Optibus announced that it has closed $100 million in Series D funding, with investments from 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 $260 million and its valuation to $1.3 billion, making Optibus the first unicorn dedicated to the public transportation sector.
Optibus closes the round as it launches Ridership Insights and will use the funding to advance its software platform for all public transportation planning and operations needs and expand into new product and service offerings including real-time operations and electric vehicle management.
"Optibus combines innovation and public transportation expertise like no one else in the industry," said Carla Stockton-Jones, UK managing director at Stagecoach Group. "Their software is revolutionizing our business and day-to-day operations, as well as the passenger experience. Optibus is the future of public transportation and we celebrate this fantastic milestone with them."
With the launch of Ridership Insights, Optibus enables the 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.
"Optibus is proud to be the first unicorn dedicated to public transportation, which is at the core of a healthy and equitable society," said Amos Haggiag, Optibus CEO/co-founder. "By putting powerful technology in the hands of industry professionals, Optibus helps to increase transportation equity and ridership while reducing emissions and costs. Our investors and employees see the double promise of Optibus to generate both social good and ROI, and we are thrilled to lead the industry’s digital transformation."
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