Mobility tech firm Optibus valued at $1.3bn after raising $100m By Reuters May 16, 2022 Creative Commons Optibus develop software to prepare transit systems for smart cities US-Israeli mobility technology company Optibus has raised $100 million in a private funding round that values the company at $1.3 billion. The funding came from new and existing investors including Insight Partners, Bessemer Venture Partners, Verizon Ventures, Pitango First & Pitango Growth, Tencent, SOMV Momentum, and others, said Optibus, which has raised $260 million to date. Optibus develops software to modernize mass transit systems and get them ready for smart city integration. It said it would use the funding to advance its software platform for all public transportation planning and operations needs, 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. The company said its technology is being used by transportation agencies and operators in 1,000 cities to increase efficiency and service quality, promote transportation equity, reduce emissions and costs, and modernize their operations.