Moovit raises $28 million
Moovit is a public transportation app that gives users information about their commutes. Moovit has raised $28 million in funding led by Sequoia Capital with participation from existing investors BRM Group and Gemini Israel Ventures.
The company plans on using the funding to make better use of the data that they have collected on public transportation systems across over 100 cities. The company generates around half a billion reports per month and that data is just partially used.
Moovit is available on the iPhone and Android. Moovit has 300 million users and has gained a lot of attention in Latin America (especially Brazil) and throughout Europe. Moovit wants to make it possible for users to find real-time data about their public transit and find quicker routes.