Waze Raises $25 Million
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Waze is a live social GPS map company that lets you announce when you run into issues on certain roads like traffic jams or a police officer giving away speeding tickets. Wave has about 2 million users and has logged over 250 million kilometers. Waze has raised $25 million in Series B funding.
This Series B round of funding was led by existing investor Blue Run Ventures. Other Existing investors Magma Venture Partners and Vertex Venture Capital was also a part of this round. And new investor Qualcomm Ventures joined this round. This round of funding will go towards talent growth and marketing. They are also moving their office from Tel Aviv, Israel to Palo Alto, California.