Home / Internet Of Things / FlashParking Secures $60 Million from L Catterton’s Expansion Fund

FlashParking Secures $60 Million from L Catterton’s Expansion Fund

FlashParking, the chief in parking expertise, as of late introduced that it has won a $60 million strategic funding from the Expansion Fund of L Catterton, the most important and maximum international consumer-focused non-public fairness company. The funding shall be used to scale FlashParking’s industry-leading extensible, cloud-based parking system that allows 21st-century parking and the evolution of remoted parking property into connected mobility hubs

Introduced in 2011 because the ’s first cloud-born parking expertise, FlashParking is perfecting the parking enjoy with real-time knowledge visibility and actionable intelligence, together with provide knowledge and dynamic pricing, to diversify earnings and ship a frictionless enjoy. Nowadays, FlashParking’s mobility hub working machine is the connective layer that transforms parking property into multi-purpose mobility hubs the place parking, transportation, mobility, and logistics intersect inside of a wise town surroundings. FlashParking’s working machine empowers genuine property house owners, parking operators, and towns to take on complicated mobility problems comparable to congestion, loss of visibility into provide and insist, and fragmented user stories.

“FlashParking is a best-in-class parking answers supplier with confirmed expertise and an industry-first cloud-based device answer,” mentioned Michael Farello, Managing Spouse, L Catterton Expansion Fund. “We’re happy to spouse with the FlashParking management crew to boost up the Corporate’s expansion and facilitate the supply of mobility products and services to shoppers and companies.” 

The mobility is going through a paradigm shift this is transferring the dialog towards programs that may improve as of late’s and day after today’s mobility products and services moderately than standard “to” and “from” mobility applied sciences. To get forward of this evolution, within the coming months FlashParking intends to announce new partnerships with transportation, logistics, and mobility firms which are leveraging its platform. 

“During the last 9 years, we’ve got constructed the FlashParking platform with high quality and flexibility in thoughts via making it cloud-based, mobile-first, and future-ready. This distinctive platform has allowed us to configure an working machine that’s now not handiest the most efficient answer for parking infrastructure as of late but in addition a fashion that’s waiting for day after today,” mentioned Juan Rodriguez, co-founder of FlashParking. “With this investment from L Catterton, we’ll have the ability to temporarily scale our mobility hub working machine and turn into the one corporate that may flip shoppers’ parking property into amenities that allow each and every side of mobility, together with mobile-enabled parking and valet, staging for TNCs, charging for electrical automobiles, cleansing and servicing, drone launching and touchdown, and issues for turning in.”

FlashParking’s talent to innovate the parking enjoy hasn’t ever been extra obvious than via its partnership with Texas Scientific Middle (TMC), the sector’s biggest scientific town. In Might 2018, TMC selected FlashParking to assist modernize its amenities and higher reply to the evolving mobility ecosystem. Nowadays, FlashParking’s mobility platform controls 30,000 parking areas by the use of 230 lanes throughout 34 amenities whilst simplifying parking, lowering congestion, making improvements to site visitors go with the flow, and adorning the enjoy for the greater than 10 million sufferers, guests, team of workers, and scholars who discuss with TMC yearly.

Along with TMC, FlashParking is turning in at an undertaking scale of greater than 6 million parkers per 30 days and processing $1 billion in transactions at greater than 1,300 places international. 

Rodriguez endured, “L Catterton has an extraordinary monitor file of establishing main manufacturers and hastily scaling operations, which makes them the perfect spouse for us as we develop and amplify our industry. We look ahead to leveraging L Catterton’s experience and enjoy scaling multi-sided marketplaces as we paintings in combination to construct out attached cellular hubs that ship price to all stakeholders.”

L Catterton has vital enjoy in making an investment globally in technology-enabled marketplaces and companies. Present and previous investments come with ClassPass, Artsy, Vroom, Get Your Information, and Experience. 

BofA Securities served as monetary guide to FlashParking.  

To be informed extra about FlashParking’s mobility hub imaginative and prescient and working machine, please discuss with www.flashparking.com.

About FlashParking

FlashParking is a number one parking expertise corporate that addresses one of the crucial most complicated transportation issues going through city societies. Based in 2011 to highest the parking enjoy, FlashParking has grown to serve 1000’s of operations, undertaking portfolios, and sensible towns national. Nowadays, the corporate is enabling conventional parking property to conform into next-generation mobility hubs via imposing future-ready and device infrastructure, an impressive industry intelligence engine, and a strong spouse ecosystem. FlashParking is the most efficient parking answer for as of late and the one mobility answer for day after today. Discuss with us at www.flashparking.com to be told extra. 

About L Catterton

With roughly $20 billion of fairness capital throughout seven fund methods in 17 places of work globally, L Catterton is the most important consumer-focused non-public fairness company on the planet. L Catterton’s crew of greater than 190 funding and working pros companions with control groups all over the world to put in force strategic plans to foster expansion, leveraging deep class perception, operational excellence, and a large idea partnership community. Since 1989, the company has revamped 200 investments in main user manufacturers. L Catterton was once shaped throughout the partnership of Catterton, LVMH, and Groupe Arnault. For more info about L Catterton, please discuss with www.lcatterton.com.

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