Blog Post

Moovit closes $28 million funding round to boost public transportation data

Stay on Top of Enterprise Technology Trends

Get updates impacting your industry from our GigaOm Research Community
Join the Community!

Moovit, the public transportation app that uses Waze-like crowdsourced data to give users accurate readings on their morning commute, has closed a $28 million funding round, led by Sequoia Capital, to make better use of the data it has collected on public transportation systems across more than 100 cities.

Moovit_New“If you think about what we’re doing today, we’re generating a huge amount of crowd data, up to half a billion reports per month,” Nir Erez, Co-founder and CEO of Moovit, told Gigaom. “This data is only partially used, and we want to provide as much comprehensive data as we can.”

The round also received participation from existing investors BRM Group and Gemini Israel Ventures. Erez says that Moovit, available for both iPhone(s aapl) and Android(s goog), currently has 3 million users, and has gained significant traction in both Latin America (Brazil, in particular) and Europe. Moovit’s core goal is to enable users to find real-time data about their public transit, finding quicker routes and sussing out the peculiarities of cities’ transport routes. Erex says that the company is not only looking forward to using the data it receives in more meaningful ways, but it also wants to find better ways to help communicate and track data from underground, where real-time isn’t a possibility.

“We’re working now to try and advance our ability to locate the exact location of users while they are using the subway, especially because of the fact that subways are so important,” Erez says. “Moovit provides directions, but there’s a lot of work that we’re doing on different kinds of sensors even if it isn’t an accurate GPS location.”

Since Moovit began its slow roll-out in January 2012, the company has garnered enough of a user base in areas like Rio De Janiero and Sao Paolo for the company to actually work with municipalities, providing user data for public transportation. Erez says that he’s looking to help cities provide more significant data — especially in Brazil, where both the World Cup and the Olympics will occur. With better data and better relationships with local government, Erez adds that it will lead to a better experience for the commuter.

“It should be something that our users should be proud of — it’s a cycle of giving back,” Erez said. “For us, the number one priority is to make our users happy by providing them the most accurate information.”

2 Responses to “Moovit closes $28 million funding round to boost public transportation data”

  1. At first glance, I was surprised the similar of functions to my beta web host, named by toutom, that was set up by myself in 2011, but after thorough research, some differences were realized:
    1) moovit is based on maps and GPS devices;
    2) moovit’s mechanics is crowd wisdom;
    3) running of moovit makes users’ mobiles running all the time;
    4) moovit serves passengers only.
    These features limit moovit’s market space, at least, it is difficult to use moovit in cities or state in where people are not rich, performance of mobile is poor and speed of wireless is slow, and passengers are more eager to use such service. The magnitude of passengers in developing countries is as 6-7 times as in developed countries. In less developed countries, passengers are often suffered from too crowded vehicles, wasting too much time to wait for the coming buses, being worried to be stolen unfortunately, or/and the terrible smell from someone who is in dirty status or eating food in the bus.
    My system, which removes the above limits, have been able to supply passengers, drivers and manager of transport entities more than 400 cities richer information service about running vehicles or ships or passengers but it costed only my less 600$ a year. Increasing cities for my system just demands the static bus line data of those cities that are easy to obtain. Its future business model is quite different from moovit. Stations lies the core of my system. Patent of the tech has been filed and has entered into public stage.