|[January 23, 2013]
ParkMe Announces New Funding from Angeleno Group and Existing Investors
LOS ANGELES --(Business Wire)--
ParkMe, the world's most comprehensive database and analytics software
solution for on-street and off-street parking locations and
availability, today announced a new investment by Angeleno Group, a Los
Angeles-based private equity firm focused on high growth energy and
natural resources companies, and existing investors, Fontinalis Partners
and IDG Ventures. In addition, Daniel Weiss, Managing Partner &
co-founder of Angeleno Group, has joined the ParkMe board of directors.
As the leading provider of dynamic and real-time parking data, analytics
and services, ParkMe will utilize the new funds to expand its
international footprint and continue to grow its existing U.S. presence.
Currently, ParkMe provides parking data and availability in 500 cities
across the U.S. and Europe. Most recently, ParkMe released its real-time
on-street parking solution for drivers in Los Angeles and Santa Monica
after initially launching in Austin last year. The company plans to use
the new funds to build its technology team and to foster additional
business development and marketing initiatives.
"With an average of 30% of traffic in urban areas caused by drivers
searching for parking, congestion poses an ever-growing frustration to
millions of motorists and creates substantial economic and environmental
costs," said Daniel Weiss, Managing Partner of Angeleno Group. "We are
excited by ParkMe's unique, data-centric, analytical approach to parking
guidance and optimization and look forward to working with the ParkMe
team to bring their solution to drivers around the world."
"The backing of high caliber investors like Angeleno Group, Fontinalis
and IDG speaks directly to the magnitude of the opportunity that we are
trying to address," said Sam Friedman, CEO and Co-Founder of ParkMe.
"or years, drivers have lacked a technology solution to make finding
and paying for parking a more seamless endeavor. Through its vast
partner network of parking owners and operators as well as cities,
ParkMe is empowering drivers with connectivity and real-time parking
information that they've been without for far too long."
ParkMe delivers accurate, real-time parking guidance to drivers through
mobile and digital devices including smartphones and in-car navigation
systems, bringing the parking industry online for drivers and parking
owners through a novel real-time marketplace. The company's proprietary
software analytics platform utilizes existing infrastructure to provide
drivers with real-time parking availability, without the need for
additional hardware or equipment.
Based in Santa Monica, Calif., ParkMe is the leading provider of parking
information to navigation companies and smartphones. Founded by Sam
Friedman and Alex Israel, ParkMe's mission is to make parking easier.
ParkMe collects and aggregates data about both on-street and off-street
parking and has built the world's most comprehensive parking database
and analytics software. This includes more than 25,000 worldwide
locations in more than 500 cities serving an estimated population of 235
million drivers in 19 countries and three continents. ParkMe's free app,
ParkMe, helps drivers find parking in real time from their smartphones
or in-car navigation systems. Recently ParkMe launched its real time on
street solution for parking
in Los Angeles and parking
in Santa Monica. For more information, visit www.parkme.com.
ParkMe can be found on Twitter (News - Alert) @TheParkMeApp, and on Facebook at http://www.facebook.com/theparkmeapp.
ABOUT ANGELENO GROUP
Founded in 2001, Angeleno Group is a pioneer in providing growth capital
for next generation clean energy and natural resources companies. The
firm invests opportunistically in a range of deal types, with a strategy
that is sector-focused, stage-agnostic and research-driven. Since its
founding, Angeleno Group has become one of the largest dedicated energy
growth equity investment firms, making investments on a global basis
with investment professionals operating in the U.S., Asia and Australia.
For more information, please visit www.angelenogroup.com.
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