Moovit, an Israeli crowdsourced transit mobile service, closed a $28m funding.
The round, which brought total venture funding to $31.5m, was led by Sequoia Capital, with participation from its existing investors BRM Group and Gemini Israel Ventures.
The company intends to use the funds to enhance service in the 100 cities in which it operates, while expanding to new markets. In conjunction with the funding, Gili Raanan (Sequoia) will join Moovit’ board.
Led by Nir Erez, Co-founder and CEO, Moovit combines transit data with live inputs from the crowd to provide users with a complete real-time view of what the trip will be like. The app offers timetables, real time departure and arrival information, trip planning and point-to-point navigation across public transit options (bus, train, light rail, subway, ferry).
The service is available across more than 100 cities around the world including New York, London, Los Angeles, Paris, Madrid, Barcelona, Rome, Sao Paulo, Rio de Janeiro, Bogota, Santiago de Chile, Mexico D.F., Sydney, Toronto, and Tel Aviv.
The app is free for iPhone and Android.
FinSMEs
18/12/2013