Streetline provides smart parking technology and analytics to help cities, universities, and private operators manage parking more effectively. Its sensor platform includes sound level and road surface temperature sensing to support smart-city and smart-campus initiatives. The company has deployments in Germany, France, the U.K., and across many U.S. states, including California, New York, Massachusetts, and others. Streetline intends to use the $10M financing to expand product offerings for private parking operators, merchants, and consumers. The company is led by president and CEO Zia Yusuf. The financing round underscores demand for its data-driven parking solutions and supports continued geographic and product expansion. Streetline operates a smart-parking platform that uses sensors installed next to spaces to detect occupancy and delivers real-time data to consumer apps like Parker as well as products for city planners and parking operators. The company has shifted from a sensor-first focus to positioning itself as a data-and-apps company within the Internet of Things trend. Its service is live in 30 cities and universities and has launched internationally with deployments in Braunschweig, Germany and Birmingham, U.K. Streetline partners with larger vendors such as Cisco to deliver its data through municipal Wi-Fi networks. The company says its technology can enable dynamic, demand-based pricing and 'pays for itself' for cash-strapped cities. Financially, Streetline recently raised a $25M Series C and obtained a $25M credit facility from Citi, bringing total capital raised to $40M; the new funding will be used to support international growth and to package data for larger customers. Streetline’s core product is a patented smart-parking platform that detects vehicle presence via a network of ultra-low-power wireless sensors and surfaces that data through a cloud platform and the Parker consumer guidance app. The company offers real-time and historical parking analytics to cities and consumers and plans to enable broader adoption by offering its solutions on a pay-as-you-go basis. Streetline is privately held and headquartered in Foster City, Calif., with deployments across multiple U.S. jurisdictions including California, Indianapolis, Maryland, Michigan, New Jersey, New York, North Carolina, Texas, Virginia and Washington, D.C. The Parker app is available on iTunes and Android and is planned for in-car navigation integration. Streetline has been recognized by Fast Company and IBM and emphasizes using its technology to reduce congestion and emissions and improve city transportation planning. The company is leveraging partnerships to scale deployments and further product innovation. Streetline develops a patented smart parking platform that uses ultra-low power wireless sensors in individual parking spaces to detect vehicle presence. The company offers a real-time consumer parking app, Parker, which enables motorists to find and pay for available parking by location, time limit and price. Parker is available on the Android Market and the iTunes Store. Streetline has deployed its parking solution in California, Maryland, New York, Texas, Utah and Washington, D.C. The company sells a suite of sensor-enabled mobile and web tools for smart city and smart parking use cases. It intends to use newly raised funds to expand its solutions in the U.S. and abroad and to invest in people, infrastructure and systems.

Total raised

$75M

Funding rounds

4

Latest round

Equity

Latest activity

Jul 2014