The company was last valued at $500M in March 2021. Here are the top-line bullets you need to know.
Optibus, a startup offering mass transit scheduling software, has raised $100M in a Series D. The round drew participation from Bessemer Venture Partners, Insight Partners, Tencent Holdings, and Verizon Ventures, among others.
HOW’S THE COMPANY PERFORMING?
- Israel-based Optibus helps transportation agencies and operators plan and schedule routes.
- Each year, it supports and tracks about 2.5B trips on buses, light rail, on-street trams, and subways.
- The company caters to customers across 1K+ cities, up 2x from a year ago.
- The startup is supported by a team of 300 employees, up from 120 a year ago.
Source: Optibus
WHY DOES THE MARKET MATTER?
- The global public transportation software market is expected to reach a value of $1.3B by 2027, growing at a CAGR of 5.95%, according to Verified Market Research.
- The rising public demand for more efficient public transportation is expected to drive the market’s growth.
- Increasing urbanization and the establishment of smart cities are also expected to fuel growth in this market.
