The Venture Codex

Participated · Equity · Nov 2016

FLASH provides cloud-born software and physical infrastructure that creates seamless customer experiences and connects operators, asset owners, and cities via a real-time marketplace for digital mobility. Its mobility operating system links parking, charging, transportation, and logistics with smart-city ecosystems and integrates with major automakers, mapping, navigation, and payment platforms. FLASH serves over 10,000 customer locations across the U.S. and Canada, processes more than 11 million parkers per month, and handles over $1 billion in annual transactions. Founded in 2011 and based in Austin, Texas, the company offers solutions including electric-vehicle charging, autonomous vehicle staging, and mobility-as-a-service. FLASH plans to expand its mobility OS and payments platform, extend digital services, and invest substantially in talent to support growth. FlashParking builds payment, monitoring and management software for parking-space providers, with its platform first launched in 2011. The company's software offers real-time data and variable pricing options and supports app-enabled parking and valet services. FlashParking positions its technology to extend to electric vehicle charging, vehicle servicing and cleaning, drone launch/landing and maintenance, and hubs for ride-hailing as part of a broader multi-modal transportation hub. CEO and co-founder Juan Rodriguez describes the platform as an operating system ready to support autonomous and robotic vehicle use cases. The company manages 30,000 parking spaces across 34 facilities in the Texas Medical Center and reports 6 million customers using its services each month. FlashParking says those customers generate around $1 billion in transaction revenue. Klever Logic provides a cloud-based parking platform—Flash Valet, FlashPARCS, and FlashMobile—that enables valet, gated, and mobile payments and lets operators manage revenue and operations from mobile, tablet, or desktop. Flash Valet originated as a cashless valet solution and led to the gated-parking product FlashPARCS after operator demand. The integrated platform delivers real-time data and a single system for operators while giving guests a mobile parking experience. In five years Klever Logic’s solutions run in over 800 venues domestically and internationally and process over 1.5M parked vehicles each month. The company plans to expand into property and hospitality management groups and into verticals such as Class A office buildings, hospitals, airports, and large event venues. Recent funding will support executive hires, scaling sales and marketing, streamlining operations, and a forthcoming brand evolution.

Participated · Series A · Sep 2012

Flash Valet provides cloud-based mobile management software that streamlines operations for valet and parking providers. Its platform lets providers track vehicles in real time, manage employee time and attendance (including payroll integration), accept curbside credit-card and mobile payments, and centralize communications and payments. The system offers real-time visibility from phones or any browser and aims to replace cash registers and paper tickets with mobile workflows. Flash Valet is available in over 50 locations across 13 cities in hotels, condos, restaurants and bars, hospitals, airports, arenas and shopping malls and expects to more than triple that footprint over the next two quarters. The company emphasizes limited upfront investment and a single-vendor solution to boost revenue and operational efficiency. Financially, Flash Valet has secured a $1.25 million Series A to support product development and market expansion.

Led · Equity · Jul 2011

iTaggit is the Austin, Texas–based parent company of PriceAdvice, a service that helps consumers determine prices for used products listed on eBay, Amazon and Craigslist. PriceAdvice was launched in 2006 to educate consumers and help them make informed online or offline purchase decisions by providing timely pricing information. The company has raised $300K in funding to support its operations. iTaggit plans to use the proceeds to expand its sales and marketing team, invest in marketing and business development initiatives, and support working capital needs. The company recently added Ira Williams as President and COO and named Hong Bui as lead technology advisor, who joined iTaggit’s board. The funding round was reported in July 2011. iTaggit provides an online environment for cataloguing, managing, and sharing collections of items with an emphasis on preserving user and data privacy. The product includes community resources where users can connect with friends, like-minded collectors, and experts. Recent upgrades to the service include an Add Item Wizard, a Flickr-like picture uploader, an Amazon import tool, and an Item Publisher. The site positions itself for hobbyists and collectors, a relatively small vertical. iTaggit generates revenue from affiliate advertising programs such as eBay. The company completed a Series A financing round in August 2006.

Participated · Equity · Feb 2011

Socialware builds technology and social networking compliance tools that enable highly regulated financial services firms to engage with clients and partners on social networks within a controlled framework. The platform also provides lead-generation and social sales tools for channels including Facebook, LinkedIn and Twitter. Socialware currently services nearly 100 customers, including five of the top U.S. insurance companies and other major financial brands. Named customers include American Portfolios, Cambridge Investment Research, Guardian Life, and New York Life. On the financial side, the company recently raised a $7 million Series C and has raised $12 million in total to date. Socialware provides technology and social networking compliance tools designed for the highly regulated financial services industry, enabling firms to engage with clients and partners on social networks within a controlled framework. The company says it currently services nearly 100 customers, including five of the top insurance companies in the United States and other major financial brands. Socialware recently raised $3 million in additional funding from its existing investors, bringing its total funding to $4.8 million. The additional capital came from its current roster of investors: FLOODGATE, G-51 Capital and Silverton Partners. Leadership is headed by Chad Bockius, who previously worked at Bazaarvoice and BetweenMarkets and transitioned from leading marketing and product strategy to CEO. The article does not specify product roadmaps or future plans.