Hitting half a billion users, Moovit’s company has had a big year. The firm’s unique ability to deliver an intuitive urban mobility application in 94 countries around the globe made it a leader in the field.
Moovit is an Israeli urban mobility firm that operates all over the world. With over half a billion users of its public transportation application, the company hits this summer a significant milestone and made commutes smoother. Moovit relied on existing partnerships and sparked new ones with major multinationals such as Microsoft, Uber and Waze, an Israeli application sold to Google for $1 billion in 2013.
Moovit was founded in 2012 by three entrepreneurs: Roy Bick, Nir Erez and Yaron Evron. At its beginnings, the company headquartered in Ness Ziona offered services limited to tracing the best route to a certain destination using public transport. Today, Moovit offers itinerary options for getting around by train, subway, taxi, scooter, bike and even on foot, with real-time schedules to help users find the most efficient way to their destinations.
Accomplishments and future goals
According to Crunchbase, a business information platform, the company raised over $3 million in venture financing in its beginnings, $28 million a year later and another $50 million in 2015. In February 2018, an additional $50 million was invested by Intel Capital (the investment arm of Intel Corp.) in Moovit’s most recent funding round.
Since 2017, Moovit also sells internationally transit data analytics to transportation agencies through its Smart Transit Suite. The latter provides valuable information to cities, municipalities, governments and transportation organisations. Today, Moovit services span 500 million users, 3 000 cities, 94 countries, 45 languages. The company employs 200 staff members in its offices in the US, South America, Europe and Asia. It also expects to reach over a billion users by 2021, less than a decade from its founding.