School-Transport Firm Raises $37M

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School-Transport Firm Raises $37M
Joanna McFarland's HopSkipDrive announced funding in the third quarter.

Downtown-based HopSkipDrive has raised $37 million in Series D funding. The money will be used to grow the company three times during the coming school year.

The company, which offers school transportation services, already grew three times last year. The company did not respond to requests for comment on whether that growth represented an increase in revenue, number of rides or another figure.

The company is currently a partner of more than 400 school districts and 16,000 schools. HopSkipDrive recently expanded into Detroit, its 21st market.

“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,” Joanna McFarland, HopSkipDrive’s co-founder and chief executive, said in a statement. “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.”

New York-based investment firm Energy Impact Partners; Keyframe Capital, a New York-based investment advisor; New York-based venture capital firm FirstMark Capital; New Hampshire-based venture capital firm Alumni Ventures; and San Mateo-based venture capital firm Transform Capital were among the investors in the Series D raise.

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