Moovit raises $28 million in financing

Social transit app, known as the Waze of public transportation, reduces level of uncertainty in public transport.

Social transit app Moovit recently announced a $28 million funding round, which it hopes will help with Asia expansion plans. The round was led by Sequoia Capital, with participation from its existing investors BRM Group and Gemini Israel Ventures.

Similar to Waze, Moovit relies on crowd wisdom to save public transportation user’s time and reduce uncertainty.

The mobile app was included on ISRAEL21c’s Top 10 Israeli apps that are revolutionizing your journeys list.

Moovit counts over three million users in 100 cities. The app has reportedly handled more than one billion requests for real-time information and more than 10 million user-generated reports are created each day, according to a TechCrunch report.

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About Viva Sarah Press

Viva Sarah Press is an associate editor and writer at ISRAEL21c. She has extensive experience in reporting/editing in the print, online and broadcast fields. Her work has been published by international media outlets including Israel Television, CNN, Reuters, The Jerusalem Post and Time Out.