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Moovit raises $28 million in financing

Posted By Viva Sarah Press On January 7, 2014 @ 9:57 am In | No Comments

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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