Waze Ltd, the social traffic and navigation community, has raised $30 million through an additional round of venture capital funding. Hong Kong–based Horizons Ventures, managing the private venture investments of Li Ka Shing in the technology sector, and Kleiner Perkins Caufield & Byers’ (KPCB) Digital Growth Fund and iFund provided the funding.
Waze will use the funding to support the application’s growing user base of more than seven million drivers and to launch its traffic-reporting platform in China. John Malloy, managing partner of Blue Run Ventures, and Jason Wong of Horizon Ventures have joined Waze’s board. The company has also appointed Mary Meeker, partner at KPCB, as a strategic adviser and board observer alongside Josh Silverman, president of American Express’ U.S. consumer division and former CEO of Skype.
Click here for the release from PR Newswire.