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Last week, ParkMe announced a round of funding they’re calling a Series A.5 since the investment was driven by interest rather than need. The Angeleno Group invested in ParkMe for an undisclosed sum in the mid-seven figure range.
ParkMe also recently debuted the latest version of their mobile app, which gives drivers the ability to locate lost cars and includes a meter-expiry timer.
We caught up with ParkMe’s Director of Communications, Kevin Blomberg, to learn more about the company.
In your own words, what does ParkMe do?
ParkMe is the leading provider of real-time parking information to smartphones and autos. We've collected data in every city across North America (some in Europe/Australia/New Zealand) and have a free iPhone app that's a crucial tool for drivers. We are shifting the paradigm of navigation by accounting for the important element of parking.
Why do you think your service is necessary?
Because parking is a daily frustration shared by motorists across the country. We've found to between 30 and 50 percent of urban congestion is due to people circling the block looking for spaces. Intelligent parking information can help reduce traffic and added pollution, and that becomes a larger issue of city management.
How will you use this funding?
As with most startups, a lot of resources go to developer engineering and we'll continue to make sure we have the slickest, fastest running navigation app out there. Additionally, a lot of new funding will be allocated to city-by-city marketing and customer acquisition.
Why are you based in L.A.?
Because our public transit is so inefficient, people in Los Angeles rely on their cars more heavily than most other cities. Parking is an action that EVERYONE must encounter, so it makes sense for us to be here. And we were born here, so it's home for us.
Looking ahead, what are your goals for the rest of 2013?
We're really looking forward to expanding our database and get more cities on board with real-time parking. And giving the driver (consumer) the best possible service is our number one goal for 2013.
Visit ParkMe's website, check out their BILA profile, and follow them on Twitter at @TheParkMeApp.
