Report: Moovit Raises $50M At Company Value Of $300-450M

December 25, 2014 | The Israeli navigation and real-time update application for public transportation, Moovit announced the closure of a $50 million funding round, according to a report by TheMarker. A number of international investment bodies participated in the round, though their names remain undisclosed, as well as existing investors Sequoia Ventures as well as the Israeli venture capital firms Gemini and BRM. According to most estimates, the company’s value when the funding round was completed stood at between $300-450 million, with Moovit raising $81.5 million since it was founded in 2011. The application has more than 12 million users in over 400 cities around the world, including more than 1 million Israeli users. Moovit was founded by Nir Erez, Roy Bick and Yaron Evron.