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DENVER: Parking Tech Startup Raises Another $8M

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DENVER: Parking Tech Startup Raises Another $8M

Parkifi—the creator of a system of sensors and software that tells people in real time where there are available spaces in garages, surface lots and on-street parking—has raised $8M in its latest funding round, which it will use to hire more staff and deploy its technology at more garages, shopping malls and office buildings around the country.

The tech uses magnetic-field sensors to monitor which spaces are available and communicates it to lot operators and drivers through apps; thousands of sensors have already been installed in Denver, Boulder, California and Tennessee, reports the Denver Business Journal.

This round of funding follows a successful $2M raise last May, which was backed by Simon Property Group, Howard Hughes Corp and Camber Creek. [DBJ]