Funding accompanies the launch of Ridership Insights, which aims to help planners redesign transport systems to increase ridership and ‘build back better’
Optibus, which provides an end-to-end software platform for public transport planning and operations, has announced that it has secured a further $100 million in ‘Series D’ funding, with investments from a number of new investment partners. The latest round of financing brings Optibus’ total funding to $260 million and its valuation to $1.3 billion, making it the first unicorn (a term used to describe a privately owned company valued at over $1 billion) dedicated to the public transport sector.
Optibus has recently launched its Ridership Insights software and says it will use the funding to advance its vision of a holistic software platform for all public transport planning and operations needs, to expand into new product and service offerings including real-time operations and electric vehicle management, and strengthen its global presence in existing and new markets.
Since its founding in 2014, Optibus has helped over a thousand cities tackle industry challenges around the digital transformation of the sector. With the launch of Ridership Insights, the company is seeking to enable the visualisation and analysis of ridership data directly on a map during the network planning phase, which it says will give planners a deeper insight into how a city moves. Planners can view their ridership performance indicators on a route, segment, or stop level, with boarding and alighting data for each stop, or filter by time and date range. “Optibus combines innovation and public transportation expertise like no one else in the industry. Their software is revolutionising our business and day-to-day operations, as well as the passenger experience. Optibus is the future of public transportation and we celebrate this fantastic milestone with them,” said Carla Stockton-Jones, UK Managing Director at Stagecoach.
“Optibus is proud to be the first unicorn dedicated to public transportation, which is at the core of a healthy and equitable society. By putting powerful technology in the hands of industry professionals, Optibus helps to increase transport equity and ridership while reducing emissions and costs. Our investors and employees see the double promise of Optibus to generate both social good and return on investment, and we are thrilled to lead the industry’s digital transformation,” said Optibus CEO and co-founder Amos Haggiag.
“Optibus has modernised the industry and helped cities around the world bring quality and reliable transportation to their residents. As long-time investors in the company, we’re excited to continue our partnership with Amos and the team,” said Teddie Wardi, Managing Director at Insight Partners. “We look forward to working with Optibus as they continue to grow and scale up.”