A cloud-native AI platform for planning and managing mass transit, Optibus is situated in Tel Aviv, Israel, and just secured $107 million in Series C funding.
Co-led by Bessemer Venture Partners and Insight Partners, the round, which raised the company’s total funding to $160 million since its establishment in 2014, also included current investors Verizon Ventures, Pitango, New Era Capital Partners, Dynamic Loop, and Blue Red Partners.
The company plans to use the money to keep growing its global presence and improve product features like artificial intelligence and optimization algorithms that improve mass transit for users while also boosting operational effectiveness and hastening the adoption of zero-emission vehicles.
Optibus, a company founded in 2014 by CEO Amos Haggiag, uses distributed cloud computing, advanced optimization techniques, and artificial intelligence to improve public transportation. Currently, the business plans and schedules the movement of cars and drivers for complicated transportation operations in more than 450 cities worldwide.
The Geospatial Suite, which Optibus is introducing, uses data-driven planning to enhance transportation networks and transit equity.
By visualizing critical geographic information during route planning, such as the bike paths that riders may use to get to or from public transportation or the shopping areas, schools, medical facilities, or job centers that passengers may want to visit, cities can make transportation networks more user-friendly. By making it simple to view demographic data that illustrates how route modifications may affect citizens’ access to public transportation, the suite also supports the promotion of transit equity. These features make it possible to make data-driven decisions that enhance the networks’ usability, dependability, and performance—factors that have an impact on millions of users.
Customers include the American organizations LADOT (Los Angeles), NICE (Nassau County, New York), and AVTA (Antelope Valley, California), as well as First Group and Stagecoach, two of the biggest bus companies in the UK.
Tel Aviv, New York, Chicago, Seattle, San Francisco, London, and So Paulo are among the cities where Optibus has offices.
