Parkifi Raises $2 Million to Fuel Growth and Innovation

DENVER, May 4, 2015 /PRNewswire/ -- Parkifi, a real-time parking spot occupancy platform, today announced financial backing of $2 million to fund growth in target markets and development of the Denver based team. The first round of venture capital includes strategic investments from Colorado based Galvanize Ventures, Foundry Group Angels and Access Ventures among others.

Parkifi is an innovation in parking technology and works by placing small sensors in each city or managed parking spot while providing real-time occupancy, usage and analytical data tailored for both property and parking management. The proprietary software and technology places the greatest value on providing the analytical data to cities or parking lot management companies and endeavors to help them optimize pricing and streamline parking enforcement. Drivers will be able to view real-time parking availability in designated cities or lots with a visual aid when entering a lot or by use of a mobile app.

Former SendGrid employees, Ryan Sullivan and Rishi Malik, founded Parkifi in 2014. The entrepreneurs and engineers launched Parkifi following the graduation of the Boomtown start-up accelerator and out of the nine companies launched, have gained the largest round of investment capital to date.

"The idea behind Parkifi is simply to make parking less of a hassle, and to do that at a reasonable cost to operators" said Ryan Sullivan, CEO and Co-Founder of Parkifi. "Drivers can find spots quicker and parking operators can optimize revenue by understanding how their lots are being used."

Initially, Parkifi will roll out services with a parking management company in Denver that represents 7,000 parking spots as well as the City of Boulder, Colorado and a Pittsburgh based parking management firm.

Parkifi's founders will be in attendance at the Collision Conference in Las Vegas, NV on May 5-6, 2015. Collision Conference is a meeting place for people who are both building the companies of tomorrow and managing the companies of today. Visit the Parkifi team at booth #B145

About Parkifi

Parkifi provides real-time occupancy and analytical data tailored for parking and property management. Parkifi's sensor technology provides spot-by-spot data and average parking times, spot occupancy, pricing optimization trends and outcomes. For more information, visit www.parkifi.com

Media Contact: Tia Mattson
Tel: 303.868.3131
Email: [email protected]

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SOURCE Parkifi

Related Links

http://www.parkifi.com