Optibus, a Tel Aviv, Israel-based end-to-end software platform for public transportation planning and operations, raised $100m in Series D funding.
Backers included Insight Partners, Bessemer Venture Partners, Verizon Ventures, Pitango First & Pitango Growth, Tencent, SOMV Momentum, and others. This latest round of financing brings Optibus’ total funding to $260m and its valuation to $1.3 billion.
The company intends to use the funds to expand into new product and service offerings including real-time operations and electric vehicle management, and strengthen its global presence in existing and new markets.
Led by CEO and co-founder Amos Haggiag, Optibus is an end-to-end, cloud-native solution for transportation planning, scheduling, rostering, and operations, powered by artificial intelligence (AI) and optimization algorithms. Transportation agencies and operators in 1,000 cities worldwide use it to increase efficiency and service quality, promote transportation equity, reduce emissions and costs, and modernize their operations.
With the launch of Ridership Insights, Optibus enables the visualization and analysis of ridership data directly on the map during the network planning phase, giving planners deeper insight into how the city moves. Planners can view their ridership KPIs on a route, segment, or stop level, with boarding and alighting data for each stop, or filter by time and date range. This data enhances insight into how the network is performing, resulting in better routes that meet passengers’ needs.