LOS ANGELES — Child ridesharing company HopSkipDrive has raised $22 million to expand its operations, which provide customized transportation service to children.
The funding, from Cyrus Capital Partners, State Farm Ventures, and some of HopSkipDrive’s existing investors has brought the company’s total venture capital backing to $44 million, according to a news release from HopSkipDrive.
“This funding will help us expand into more markets where the lack of safe, reliable transportation is a barrier to children reaching their full potential,” said Joanna McFarland, co-founder and CEO of HopSkipDrive. “We’ve helped thousands of students experiencing homelessness, in foster care, or with other special circumstances, get to and from school and extracurricular activities, and we’ve seen how something as simple as a ride can make the difference between struggle and success. Each new market means we’re bringing opportunity to more children.”
Founded in 2014, HopSkipDrive has partnered with over 200 schools, school districts, and counties in eight states, including Arizona, California, Colorado, Texas, Washington, Virginia, and the Washington D.C. region. More recently, in January, the company announced its expansion to Las Vegas and its partnership with Clark County Child Welfare Services to help students in foster care get to and from school.
“HopSkipDrive is solving a major problem within school transportation, the country’s largest mass transit system, and doing it in a unique way that creates wins for kids, school districts, and communities,” said John Rapaport, partner at Cyrus Capital, one of HopSkipDrive's investors. “Their technological innovation, strong leadership, and proven expansion strategy keep them moving in an upward trajectory. We’re proud to invest in HopSkipDrive’s continued success.