Streetline, a Foster City, CA smart parking company, closed $10m financing.
Backers included Citi, Fontinalis Partners, RockPort Capital Partners, Sutter Hill Ventures, True Ventures, and Qualcomm Incorporated, acting through its venture investment group, Qualcomm Ventures. In conjunction with the funding, Abe Yokell, a partner with RockPort Capital Partners, joined the company’s Board of Directors.
The company intends to use the funds to expand its product offerings, particularly for private parking operators, merchants, and consumers.
Led by Zia Yusuf, president and CEO, Streetline delivers smart data and advanced analytics to solve parking issues for customers worldwide. Its technology features sound level and road surface temperature sensing capabilities to allow cities and universities to further enhance their ‘smart city’ or ‘smart campus’ initiatives.
The company has deployments in Germany, France, the U.K., and across the United States including California, Delaware, Florida, Indiana, Maryland, Massachusetts, Michigan, Nevada, New Jersey, New York, Ohio, Oregon, South Carolina, Virginia, Washington, and Washington, DC.