Thursday, December 9, 2010

Waze Gets $25M

Palo Alto-based Waze, a provider of crowdsourced traffic and map data, said this week that it has raised $25M in a new round of funding. The round was led by existing investors Blue Run Ventures, Magma, and Vertex, and included new strategic investor Qualcomm Ventures. Waze said it will use the funding for extensive hiring, and to relocate to a larger office in Silicon Valley. Waze says is now has over 2.2 million drivers using its applications. More information »