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Moovit
Moovit (Hebrew: מוביט) is an Israel-based mobility as a service provider and journey planner app. It is owned by Mobileye and was acquired by Intel in 2020 until Mobileye's IPO in 2022. Moovit uses both crowdsourced and official public transit data to provide route planning to users as well as transit data APIs to transit companies, cities, and transit agencies. Because Moovit integrates crowdsourced data, it can provide transit information for areas where no data is officially available.
Originally named Tranzmate, Moovit was founded as a startup in Israel in 2012 by developers Nir Erez, Roy Bick, and Yaron Evron. The company raised $3.5 million in its first round of funding from Gemini Funds and BRM Capital. By the beginning of 2013, the company launched worldwide. In 2013, Moovit went on to receive $28 million of funding from venture-capital Sequoia Capital, BRM Group, and Gemini Funds.
In March 2014, Moovit launched a "community editor" allowing volunteer editors to generate schedule and map data, providing transit data for areas where no data is officially available to app developers.
In January 2015, the company raised $50 million in its Series-C funding round from new and previous investors.
In 2016, Moovit was awarded The Atlas Award by the think-tank Ayn Rand Institute.
In February 2018, Moovit raised another $50 million in its Series-D funding round. The funding was led by Intel Capital, the venture capital arm of Intel, with additional participation by former investors. As part of the round, Amnon Shashua, vice president of Intel, joined Moovit's board of directors as an observer.
In December 2017, the app reached 100 million users. It provided service in 1,500 cities in 78 countries. In August 2019, Moovit announced that it is used by over 500 million people around the world and is available in more than 3,000 cities across 92 countries around the world. In February 2020, the app reached 720 million users and provided service in 100 countries, and by May 2020, when Intel acquired Moovit, it had 800 million users.
In May 2020, Moovit was acquired by Intel for $900 million to enhance Intel's purchase of another Israeli mobility tech firm, Mobileye. In October 2022; Intel took Moovit's unit public as part of Mobileye's IPO.
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Moovit
Moovit (Hebrew: מוביט) is an Israel-based mobility as a service provider and journey planner app. It is owned by Mobileye and was acquired by Intel in 2020 until Mobileye's IPO in 2022. Moovit uses both crowdsourced and official public transit data to provide route planning to users as well as transit data APIs to transit companies, cities, and transit agencies. Because Moovit integrates crowdsourced data, it can provide transit information for areas where no data is officially available.
Originally named Tranzmate, Moovit was founded as a startup in Israel in 2012 by developers Nir Erez, Roy Bick, and Yaron Evron. The company raised $3.5 million in its first round of funding from Gemini Funds and BRM Capital. By the beginning of 2013, the company launched worldwide. In 2013, Moovit went on to receive $28 million of funding from venture-capital Sequoia Capital, BRM Group, and Gemini Funds.
In March 2014, Moovit launched a "community editor" allowing volunteer editors to generate schedule and map data, providing transit data for areas where no data is officially available to app developers.
In January 2015, the company raised $50 million in its Series-C funding round from new and previous investors.
In 2016, Moovit was awarded The Atlas Award by the think-tank Ayn Rand Institute.
In February 2018, Moovit raised another $50 million in its Series-D funding round. The funding was led by Intel Capital, the venture capital arm of Intel, with additional participation by former investors. As part of the round, Amnon Shashua, vice president of Intel, joined Moovit's board of directors as an observer.
In December 2017, the app reached 100 million users. It provided service in 1,500 cities in 78 countries. In August 2019, Moovit announced that it is used by over 500 million people around the world and is available in more than 3,000 cities across 92 countries around the world. In February 2020, the app reached 720 million users and provided service in 100 countries, and by May 2020, when Intel acquired Moovit, it had 800 million users.
In May 2020, Moovit was acquired by Intel for $900 million to enhance Intel's purchase of another Israeli mobility tech firm, Mobileye. In October 2022; Intel took Moovit's unit public as part of Mobileye's IPO.