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Wednesday, Feb 28, 2024

HopSkipDrive Raises $22 Million

HopSkipDrive, a rideshare service for children, raised a $22 million funding round.

The startup will use the funds to expand its service into more metro areas. It currently operates in eight states and works with roughly 200 schools.

HopSkipDrive lets parents schedule rides for their children to and from school up to eight hours in advance. Drivers on the platform are certified caregivers and pass rigorous background checks, the company says.

State Farm Ventures led the round, and Greycroft joined as a new backer of HopSkipDrive.

The company’s other investors include Upfront Ventures and Trousdale Ventures. Aaron Hirschhorn, founder of startup DogVacay, also invested in HopSkipDrive.

Since its 2014 launch, HopSkipDrive has raised roughly $98 million in venture and private equity funding, according to industry tracker PitchBook Data Inc.

“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,” HopSkipDrive Chief Executive Joanna McFarland said in a statement.

“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,” added McFarland.

Los Angeles Department of Child and Family Services Education Specialist Tina Garcia said in a statement that “being able to continue attending their school of origin is often the most stability foster youth have (and) that would have been impossible for many of them without HopSkipDrive, an invaluable partner in supporting the educational stability of our foster youth.”

Tech reporter Samson Amore can be reached at samore@labusinessjournal.com or (323) 556-8335. Follow him on Twitter @samsonamore.

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