Social Navigation Company Waze Raises $30 Million
Waze is a social navigation company that has raised $30 million in funding. Investors in this round include Horizons Ventures Hong Kong (Li Ka-shing’s private venture investments), Kleiner Perkins Caufield & Byers, and the iFund. Waze has raised a total of over $55 million thus far.
John Malloy of Blue Run Ventures and Jason Wong of Horizon Ventures has joined the board of directors at Waze. Mary Meeker has joined Waze as a strategic advisor and board observer at Waze as well.
Waze started in 2009 and has free apps on the iPhone, Android, BlackBerry, and Windows Phone 7. The app has turn-by-turn directions and uses user data for building maps. Waze users are reporting a traffic jam every 4.2 seconds.
Waze said that the company plans on expanding internationally. Waze has seen some accelerated growth in Spain, Mexico, Malaysia, and Brazil.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry