Published: July 02, 2014 | United States
Streetline says it has closed $10 million in financing to further extend its lead in the rapidly growing smart parking market. With more than 250 million parking events managed to date, Streetline continues to grow its footprint in the U.S., Canada, and Europe, and intends to use the funds to build on this momentum and further deepen its product offerings, particularly for private parking operators, merchants, and consumers.
Now, the customers are demanding integrated smart parking solutions that bring together all of the various pieces of the puzzle – from sensing to inference to analytics to applications for specific stakeholders. Streetline aims to further strengthen its integrated platform, and expand the solutions for both parking providers, as well as merchants and consumers.
Streetline also announced the appointment of Abe Yokell to the company’s Board of Directors. Yokell is a partner with RockPort Capital Partners.
Internet of Things: a $15 Trillion Opportunity
Parking is a $25 billion industry in the United States alone, and the opportunity to tap IoT to rethink the whole parking experience has accelerated dramatically. As the global focus on the IoT and smart parking, in particular, gains traction, the industry is shifting from point solutions to an integrated platform that brings together all aspects of the parking ecosystem.
Streetline continues to lead the industry in the use of technology to reinvent the parking experience. Some key milestones announced over the last six months include:
VIDEO DETECTION: Streetline announced a collaboration with Cisco, as part of the networking giant’s Smart+Connected Communities program, to introduce the first camera-based smart parking and integrated network solution
REAL-TIME PARKING DATA API: Real-Time Information Directly From Parking Spots: Introducing ParkerData™ Availability API
CLOUD-BASED ANALYTICS: Streetline Unveils Next Generation Cloud-Based Parking Data and Analytics Platform, ParkSightTM 2.0
CAMPUS SOLUTIONS: Streetline Collaborates with Case Parking to Transform Parking on the University Campus
CONSUMER GUIDANCE: ParkeTM by Streetline for iOS 4.3.1: Another Reason to #ParkHappy
“Streetline is harnessing the power of the ‘Internet of Things’ to tackle one of the great unsolved urban problems: parking. With more deployments than any other provider in this space, we’ve moved beyond smart parking as a concept to smart parking as a reality,“- Manny Krakaris, Chief Financial Officer, Streetline.
The video explores the development of innovative solutions like Streetline’s Parker application.