Moovit, the public transportation app that uses Waze-like crowdsourced data to give users accurate readings on their morning commute, has closed a $28 million funding round, led by Sequoia Capital, to make better use of the data it has collected on public transportation systems across more than 100 cities.

"If you think about what we’re doing today, we’re generating a huge amount of crowd data, up to half a billion reports per month," Nir Erez, Co-founder and CEO of Moovit, told Gigaom.