Citymapper takes in USD10 million Series A funding round
Citymapper is a map application has gained local fame after being downloaded by users to guide them to easily locate public transportation while in big cities. The company has not only gained popularity but also a Series A funding round led by Balderton Capital. The new investment was valued USD10 million, said a report from Gigaom. The funding round was also joined by Connect Ventures, Greylock Partners and Index Ventures.
The company was first launched as Busmapper two years ago in London. However, it has looked on to other means of public transportation including ferries, subway lines and taxi cabs. The startup expressed its interest in helping city commuters without personal vehicles to find the easiest way to ride a public transportation. The app features “Get me home” and “Get me to work” buttons on both iPhone and Android phones. This design was intended to help commuters easily get home or get to work on daily basis, reported Gigaom.
According to data estimated by Citymapper, about of iPhone users in London have downloaded the app. Citymapper has also been gaining popularity in New York, Berlin and Paris. The startup said that the money it has raised would be used for corporate affairs including a planned expansion, said Gigaom.