Citymapper – London-based urban transport startup has just raised $40M in series B funding. The company uses public data from transport authorities to give users the fastest or cheapest way to get somewhere, with the option of public transport routes, cycling and Uber journeys.
In the first funding round that happened in April 2014 Citymapper raised $10M with just 4 cities available (London, Paris, New York and Berlin). This money has been used to add 25 new cities and improve the app. With the Series B funding the company is going to hire new team members “in every significant metro city in world”. It means that we expect multiple new cities to be added within the next couple of months.
Citymapper, founded by Pakistani-born entrepreneur Azmat Yusuf, has no significant revenue but could be a potential acquisition target for one of big tech players like Apple which is still struggling to introduce new cities to Maps app. The value it brings is not only about public transit data and multimodal routing algorithms, it is also about an innovation. In September 2015 Citymapper has added a new functionality called Train Car Exits, which show users where to sit on the train so you can be in the best possible spot to exit or transfer when you reach your stop. All these features build Citymapper value which is estimated by Sky News to be somewhere close to $350M.
If you’re searching for a job Citymapper is already hiring.