Optibus Raises $100 Million at $1.3 Billion Valuation

Optibus is an AI-enabled SaaS platform for planning and running mass transportation. Optibus uses the power of optimization algorithms and machine learning for redefining the way mass transportation is planned and operated. The company’s service helps transportation operations worldwide to improve their services, save money, increase efficiency, and streamline operations.

The funding round Series D investors’ list includes Insight Partners, Bessemer Venture Partners, Verizon Ventures, Pitango First & Pitango Growth, Tencent, and SOMV Momentum. This round makes Optibus the first unicorn in the public transportation tech. “Optibus has modernized the industry and helped cities around the world bring quality and reliable transportation to their residents. As long-time investors in the company, we’re excited to continue our partnership with Amos and the team,” Teddie Wardi, managing director at Insight Partners.

Optibus, Tel Aviv, Israel, was founded by Amos Haggiag, Eitan Yanovsky, and Gady Shlasky in 2014. In the beginning, the company focuses on AI-based planning tools to help transportation companies to manage their resources during rush hours, slow periods, social distancing, etc. At that moment, Optibus wider the set of features, e.g. new analytics engine for more granular data provision based on routes, time, and date. As of now, the company’s customers locate in over 1000 cities, this number has increased twice since last year. The employee team also enlarged up to 300 employees. Optibus is used for tracking and powering approximately 2.5 billion trips on subways, light rails, on-street trams, and buses around the world. 

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