Social Transit App Moovit Raises $28 Million to Collect Public Transit Data

Excerpt from TechCrunch

Dec 18, 2013 1:00 pm

Skift Take

This brings Moovit’s total funding to $31.5 million with investors viewing it as the next Waze, a social crowdsourced collection of data that could one day prove highly valuable to Google Maps or competitors.

— Samantha Shankman

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Social transit app Moovit is announcing a massive round of funding this morning, closing a $28 million round led by Sequoia Capital, with participation from its existing investors BRM Group and Gemini Israel Ventures.

In the same way Waze was able to crowdsource traffic data, Moovit has been able to be the social destination to find data around public transit. Moovit, which launched in 2012, offers Android and iOS apps that gives users data around when the next bus or subway or train or ferry (any public transport) is due to arrive in real-time.

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