ZUUM Closes $22 Million Capital Round for Logistics Technology
ZUUM Transportation, a California-based logistics technology provider for manufacturers, retailers, freight brokers and carriers, announces the close of its latest $22 Million Round in collaboration with its Investors and Capital Partners, including Bridge Bank and Trinity Partners.
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“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 Foods, 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.
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