Optibus, a provider of a SaaS based platform for transportation operators, closed a $ 40M Series B financing.
The round was led by Insight Venture Partners with a strategic investment by Alibaba Group, and existing investors Verizon Ventures, Pitango Venture Capital, New Era Capital and Sir Ronald Cohen.
The company intends to use the funds for future product innovation and expansion into new and existing markets.
Led by Amos Haggiag, Co-founder and CEO, Optibus provides an SaaS platform that powers mass transportation. Optibus creates an operational plan and schedule that orchestrates the movements of every vehicle and driver in a city-wide transportation ecosystem, choosing the best options available to transit operators and agencies, and creating better service for passengers with lower operating costs.
Today, the company drives complex and large-scale transportation operations for some of the world’s largest transportation providers including Keolis, First Group, Transdev, and RATP Dev.
Optibus has offices in San Francisco, London, Tel Aviv, and Düsseldorf.