Paid parking is a huge industry in the United States and many start-ups are keen on getting a slice of the pie with new companies, offering various parking solutions, cropping up to help people easily park their vehicles through technology.
Investors are also keen on the technology with new companies receiving millions of dollars from venture capitalists to kick start their business plans and get their apps in the hands of people while also helping parking providers to manage the huge demand for space witnessed across the country.
Statistics have shown that almost 30% of urban traffic congestion takes place due to people looking for a space to park their vehicles. Streetline seeks to end that with its parking mobile application Parker. The California based company works with cities across the United States to embed sensors in parking spaces and has recently received $ 25 million in investment from Qualcomm Ventures and True Ventures.
This comes on top of the $ 15 million Streetline received a year ago to launch its parking application showcasing the huge interest investors are showing in the industry.
Using Streetline’s wireless sensor deployments across cities in the United States, Parker helps its users to find a parking space using real time data. The app also notifies the user if a space to park is available nearby.
If you don’t wish to depend on luck to find a spot then Parker also allows the user to pay for the spot in advance.
This is a great application and will help end parking problems for its users completely thanks to its easy to use interface. No wonder investors are so keen on the idea and pumping in big money for the project.
The app is available for download at both Apple’s App Store and the Android Market.
Source: all things D
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