Thursday, January 10, 2013
Competition Gets Fierce For ParkMe, As Streetline Finds Funding
It looks like competition is heating up in the smart parking market--and for local parking technology firm Parkme, which is based in Santa Monica--as yet another company announced Thursday more funding for giving consumers real-time information about available parking spaces. Competitor Streetline, which is based in the Bay Area, just announced a big, $25M Series C funding from True Ventures, Citi, and Qualcomm, which will go towards its "smart parking" products and applications. The funding comes only a month after another, ParkMe competitor--ParkWhiz, based in Chicago, announced $2M in a Series A funding. All three companies are involved in some part of using smartphones to let users know about open parking spaces, both on city streets and at parking facilities. ParkMe recently inked a big deal with INRIX to provide its information through traffic data services; and the firm has been offering its real time parking in LA, Santa Monica, and other markets since last year.