Optibus, a Tel Aviv, Israel-based end-to-end software platform for public transportation planning and operations, raised $100m in Series D funding.
Backers included Insight Partners, Bessemer Venture Partners, Verizon Ventures, Pitango First & Pitango Growth, Tencent, SOMV Momentum, and others. This latest round of financing brings Optibus’ total funding to $260m and its valuation to $1.3 billion.
The company plans to use these funds to expand its product and service offerings, including real time operations and electric vehicle management, as well as to increase its global presence in both existing and new markets.
Led by CEO and co-founder Amos Haggiag, Optibus is an end-to-end, cloud-native solution for transportation planning, scheduling, rostering, and operations, powered by artificial intelligence (AI) and optimization algorithms. It is used by transportation agencies and operators worldwide in over 1,000 cities to improve efficiency, service quality, promote transport equity, reduce emissions, lower costs, modernize operations, and increase their operational effectiveness.
Optibus has launched Ridership Insights. It allows planners to visualize and analyze ridership data directly on a map during the network planning phase. This provides planners with a better understanding of how the city moves. Planners have the ability to view their ridership KPIs for a route, segment, and stop level. This includes boarding and disembarking data for each stop. You can also filter by date and time. This data enhances insight into how the network is performing, resulting in better routes that meet passengers’ needs.