Cloud-native AI platform, Optibus secured $107 million in Series C Funding Round

Optibus, an Israel-based cloud-native AI Platform for planning and operating mass transportation, has now secured $107 million in a Series C funding round.

Optibus is founded by Amos Haggiag in the year 2014. It uses a combination of AI, advanced optimization algorithms, and distributed cloud computing to make public transportation smarter.

The company powers complex transit operations in more than 450 cities around the world, planning and scheduling the movement of drivers and vehicles.

It has its offices in Seattle, Sao Paulo, London, San Francisco, Chicago, and Tel Aviv.

Alex Ferrara, Partner at Bessemer Venture Partners, said, "Effective public transportation is a critical part of a well-functioning society, and with the rise of new mobility options and electric vehicles, paired with the added challenge of the pandemic, city operators face more complexity than ever. Optibus stands out as a modern cloud-based solution that cuts through this complexity, allowing transit operators to plan routes and optimize schedules in minutes rather than days, promoting a more affordable and passenger-friendly experience. We are excited to partner with them as they build a global, world-class operating system for public transportation."

Optibus CEO and co-founder Amos Haggiag said, "The pandemic has made it more challenging for cities and transportation operators to provide safe and efficient public transportation, while also highlighting just how essential these services are. It's now of critical importance that we modernize the public transit industry not only for the industry's sake but for the communities around the world that seek transit equity, freedom of movement for all residents, and environmentally sustainable cities. This funding will help us do just that."

The latest funding round brings the total funding secured to $160 million since Optibus' inception. backed by the Bessemer Venture Partners, and Insight Partners with participation from the Verizon Ventures, Dynamic Loop, Pitango, New Era Capital Partners, and Blue Red Partners.

The company, as of now, has plans to use the new funds to continue expanding its global presence and enhance product capabilities such as optimization and AI algorithms that improve the mass transit for the passengers while also increasing operational efficiency, accelerating the deployment of zero-emission vehicles.