Parkifi raises $9.5M in Series A

What does Parkifi do?

Parkifi, is a live occupancy data for parking management companies. The company makes parking less of a hassle with its real time parking occupancy platform. it uses its sensor technology for providing real time data to parking lot operators, mobile applications and cities and lets them know where there are open and available parking spots. With this drivers can find parking spots faster and parking operators can optimize revenue by understanding their current inventory. Drivers who search for an open parking spot waste 50,000 gallons of fuel every month and 30% of city traffic. This company fixes this problem.

How much Parkifi was funded?

Parkifi raised$7.5M in Series A on February 25, 2016 from Grotech Ventures and Crosslink Capital.

Previous funding

• $1.38M on March 20, 2015 from Galvanize Ventures, Matt Robinson, Marc Bell Ventures, Center Electric and Boomtown Accelerator.
• $2M on June 10, 2015 from Camber Creek, Simon Property Group and Howard Hughes

What is next for Parkifi?

The company plans to use the proceeds from its latest round of funding for increasing staff, continuing to grow its business nationally, and deploying additional parking solutions at shopping malls, parking facilities, office building and many more.

More about Parkifi

Parkifi was founded in 2014 by Rishi Malik and Ryan Sullivan. It has its headquarters in Denver, CO. The company is more than just a parking sensor company. It is changing how the cities operate. With this company’s parking sensors and partner mobile apps, it can lower the city traffic and the parking hassles by directing the drivers  to a parking space, all via their smart phones. The company provides real time occupancy data which is tailored for property management and parking. This company’s dashboard provides an on demand, real time, robust data operators necessary for solving the parking challenges which make the cities insufficient.