Tuesday, October 18, 2011

Waze Collects $30M For Crowdsourced Traffic Info

Palo Alto-based Waze, which operates a crowdsourced, traffic and navigation service, said today that it has raised $30M in new funding. The round came from Horizons Ventures Hong Kong and Li Ka Shing, Kleiner Perkins Caufield & Byers Digital Growth Fund and iFund. The firm said the funding will go to support the launch of its platform in China. As part of the funding, the company said it has added John Malloy of Blue Run Ventures and Jason Wong of Horizon Ventures to its board, with KPCB's Mark Meeker serving as an observer. More information »