Munich, Germany, October 14th 2020 - Cleverciti, the German and US scale-up that is leading the smart parking revolution, announced today it has raised $5.6 million USD in an A+ funding round. All existing institutional investors participated in the round led by SPDG Ventures, including The Westly Group, EnBW New Ventures (ENV) and KfW. The investment brings Cleverciti’s total funding since 2015 to $28.3 million and will help the company expand its sales and marketing activities as well as accelerate deployment of its parking Solution as a Service (SaaS).
Cleverciti’s smart parking solutions help cities and organizations reduce traffic and emissions and increase parking and shopping revenue while allowing drivers to enjoy a smooth, stress-free arrival experience. Cleverciti has been deployed in a wide variety of use cases across the globe – at over 200 locations in over 20 countries. One of Cleverciti’s latest large-scale installations is the comprehensive on-street parking guidance in Cologne that launched in June 2020. Drivers are now guided turn-by-turn to an available on-street parking space with Cleverciti’s innovative digital signs on each street corner and a mobile app.
Since pioneering its edge-computing, AI-based IoT sensors, 360-degree guidance solutions, and vehicle location cards, Cleverciti has solidified its place as the technology leader in smart parking solutions and services. The sensors and digital signs are typically mounted on lampposts and up to 100 spaces can be monitored by a single sensor. Vehicle location cards identify the precise location of a vehicle in a parking area and automate payment and permits. With deployments in smart cities, park & rides, shopping malls, hospitals and corporate campuses, Cleverciti is defining the future of smart parking with innovative technologies.
Olivier Périer, Chairman of the Board and Lead Investor, notes: “We are proud to have all of Cleverciti’s investors around the table in the middle of a worldwide crisis. It reflects the unique position Cleverciti is in: well-funded, leading the reduction of traffic and emissions in our cities, and allowing parking operators to manage their assets in a holistic way”.
“We evaluated smart parking solutions from all over the world before investing in Cleverciti. We believe Cleverciti has developed the world’s best solution for smart, efficient parking and guidance, that will help cities reimagine how they can reduce congestion in downtown and retail areas.” said Steve Westly, Managing Partner of the Westly Group.
Thomas Hohenacker, CEO and David Parker, COO, are thrilled to be partnered with this esteemed group of investors to transform the parking experience: “We must reduce CO2 emissions, make our cities smarter and more livable and reduce wasted time and energy. Cleverciti makes an immediate impact in each of these areas, by allowing drivers to use our smart parking data and turn-by-turn guidance systems to park quickly and seamlessly.”
The international Cleverciti team consists of some of the brightest and most experienced experts from the fields of IOT, AI, and parking. Cleverciti’s headquarters are in Munich, Germany and Atlanta, US and their global sales and customer support organizations are designed to meet customer needs around the world.
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