IRVINE, Calif., Feb. 10 10, 2022 (GLOBE NEWSWIRE) — ZUUM Transportation, a California-based logistics technology provider to manufacturers, retailers, freight brokers and carriers, announces the closing of its $22 million latest round in collaboration with its investors. and Capital Partners, including Bridge Bank and Trinity Partners.
“It’s gratifying to work with a company like ZUUM that makes a difference for such a large stable of internationally recognized clients,” said Justin Vogel, senior vice president of Bridge Bank’s Capital Finance Group. “Bridge Bank appreciates the innovation that ZUUM brings to the logistics industry.”
Bridge Bank is providing 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 customers include BNSF Logistics, Estes Forwarding Worldwide, Hyundai Glovis, Tyson Foods, Sherwin-Williams and Staples, among others Fortune 500, medium and small businesses. The company offers transportation management systems (TMS) for shippers, freight brokerage software, carrier TMS and a mobile app for truck drivers that are connected within the company’s super logistics platform . The tools allow customers to improve the efficiency and effectiveness of their logistics operations while simultaneously automating their transportation networks.
“We value process fluidity and improved efficiency, the same qualities that Bridge Bank brings to its customers,” said Matt Tabatabai, co-founder and COO of ZUUM. “Our goal is to defragment the logistics industry through collaboration and partnerships, including with our lender.”
Bridge Bank’s Capital Finance group 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 the manufacturing, professional services, retail, technology and other industries that are experiencing unusual market conditions that may impede their ability to meet covenants and structures. traditional credit.
About ZUUM Transport
ZUUM Transportation, Inc. is a logistics technology company based in Irvine, California. Founded in 2016, ZUUM offers a TMS for shippers, a freight brokerage software, a TMS for carriers and a mobile application for truck drivers connected within the Logistics Super Platform. These tools enable customers to improve 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.
ZUUM – AUTOMATE YOUR FREIGHT™
For more information, visit zuumapp.com
Zuum Transportation, Inc.
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