Welcome!

@CloudExpo Authors: Yeshim Deniz, Liz McMillan, Elizabeth White, Pat Romanski, Aruna Ravichandran

News Feed Item

Streetline Closes $25M Financing To Enable Internet of Things for Smart Cities

True Ventures, Citi, and Qualcomm Among New Investors Backing Global Leader in Sensor-Enabled Smart Parking Solutions

FOSTER CITY, Calif., Jan. 10, 2013 /PRNewswire/ -- Streetline, Inc. today announced that it has closed $25 million in Series C financing led by True Ventures, and new investors Citi and Qualcomm Incorporated, acting through its venture investment group, Qualcomm Ventures. Pro-rata follow-on investments were made by Sutter Hill Ventures, RockPort Capital Partners, and Fontinalis Partners to complete the round. The Series C financing augments the $25 million credit facility Streetline recently secured from Citi that enables the company to offer innovative financing options for municipalities deploying smart parking solutions.

Over the last twelve months, Streetline has expanded its real-time smart parking solutions to more than 30 cities and universities, including its first two European deployments in Braunschweig, Germany and Birmingham, U.K. Streetline intends to use the additional funding to build on this momentum and further extend its footprint globally.

"Streetline is harnessing the power of the 'Internet of Things' to tackle one of the great unsolved urban problems: parking," said Zia Yusuf, president and CEO of Streetline. "With more than 30 deployments in both the U.S. and Europe, we've moved beyond smart parking as a concept to smart parking as a reality. This investment is a validation of Streetline's achievements to date and represents a considerable endorsement of our future growth potential globally. We are delighted to welcome our new investors True Ventures, Citi, and Qualcomm and the continued support of Sutter Hill, RockPort Capital and Fontinalis."

The Internet of Things: a $15 Trillion Market
While people often think the Internet's impact is primarily centered on entertainment and social networks, GE chief economist Marco Annunziata argues that the next decade will focus on the industrial aspects of the Internet, which has the potential to become a $15 trillion industry.

The concept called the "Internet of Things" is based on networks of wireless, easily deployed sensors that transmit data back and forth to enable new insights and suggestive actions. Streetline recently announced a collaboration with Cisco, as part of the networking giant's Smart+Connected Communities program, to bring smart parking to two Silicon Valley cities (San Mateo, Calif.; San Carlos, Calif.) and reduce the time and frustration of finding an open parking spot.

"If our cities can 'talk'…for example, a parking space or fire hydrant or street light can transmit data to us in real time…we can dramatically improve the way our cities function and change the way we all live and work," noted Yusuf.

"There are so many 'things' within our cities that have the potential of providing extremely valuable data – including parking spots," said Puneet Agarwal, general partner, True Ventures. "The "Internet of Things" is on the cusp of tremendous growth, and we believe Streetline has cracked the code on making smart parking technology both reliable and cost-effective to deploy. We have invested in several innovative companies within this space, including Fitbit and 3D Robotics, and we're pleased to further expand our commitment to the Internet of Things by welcoming Streetline to the True portfolio."

Parking Reinvented
Streetline's patented smart parking platform detects the presence of a car through a network of ultra-low power wireless sensors located in individual parking spaces. Data from these sensors, or from counting equipment installed in parking garages and lots, is then made available in real time via various cloud-based applications, such as Parker™, the leading consumer guidance app for smartphones, tablets, personal computers and – soon – in-car navigation systems, as well as other applications geared toward city planners and parking facility operators. In addition to real-time data, Streetline also integrates garage data for over 23,000 locations into the only unified and complete parking data package for consumers through Parker.

"Parking is a $25 billion industry in the United States alone, and the opportunity to rethink the whole parking experience is poised to accelerate dramatically in 2013 and beyond," said Quinn Li, vice president of Qualcomm Ventures. "Qualcomm's investment in Streetline is based on the overall market opportunity, the company's solid and diversified business model, and its smart strategy for growth. We look for companies that can be the leader in their market, and we see that in Streetline."

"City leaders must harness the possibilities of technology and new financial thinking to address critical efficiency reform, modernize urban infrastructure, and provide socially inclusive access to public services," said Ward Marsh, Managing Director, Municipal Securities Division, Citi. "With its global footprint, Citi has a unique perspective on the complexities of the urban environment and the financial challenges facing mayors and municipal CFOs.  This investment fits with our 'Citi for Cities' vision. In collaboration with Streetline, we intend to work with cities to help them optimize the parking experience for citizens and the business community while improving their operations."

About Streetline, Inc.
Streetline's mission is to make smart cities a reality through the use of sensor-enabled mobile and web applications. Streetline's pioneering technology makes the parking experience for consumers easier, while making cities and university campuses more efficient.

Streetline is a privately held company headquartered in Foster City, CA with smart parking deployments in Germany, the U.K., and across the United States including California, Delaware, Florida, Indiana, Maryland, Michigan, Nevada, New Jersey, New York, Oregon, South Carolina, Virginia, and Washington, DC.  The company was named one of Fast Company's 10 Most Innovative Companies in Transportation, as well as IBM Global Entrepreneur of the Year.  In October 2012, Streetline was named a finalist for the prestigious 2012 World Technology Awards.

For more information on the company visit: http://www.streetline.com.

To download the free consumer guidance app Parker by Streetline please visit: www.theparkerapp.com.

SOURCE Streetline, Inc.

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@CloudExpo Stories
When it comes to cloud computing, the ability to turn massive amounts of compute cores on and off on demand sounds attractive to IT staff, who need to manage peaks and valleys in user activity. With cloud bursting, the majority of the data can stay on premises while tapping into compute from public cloud providers, reducing risk and minimizing need to move large files. In his session at 18th Cloud Expo, Scott Jeschonek, Director of Product Management at Avere Systems, discussed the IT and busine...
SYS-CON Events announced today that Evatronix will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Evatronix SA offers comprehensive solutions in the design and implementation of electronic systems, in CAD / CAM deployment, and also is a designer and manufacturer of advanced 3D scanners for professional applications.
As businesses evolve, they need technology that is simple to help them succeed today and flexible enough to help them build for tomorrow. Chrome is fit for the workplace of the future — providing a secure, consistent user experience across a range of devices that can be used anywhere. In her session at 21st Cloud Expo, Vidya Nagarajan, a Senior Product Manager at Google, will take a look at various options as to how ChromeOS can be leveraged to interact with people on the devices, and formats th...
First generation hyperconverged solutions have taken the data center by storm, rapidly proliferating in pockets everywhere to provide further consolidation of floor space and workloads. These first generation solutions are not without challenges, however. In his session at 21st Cloud Expo, Wes Talbert, a Principal Architect and results-driven enterprise sales leader at NetApp, will discuss how the HCI solution of tomorrow will integrate with the public cloud to deliver a quality hybrid cloud e...
DevOps at Cloud Expo, taking place October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 21st Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to w...
Is advanced scheduling in Kubernetes achievable? Yes, however, how do you properly accommodate every real-life scenario that a Kubernetes user might encounter? How do you leverage advanced scheduling techniques to shape and describe each scenario in easy-to-use rules and configurations? In his session at @DevOpsSummit at 21st Cloud Expo, Oleg Chunikhin, CTO at Kublr, will answer these questions and demonstrate techniques for implementing advanced scheduling. For example, using spot instances ...
DevOps is under attack because developers don’t want to mess with infrastructure. They will happily own their code into production, but want to use platforms instead of raw automation. That’s changing the landscape that we understand as DevOps with both architecture concepts (CloudNative) and process redefinition (SRE). Rob Hirschfeld’s recent work in Kubernetes operations has led to the conclusion that containers and related platforms have changed the way we should be thinking about DevOps and...
SYS-CON Events announced today that Taica will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Taica manufacturers Alpha-GEL brand silicone components and materials, which maintain outstanding performance over a wide temperature range -40C to +200C. For more information, visit http://www.taica.co.jp/english/.
When it comes to cloud computing, the ability to turn massive amounts of compute cores on and off on demand sounds attractive to IT staff, who need to manage peaks and valleys in user activity. With cloud bursting, the majority of the data can stay on premises while tapping into compute from public cloud providers, reducing risk and minimizing need to move large files. In his session at 18th Cloud Expo, Scott Jeschonek, Director of Product Management at Avere Systems, discussed the IT and busine...
SYS-CON Events announced today that SourceForge has been named “Media Sponsor” of SYS-CON's 21st International Cloud Expo, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. SourceForge is the largest, most trusted destination for Open Source Software development, collaboration, discovery and download on the web serving over 32 million viewers, 150 million downloads and over 460,000 active development projects each and every month.
Enterprises have taken advantage of IoT to achieve important revenue and cost advantages. What is less apparent is how incumbent enterprises operating at scale have, following success with IoT, built analytic, operations management and software development capabilities – ranging from autonomous vehicles to manageable robotics installations. They have embraced these capabilities as if they were Silicon Valley startups. As a result, many firms employ new business models that place enormous impor...
SYS-CON Events announced today that TidalScale will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. TidalScale is the leading provider of Software-Defined Servers that bring flexibility to modern data centers by right-sizing servers on the fly to fit any data set or workload. TidalScale’s award-winning inverse hypervisor technology combines multiple commodity servers (including their ass...
As popularity of the smart home is growing and continues to go mainstream, technological factors play a greater role. The IoT protocol houses the interoperability battery consumption, security, and configuration of a smart home device, and it can be difficult for companies to choose the right kind for their product. For both DIY and professionally installed smart homes, developers need to consider each of these elements for their product to be successful in the market and current smart homes.
SYS-CON Events announced today that MIRAI Inc. will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. MIRAI Inc. are IT consultants from the public sector whose mission is to solve social issues by technology and innovation and to create a meaningful future for people.
In his general session at 21st Cloud Expo, Greg Dumas, Calligo’s Vice President and G.M. of US operations, will go over the new Global Data Protection Regulation and how Calligo can help business stay compliant in digitally globalized world. Greg Dumas is Calligo's Vice President and G.M. of US operations. Calligo is an established service provider that provides an innovative platform for trusted cloud solutions. Calligo’s customers are typically most concerned about GDPR compliance, applicatio...
Companies are harnessing data in ways we once associated with science fiction. Analysts have access to a plethora of visualization and reporting tools, but considering the vast amount of data businesses collect and limitations of CPUs, end users are forced to design their structures and systems with limitations. Until now. As the cloud toolkit to analyze data has evolved, GPUs have stepped in to massively parallel SQL, visualization and machine learning.
In his Opening Keynote at 21st Cloud Expo, John Considine, General Manager of IBM Cloud Infrastructure, will lead you through the exciting evolution of the cloud. He'll look at this major disruption from the perspective of technology, business models, and what this means for enterprises of all sizes. John Considine is General Manager of Cloud Infrastructure Services at IBM. In that role he is responsible for leading IBM’s public cloud infrastructure including strategy, development, and offering ...
As hybrid cloud becomes the de-facto standard mode of operation for most enterprises, new challenges arise on how to efficiently and economically share data across environments. In his session at 21st Cloud Expo, Dr. Allon Cohen, VP of Product at Elastifile, will explore new techniques and best practices that help enterprise IT benefit from the advantages of hybrid cloud environments by enabling data availability for both legacy enterprise and cloud-native mission critical applications. By rev...
SYS-CON Events announced today that Dasher Technologies will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Dasher Technologies, Inc. ® is a premier IT solution provider that delivers expert technical resources along with trusted account executives to architect and deliver complete IT solutions and services to help our clients execute their goals, plans and objectives. Since 1999, we'v...
SYS-CON Events announced today that NetApp has been named “Bronze Sponsor” of SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. NetApp is the data authority for hybrid cloud. NetApp provides a full range of hybrid cloud data services that simplify management of applications and data across cloud and on-premises environments to accelerate digital transformation. Together with their partners, NetApp emp...