Child ridesharing company HopSkipDrive has raised $25 million to expand its operations, which provide customized transportation service to children.
The funding, from Energy Impact Partners, Keyframe Capital, FirstMark Capital, and 1776 Ventures, will support various expansion projects, including vehicle electrification initiatives and 30 new market launches, according to a news release from HopSkipDrive.
“School transportation is the largest mass transit system in the U.S., and it’s reaching a breaking point,” said Joanna McFarland, co-founder and CEO of HopSkipDrive. “With critical bus driver shortages and increased individualized needs, school districts are being forced to optimize learning around logistics. We are reshaping school transportation by complementing traditional yellow bus solutions so districts can instead optimize their logistics around learning.”
Founded in 2014, HopSkipDrive has partnered with over 300 schools, school districts, and counties in nine states, including Arizona, California, Colorado, Nevada, Texas, Washington, Virginia, and the Washington D.C. region.
Currently, 19% of HopSkipDrive's vehicles are hybrid or electric vehicles (EVs). In Seattle, one of HopSkipDrive’s largest markets, over 40% of HopSkipDrive's vehicles are hybrid or EVs.
“We are excited and proud to lead this funding round. As a VC fund specializing in the clean energy transition, we believe in HopSkipDrive’s mission and the way green initiatives are at the forefront of what they do,” said Cassie Bowe, principal of Energy Impact Partners. “HopSkipDrive is creating a nationwide student transportation platform that is not only reshaping school transportation to bring more equitable access to education, but also creating an accelerated path to electrification.”