Management & Operations

Moovit prepares for expansion, adds $50M in funding

Posted on January 15, 2015

Moovit, the intelligent local transit app, closed $50 million in Series C funding from Nokia Growth Partners, BMW i Ventures, Keolis, Bernard Arnault Group and Vaizra Investments to further expand its service in key markets and to continue to grow its participatory community of 15 million local transit riders. Existing investors BRM Group, Gemini Partners and Sequoia Capital also participated. The round will enable Moovit to bring its world-class community to larger audiences.

Moovit is setting a new standard for consumer access to real-time local transit directions through a combination of its free smartphone app and a hyper-engaged community. The company, which recently opened its international headquarters in San Francisco, has already doubled its user community in the last six months.

"Since our last round, Moovit has seen tremendous growth in our initial markets. Now it's time to bring community-powered local transit to people around the globe," said Nir Erez, CEO of Moovit.

Moovit's community model allows it to scale at incredible rates by providing the most accurate directions to people who rely on local transportation to navigate their daily lives. Riders also contribute to Moovit's transit layer and engage in live transit prediction-mapping, which helps other transit riders travel faster and more comfortably.

View comments or post a comment on this story. (0 Comments)

More News

Study explores how to attract, retain women in transportation industry

Women accounted for less than 15% of the total transportation workforce in 2017, according to data.

Report says NY MTA misled public for years about subway delays

MTA said "report is more history and politics than news, focusing on rejected practices of the past while glossing over recent reforms."

Tolar receives 3rd consecutive multi-year DART shelter contract

Company has developed a customized SmartPlace™ transit shelter solution that includes real-time passenger information.

MV partners with Latinos in Transit to promote industry diversity

LIT members are public and private sector transportation professionals from across the U.S.

TriMet names new chief operating officer

Sam Desue Jr. brings more than 22 years of public and private transportation experience, including KCATA and Pierce Transit. 

See More News

Post a Comment

Post Comment

Comments (0)

More From The World's Largest Fleet Publisher

Automotive Fleet

The Car and truck fleet and leasing management magazine

Business Fleet

managing 10-50 company vehicles

Fleet Financials

Executive vehicle management

Government Fleet

managing public sector vehicles & equipment

TruckingInfo.com

THE COMMERCIAL TRUCK INDUSTRY’S MOST IN-DEPTH INFORMATION SOURCE

Work Truck Magazine

The number 1 resource for vocational truck fleets

Schoolbus Fleet

Serving school transportation professionals in the U.S. and Canada

LCT Magazine

Global Resource For Limousine and Bus Transportation