Israeli public transportation optimisation firm, Optibus, has raised $40m in a B financing round, led by Insight Venture Partners with a strategic investment by Alibaba Group.
The company said the series B funding will drive future product innovation and support expansion into new and existing markets. Existing investors, including Verizon Ventures, Pitango Venture Capital, New Era Capital and Sir Ronald Cohen, also participated in the round. Optibus’ platform is an end-to-end, software-as-a-service (SaaS) offering that aims to help power mass transportation.
Optibus creates an operational plan and schedule that orchestrates the movements of every vehicle and driver in a city-wide transportation ecosystem, choosing the best options available to transit operators and agencies, and creating better service for passengers with lower operating costs.