Optibus, a provider of SaaS-based platform for the transportation operators has now raised $40 Million in the funding round of Series A. The Insight Venture Partners led the round with a strategic investment by the Alibaba Group and Verizon ventures, New Era Capital, Sir Ronald Cohen, and Pitango Venture Capital. The company as of now has a plans to use the funds for product innovation and expansion into some of the new and existing markets.
The startup which is led by the Amos Hagging. Optibus offers a SaaS platform which empowers the power mass transportation. Optibus creates an operational plan and schedule that orchestrates the movements of every vehicle and driver in a citywide transportation ecosystem, with respect to choosing the best options available to transit operators and agencies, and creating the better service for passengers with the lower operating costs. Nowadays, the company drives the complex and large scale transportation operations for some of the largest transportation providers which include the First Group, RATP Dev, and Keolis.
Optibus has offices in San Francisco, London, Tel Aviv, and Düsseldorf.
“Every city on the globe runs a multi-million to multi-billion dollar mass transit service, yet the operations rely on outdated software and manual practices to plan, optimize, and run transportation,” said Amos Haggiag, Co-founder and CEO of Optibus. “This wastes resources and delivers poor passenger service. On the other hand, rapid innovations in urban mobility are pushing transportation providers to modernize, and Optibus creates the technology infrastructure that can ensure better performance from the passenger's point of view.”
“Dynamic transportation planning and operation will play a major role in enabling the future of transportation,” says Ross Devor, Managing Director at Insight Venture Partners. “Deploying autonomous or electric vehicles into large fleets or integrating new modes of mobility into existing service are essential tasks that require a unique technology stack. The Optibus platform can handle those complexities at scale, and we're looking forward to working with the Optibus team to leverage the momentum and help bring real innovation to market.”
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