Israeli startup Optibus, a developer of an end-to-end software platform for public transportation planning and operations, has raised $100 million in Series D fundraising at a valuation of $1.3 billion.
Optibase has raised $260 million to date, making it the first unicorn in the public transportation industry.
Insight Partners, Bessemer Venture Partners, Verizon Ventures, Pitango First & Pitango Growth, Tencent, SOMV Momentum, and other investors contributed to Series D.
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Since receiving $107 million in Series C funding in March of 2021, Optibus’s valuation has quadrupled. Additionally, the Israeli company continues to negotiate with additional investors on the extension of the financing.
Founded in 2014 by CEO Amos Haggiag, Eitan Yanovsky, and Gady Shlasky, Optibus employs 200 people going soon to 300.
The platform is already active in over one thousand cities and earns tens of millions of dollars in annual income, which has increased in the previous two years. Clients of Optibus pay a yearly subscription fee for the software, the cost of which is based on the number of cars they manage. Contracts are often signed for terms between three and five years.
The company Ridership Insights enables the viewing and analysis of ridership data directly on the map during the network planning process, providing planners with a greater understanding of how the city functions.
The company currently has $200 million in financial reserves to buy firms. The company is now engaged in some talks.
Optibus will also use the funding to advance its vision of a comprehensive software platform for all public transportation planning and operations needs. It will expand its product and service offerings to include real-time operations and electric vehicle management and strengthen its global presence in existing and new markets.
