Moovit

Company Overview

Snapshot

Founded in August 2011 by Nir Erez and Roy Bick, Moovit operates with 201–500 employees. The company raised $131.5 million across 4 funding rounds from 13 investors before being acquired by Intel in May 2020.

Business overview

Moovit provides a real-time application for smart public transit, integrating data from public transit operators and its user community to offer travelers real-time information and optimal route planning. The company leverages up to 5 billion anonymous data points daily, supported by a network of over 625,000 local editors, to map and maintain transit information globally. Moovit introduced a suite of AI-powered Mobility as a Service (MaaS) solutions in 2017, aimed at reducing congestion, increasing ridership, and improving efficiency. Serving consumers, commuters, and municipalities, Moovit operates within the Automotive & Mobility Technologies sector, focusing on urban mobility and eco-efficient mobility optimization.

Strategic signal

In June 2024, Moovit announced a layoff of 10% of its workforce. This signals a strategic adjustment within the company, potentially indicating a shift in operational focus or a response to market conditions following its acquisition by Intel.

Company Intelligence Q&A

When was Moovit acquired?

Moovit was acquired by Intel in May 2020.

What was Moovit's last disclosed funding round?

Moovit's last disclosed funding round was in February 2018, raising $50 million. Investors included Gemini and Sound Ventures.

What significant operational change occurred in June 2024?

In June 2024, Moovit initiated a layoff impacting 10% of its workforce.

Which companies have partnered with Moovit?

Moovit has partnered with various companies, including Uber, Waze, Circ, Bird, Lime, Microsoft, and SpotHero, to integrate its urban mobility solutions and enhance its service offerings.

What product updates has Moovit released recently?

In November 2022, Moovit enabled users to track transit vehicles on a map in real-time within its application.