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ZUUM closes $22 Million Capital Round for Logistics Technology
Irvine, Calif. — Feb. 10, 2022 —ZUUM Transportation, a California-based logistics technology provider for manufacturers, retailers, freight brokers and carriers, announces the close of its latest $22 Million Dollar Round in collaboration with its Investors and Capital Partners, including Bridge Bank and Trinity Partners.
“It’s rewarding to work with a company like Zuum that is making a difference for such a great stable of internationally recognized clients,” said Justin Vogel, senior vice president in Bridge Bank’s Capital Finance Group. “Bridge Bank appreciates the innovation Zuum brings to the logistics industry.”
Bridge Bank contributes a $10 million asset-based loan facility for Zuum Transportation INC, as part of this round, in preparation for ZUUM’s Series A in 2022.
Founded in 2016, Zuum’s clients include BNSF Logistics, Estes Forwarding Worldwide, Hyundai Glovis, Tyson, Sherwin Williams and Staples among other Fortune 500, midsize and small businesses. The company offers shipper transportation management systems (TMS), freight broker software, a carrier TMS and a mobile app for truck drivers that are connected within the company’s Logistics Super Platform. The tools enable customers to enhance the efficiency and effectiveness of their logistics operations while simultaneously automating their transportation networks.
“We’re all about smooth processes and enhanced efficiencies, the same qualities Bridge Bank brings to clients,” said Matt Tabatabai, co-founder and chief operating officer of Zuum. “Our goal is to defragment the logistics industry through collaboration and partnerships — including with our lender.”
The Capital Finance Group at Bridge Bank offers a range of asset-based lending and factoring solutions, including accounts receivable, inventory and invoice financing, to provide lines of credit and working capital. The group’s expertise supports companies in manufacturing, professional services, retail, technology and more that are experiencing unusual market conditions that might hamper their ability to adhere to traditional covenants and credit structures.
About ZUUM Transportation
ZUUM Transportation, Inc. is a logistics technology company based in Irvine, CA. Founded in 2016, ZUUM offers a shipper TMS, freight broker software, carrier TMS, and a mobile app for truck drivers that are connected within the Logistics Super Platform. These tools enable customers to enhance the efficiency and effectiveness of their logistics operations while simultaneously automating their transportation networks. Our vision is to optimize logistics and streamline supply chains globally by defragmenting the industry through collaboration and partnerships.
About Bridge Bank
Bridge Bank, a division of Western Alliance Bank, Member FDIC, helps business clients realize their ambitions. Founded in 2001 in Silicon Valley, Bridge Bank offers a better way to bank for small- to mid-market businesses across many industries, as well as emerging technology companies and the private equity community. Geared to serving both venture-backed and non-venture-backed companies, Bridge Bank delivers a broad scope of financial solutions including capital, equipment and working capital credit facilities, venture debt, treasury management, asset-based lending, SBA and commercial real estate loans, ESOP finance and a full line of international products and services. Based in San Jose, Bridge Bank has 16 offices in major markets across the country along with Western Alliance Bank’s powerful array of specialized financial services. Western Alliance Bank is the primary subsidiary of Phoenix-based Western Alliance Bancorporation, with more than $50 billion in assets. Western Alliance is again #1 best-performing of the 50 largest public U.S. banks in the new S&P Global Market Intelligence listing for 2020 and ranks high on the Forbes “Best Banks in America” list year after year. For more information, visit bridgebank.com.