Social Navigation Company Waze Raises $30 Million

Posted Oct 18, 2011

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.