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October 18, 2011 05:00 pm GMT
Social mapping and navigation company Waze has raised $30 million in new funding from Horizons Ventures Hong Kong (the fund that manages the private venture investments of Facebook investor Li Ka-shing), and the Kleiner Perkins Caufield & Byers Digital Growth Fund and iFund. This brings Waze's total funding to over $55 million. John Malloy, Managing Partner of Blue Run Ventures and Jason Wong of Horizon Ventures will be joining the company's board. In addition, Kleiner Perkins partner Mary Meeker has also joined the team as a strategic advisor and board observer alongside Josh Silverman, President of American Express US Consumer division and former CEO of Skype.Founded in 2009, Waze offers free apps for the iPhone, Android, Windows Phone 7, BlackBerry and other mobile platforms, that include turn-by-turn navigation for drivers, and at the same time, uses that user data to build out its own maps. If there are issues on the road, such as major traffic jams, all of that information comes in through the apps and can be sent to other drivers.
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/HgRoJty5kk4/
Social Navigation And Traffic App Waze Raises $30M From Kleiner Perkins And Li Ka-shing
Social mapping and navigation company Waze has raised $30 million in new funding from Horizons Ventures Hong Kong (the fund that manages the private venture investments of Facebook investor Li Ka-shing), and the Kleiner Perkins Caufield & Byers Digital Growth Fund and iFund. This brings Waze's total funding to over $55 million. John Malloy, Managing Partner of Blue Run Ventures and Jason Wong of Horizon Ventures will be joining the company's board. In addition, Kleiner Perkins partner Mary Meeker has also joined the team as a strategic advisor and board observer alongside Josh Silverman, President of American Express US Consumer division and former CEO of Skype.Founded in 2009, Waze offers free apps for the iPhone, Android, Windows Phone 7, BlackBerry and other mobile platforms, that include turn-by-turn navigation for drivers, and at the same time, uses that user data to build out its own maps. If there are issues on the road, such as major traffic jams, all of that information comes in through the apps and can be sent to other drivers.Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/HgRoJty5kk4/
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