HopSkipDrive raises $37 million
HopSkipDrive, a provider of school transportation solutions, has raised $37 million in Series D funding from Energy Impact Partners, Keyframe Capital, FirstMark Capital, Alumni Ventures, Transform Capital and others.
Founded in 2014, the California-based company claims that its “industry-leading approach” solves bus driver shortages, reduces school commute times, gives families and caregivers full visibility and transparency, and saves districts money.
HopSkipDrive maintains a comprehensive automobile insurance policy that is in effect while CareDrivers are logged into the HopSkipDrive application and either on the way to pick up a Rider or while transporting a Rider. The insurance company behind the coverage is Fairco. HopSkipDrive says that CareDrivers earn up to $40 per hour, from the time of rider pick-up to the time of drop-off, plus any paid waiting time.
HopSkipDrive currently operates in 21 major markets in 12 states, contracting with over 400 school districts.
“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. 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.” – HopSkipDrive co-founder and CEO Joanna McFarland.