Moovit App Global Ltd., a Tel Aviv, Isreael-based transit app provider, closed a $50m Series D funding round.
The round, which brings total funding to date to $133m, was led by Intel Capital with participation from Sequoia, BMW iVentures, NGP, Ashton Kutcher’s Sound Ventures, BRM, Gemini, Vaizra, Vintage, and Hanaco. In conjunction with the funding, Professor Amnon Shashua, Senior Vice President of Intel and CEO / CTO of Mobileye, will join Moovit’s Board of Directors as an observer.
Led by CEO Nir Erez, Moovit provides a free app featuring comprehensive transit information to more than 120 million users in more than 2,000 cities in 80 countries. It is available for free on iOS, Android and the Web. The company has also collected a large repository of transit data and offers it throught the Smart Transit Suite, which allows municipalities and transit operators to manage their networks.
Moovit intends to use the funds to expand its global sales team, enhance its consumer products to support user growth, and invest in its Mobility as a Service (MaaS) platform.