Million Dollar Route -- Traffic Monitoring iPhone App Waze Raises $25 Million
Waze is a driving app that uses user-generated traffic reports to get you from point A to point B fast. And with a sizable $25 million in B round funding from Blue Run Ventures, Waze looks ready to do just that for some time.
Tel Aviv-based Waze, makers of an innovative real-time traffic mobile app, has announced $25 million in second-round funding led by Blue Run Ventures, with Magma Venture Partners, Vertex Venture Capital, and Qualcomm Ventures also part of the eight-figure investment.
The company has said that part of the funds will be used to relocate Waze’s operations to Palo Alto. Waze told VentureBeat that monies from the sizable B round will also be aimed at “expand[ing] corporate and marketing initiatives”.
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