Zum Raises $100 Million From TPG to Accelerate Zum's Connected Mobility Experience (CMX) and for Continued Growth and Expansion

New investment brings total funding to $430 million and valuation to $1.7 billion

REDWOOD CITY, Calif., April 16, 2026 /PRNewswire/ -- Zūm, the leader in Connected Mobility Experience (CMX™), today announced a $100 million strategic investment from TPG, bringing the company's total funding to $430 million and valuing Zum at $1.7 billion. TPG is making its investment through The Rise Funds, the multi-sector strategy of its global impact investing platform, and in connection with the investment, Steve Ellis, a Managing Partner of The Rise Funds, will join Zum's Board of Directors. 

The funding follows the introduction of the Zum CMX platform, a Connected Mobility Experience designed to address the fragmentation, delays, and lack of visibility that have long defined student mobility. New research unveiled today quantifies the impact of this antiquated system, identifying that 54% of parents report their child experiences worry or concern about school transportation—contributing to what Zum calls a nationwide "Transportation Anxiety Crisis" — and roughly $15 billion educational loss a year.

Together, these developments reflect a growing recognition that while transportation moves vehicles, mobility is about moving people, and that daily experience has remained largely unchanged for decades.

"Every day, millions of students depend on systems that were never designed to work in real time," said Ritu Narayan, Founder and CEO of Zum. "Zum CMX is our answer — a system we have been building and refining across 4,500 schools that brings visibility, coordination, and reliability to daily mobility. This funding allows us to accelerate what we know works and bring it to every student in America."

Investor Conviction in a Category-Defining Platform

"TPG invested in Zum because it's the leading innovator in one of the largest and most underserved critical transportation markets in the country," said TPG's Steve Ellis. "By fundamentally redesigning how student mobility is managed in real time, Zum's fully integrated AI powered system is delivering measurable gains in reliability, efficiency, and outcomes for students, their families, and school districts across the country."

This is a category-defining movement. Zum is not just improving student mobility —it is fundamentally redesigning how people, vehicles, and operations are coordinated in real time.

Across the $50 billion student mobility market, the largest segment of mass mobility, millions of daily rides are still managed through fragmented systems that lack real-time coordination. Zum CMX addresses this by integrating routing, dispatch, workforce management, safety, and communication into a single, continuous operating system.

Scaling Across School Districts Nationwide

Zum currently operates across more than 4,500 schools in 17 states, serving some of the largest districts in the country, including Los Angeles Unified School District, Boston Public Schools, San Francisco Unified School District, Omaha Public Schools, and Kansas City Public Schools.

The $100 million investment will accelerate:

• Expansion of Zum CMX across additional school districts nationwide
• Continued investment in AI-driven coordination and predictive operations
• Scaled infrastructure to support large-scale, real-time mobility systems

Proven Outcomes at Scale

Zum CMX is already delivering measurable results across every district it serves:

• 98% on-time bus arrival rate on average
• 20% reduction in bus fleet size through route efficiency
• 4.9 out of 5-star parent satisfaction across more than 1.7 million reviews
• Up to 10% reduction in annual transportation costs for the San Francisco Unified School District

These outcomes demonstrate how improved transportation reliability directly impacts attendance, learning readiness, and district financial sustainability.

The Transportation Anxiety Crisis

The investment coincides with the inaugural Zum Mobility Symposium in Sunnyvale, where school district leaders, policymakers, and researchers will gather to discuss the future of student mobility. At the event, Zum will formally introduce CMX as a new category and unveil research from NORC at the University of Chicago.

The findings highlight a system that was never designed to operate in real time, in which routing, dispatch, communication, and safety have historically operated in silos, creating anxiety for families and inefficiencies for districts. Zum CMX is designed to eliminate these root causes by bringing visibility, coordination, and accountability to every ride.

About Zum

Zum is revolutionizing mass mobility with its Connected Mobility Experience (Zum CMX™) system that connects and coordinates people, vehicles, and operations in real time. In the $50 billion student mobility market – the largest segment of the mass mobility industry – Zum CMX is transforming a daily source of anxiety and disruption into a reliable, transparent, and efficient mobility experience for students and families. Today, more than 4,500 schools rely on Zum CMX. Recognized globally for its innovative approach and operational execution, Zum has been named to Fast Company's World's Most Innovative Companies, CNBC Disruptor 50 and Changemakers, the World Economic Forum, and the Financial Times' Fastest Growing Companies lists. Zum is backed by leading investors including Sequoia Capital, GIC, SoftBank, and TPG. Zum, Zum CMX, and associated logos are trademarks of Zum Services, Inc. All rights reserved. Learn more at www.ridezum.com.

About TPG

TPG is a leading global alternative asset management firm, founded in San Francisco in 1992, with $303 billion of assets under management and investment and operational teams around the world. TPG invests across a broadly diversified set of strategies, including private equity, impact, credit, real estate, and market solutions, and our unique strategy is driven by collaboration, innovation, and inclusion. Our teams combine deep product and sector experience with broad capabilities and expertise to develop differentiated insights and add value for our fund investors, portfolio companies, management teams, and communities.

About The Rise Funds
The Rise Funds are a core pillar of TPG's global impact investing platform. Founded in 2016 by TPG in partnership with Bono and Jeff Skoll, The Rise Funds invest behind impact entrepreneurs and growth-stage, high potential, mission-driven companies that are focused on building and scaling solutions to the world's most complex challenges. The Rise Funds deliver capabilities and expertise across a wide variety of sectors and countries at scale, focusing on opportunities in climate and decarbonization, education, financial inclusion, healthcare, and impact technology.

TPG's Impact Platform is the world's largest of its kind, managing approximately $31 billion in assets across a family of funds that pursue non-concessionary returns and social and environmental impact at scale through growth equity, private equity, and infrastructure investing strategies.

CONTACT: 

For Zum:
Jenny Mayfield
Vice President of Communications
[email protected]

For TPG:
Ari Cohen
[email protected]

Correction: The hyperlink under 'The Transportation Anxiety Crisis' header was updated.

View original content to download multimedia:https://www.prnewswire.com/news-releases/zum-raises-100-million-from-tpg-to-accelerate-zums-connected-mobility-experience-cmx-and-for-continued-growth-and-expansion-302744410.html

SOURCE Zūm