Parkifi Locks In Another $2 Million In Funding To Fuel Growth In Parking Innovation

DENVER, Oct. 20, 2015 /PRNewswire/ -- Parkifi, a real-time parking spot occupancy platform, added another $2 million investment to the funding received since launch in late 2014. This latest raise includes strategic investments from Indiana-based Simon Property Group, Texas real estate developer Howard Hughes Corporation and Camber Creek.

"The funds received from these recent strategic investments will help us continue to grow and deploy to more customers. Early customer interest was far greater than we expected," said Ryan Sullivan, CEO and Co-Founder of Parkifi. "We're pleased to announce that we've raised the additional funding necessary to continue to meet those demands."

Parkifi, launched in 2014, provides real-time occupancy and analytical data tailored for parking and property management. The innovative sensor technology provides spot-by-spot data and turnover data, violation alerts, dynamic pricing notifications, occupancy averages and pricing optimization trends that inform parking managers of key data that can be immediately used to run businesses and cities more efficiently. Meanwhile, the benefit to consumers is the ability to find available parking spots via various third party smartphone apps.  Sensors are currently installed in garages and surface lots in the cities of Denver and Boulder, CO as well as Orange County, CA, and Knoxville, TN. The combined portfolios of Parkifi's customers totals more than 10% percent of the commercial parking spots in the U.S.

"We canvassed the parking tech landscape to find the most cost effective and robust-data analytics platform to provide shoppers spot-by-spot parking availability. We're excited to be an investor, our deep due diligence in the space led us to Parkifi," said J. Skyler Fernandes, Managing Director at Simon Venture Group.

"Parkifi has proven that technology is changing the efficiency of parking for operators and consumers, whether that is a small lot operator, a national parking operator, or the average driver," stated Casey Berman, Managing Director of Camber Creek. "In addition, the price point of their offering opens the market to companies that could never consider technology in the past."

Initial investment funds were used to on-board new hires and corporate development. Earlier this year, the Company leased 10,000 square feet in downtown Denver and has quickly grown to include a staff of 21 people.

About Parkifi

Parkifi, a real-time parking spot occupancy platform, provides real-time occupancy and analytical data tailored for parking and property management. Parkifi installs sensors in individual parking spaces to monitor occupancy and parking time. Parkifi's sensor technology provides spot-by-spot data and average parking times, spot occupancy, pricing optimization trends and outcomes, violation and weather alerts, and more. For more information visit www.parkifi.com

SOURCE Parkifi

Related Links

http://www.parkifi.com