Moovit, an Israeli intelligent local transit app, closed $50m Series C funding.
Backers included Nokia Growth Partners, BMW i Ventures, Keolis, Bernard Arnault Group, and Vaizra Investments and existing investors BRM Group, Gemini Partners and Sequoia Capital.
The company intends to use the funds to further expand its service and to continue to grow its participatory community of 15 million local transit riders.
Led by Nir Erez, CEO, Moovit provides an app for users to travel on public transport. By combining information from public transport operators and authorities with live information from the user community, Moovit offers travelers a real-time picture and the best routes. Users can send active reports about their travel experience, such as bus congestion levels, cleanliness, etc.
The company recently opened its international headquarters in San Francisco.
It is available for free in the Apple iTunes App Store, Google Play App Store, Windows Phone App Marketplace, or at moovitapp.com.