Wednesday, September 28, 2011
Parking In Motion Raises Funding
Santa Monica-based Parking In Motion, a developer of systems to help drivers find open parking space, said this morning that it has raised a Series A round of funding. Size of the funding round was not disclosed. The round was co-led by IDG Ventures and Fontinalis Partners. Parking In Motion is led by Sam Friedman. The company says it has a database of more than 25,000 parking locations in over 500 cities, and is tapping into smart parking meters, sensors, and parking gates to locate parking space for users. Fontinalis Partners is the venture funding group of William Clay Ford, Jr., the great grandson of Henry Ford.