Mobile

Waze raises $30M for its crowdsourced driving app, hits 7M users

There’s no stopping Waze, the crowdsourced app that offers free GPS navigation. The company announced today that it has raised another $30 million in growth funding, led by Horizon Ventures and Kleiner Perkins Caufield & Byers.

Waze also confirmed that it has topped over 7 million users, thanks to its aggressive global expansion.

The news comes on the heels of Waze’s recently launched 3.0 version, which boasts a revamped design, search integration, and more. The company’s free app, which is available on iPhone, Android, BlackBerry, Windows Mobile and Symbian phones, offers free turn-by-turn directions. Waze’s claim to fame is the generous amount of live traffic data it has access to, which is powered completely by user contributions.

The company says it will use the additional funding to support its growing user base, as well as help bring its service to China. “Expanding to China, the world’s fastest growing automotive and smartphone market, is an obvious next move for us,” Waze CEO Noam Bordin said in a statement today.

Along with the funding, Waze is adding to its board John Malloy, managing partner at Blue Run Ventures, and Jason Wong from Horizon Ventures. Kleiner Perkins partner Mary Meeker is also joining as a strategic advisor and board observer, and she’s joined by Josh Silverman, former Skype CEO and currently president of American Express’s US consumer division.

Palo Alto, California-based Waze previously raised $25 million in funding last December.

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