Moovit App Global Ltd.

Moovit App Global Ltd. is a provider of urban mobility solutions, specializing in a comprehensive app that facilitates public transit navigation across the globe with real-time data and route planning capabilities. Founded in 2012 by Roy Bick and Yaron Evron, Moovit App Global Ltd. operates from its headquarters in Tel Aviv-Yafo, Israel.

The company focuses on developing a mobility app that enhances public transportation experiences. In May 2020, Moovit was acquired by Intel Corporation for USD 900 mn, marking a significant transition in its operational strategy. Moovit has successfully completed seven funding deals, the most recent being an Add-on round led by Intel Corporation, raising a total of USD 50. 00 mn.

Moovit provides an urban mobility app designed to streamline public transit navigation across over 112 countries, delivering users real-time information, detailed schedules, maps, and step-by-step directions for various transportation modes including buses, trains, trams, and subways. The app serves daily commuters, tourists, and urban residents seeking reliable transit solutions, and has established a presence in major markets such as the United States, Canada, Europe, Asia, and Latin America. Moovit generates revenue through a multi-faceted business model that includes B2B partnerships and direct-to-consumer sales. Its primary revenue streams are subscription services for municipalities and transit agencies, integrating Moovit’s technology into their frameworks, alongside collaborations with local transportation authorities that enhance public transit offerings.

This model supports Moovit’s flagship mobility app utilized by millions worldwide, fostering growth and user engagement through strategic partnerships. Following its acquisition by Intel Corporation in May 2020, Moovit plans to leverage this funding to expand its product offerings and market reach. The company aims to enhance its app's functionalities and incorporate new urban mobility solutions. Additionally, it seeks to penetrate new markets across Europe and Asia by late 2023, further solidifying its presence in the global mobility sector.

Recent funding will be utilized to support these initiatives and enhance user experience through technological advancements.