Moovit closes $28 million funding round to boost public transportation data

Boosting public transportation data

Gigaom

Moovit, the public transportation app that uses Waze-like crowdsourced data to give users accurate readings on their morning commute, has closed a $28 million funding round, led by Sequoia Capital, to make better use of the data it has collected on public transportation systems across more than 100 cities.

Moovit_New“If you think about what we’re doing today, we’re generating a huge amount of crowd data, up to half a billion reports per month,” Nir Erez, Co-founder and CEO of Moovit, told Gigaom. “This data is only partially used, and we want to provide as much comprehensive data as we can.”

The round also received participation from existing investors BRM Group and Gemini Israel Ventures. Erez says that Moovit, available for both iPhone(s aapl) and Android(s goog), currently has 3 million users, and has gained significant traction in both Latin America (Brazil, in particular) and Europe. Moovit’s core goal is…

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