Parkifi real-time parking spot finder platform secures $2M in first round

By: InnovatioNews Wednesday May 6, 2015 Tags: Denver, Parkifi, Ryan Sullivan, Rishi Malik, Boomtown, SendGrid, Galvanize Ventures, Foundry Group Angels, Access Ventures

DENVER -- Parkifi, a real-time parking spot occupancy platform, announced it has secured $2 million to fund growth in target markets and develop its Denver-based team.

The company’s first round of venture capital includes strategic investments from Galvanize Ventures, Foundry Group Angels and Access Ventures.

Parkifi is an innovation in parking technology that works by placing small sensors in each city or managed parking spot while providing real-time occupancy, usage and analytical data tailored for both property and parking management.

The company’s proprietary software and technology aims to help cities and parking lot management companies optimize pricing and streamline parking enforcement.

Parkifi was founded in 2014 by Ryan Sullivan and Rishi Malik, former SendGrid employees. They founded the company after graduating from Boulder’s Boomtown accelerator and have gained the largest round of investment of the nine graduate companies to date.

“The idea behind Parkifi is simply to make parking less of a hassle and to do that at a reasonable cost to operators,” said Sullivan, the company’s CEO.

“Drivers can find spots quicker and parking operators can optimize revenue by understanding how their lots are being used.”

About the Author: InnovatioNews

InnovatioNews is an online news magazine spotlighting innovative companies, products and people in Colorado. Launched in June of 2012, the site is the recipient of multiple awards.