Click here to close now.

Welcome!

Virtualization Authors: SmartBear Blog, Liz McMillan, Pat Romanski, Mike Kavis, Elizabeth White

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.

@ThingsExpo Stories
In this session we look at creating interactive communications via the web by adding messaging, file transfer, and group communication (group chat and audio/video conferencing) into the web experience. We will also discuss potential applications of this technology in areas including B2B, B2C, P2P, and gaming. Peter is Technical Director at Acision. He graduated from The University of Edinburgh in 2000 with a BSc (Hons) in Computer Science. After graduation Peter worked on a PSTN switch developing signalling stacks for SS7, ISDN and similar protocols and creating advanced routing and serv...
SYS-CON Media announced today that @WebRTCSummit Blog, the largest WebRTC resource in the world, has been launched. @WebRTCSummit Blog offers top articles, news stories, and blog posts from the world's well-known experts and guarantees better exposure for its authors than any other publication. @WebRTCSummit Blog can be bookmarked ▸ Here @WebRTCSummit conference site can be bookmarked ▸ Here
SYS-CON Events announced today that Ciqada will exhibit at SYS-CON's @ThingsExpo, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Ciqada™ makes it easy to connect your products to the Internet. By integrating key components - hardware, servers, dashboards, and mobile apps - into an easy-to-use, configurable system, your products can quickly and securely join the internet of things. With remote monitoring, control, and alert messaging capability, you will meet your customers' needs of tomorrow - today! Ciqada. Let your products take flight. For more inform...
SYS-CON Events announced today the IoT Bootcamp – Jumpstart Your IoT Strategy, being held June 9–10, 2015, in conjunction with 16th Cloud Expo and Internet of @ThingsExpo at the Javits Center in New York City. This is your chance to jumpstart your IoT strategy. Combined with real-world scenarios and use cases, the IoT Bootcamp is not just based on presentations but includes hands-on demos and walkthroughs. We will introduce you to a variety of Do-It-Yourself IoT platforms including Arduino, Raspberry Pi, BeagleBone, Spark and Intel Edison. You will also get an overview of cloud technologies s...
Can call centers hang up the phones for good? Intuitive Solutions did. WebRTC enabled this contact center provider to eliminate antiquated telephony and desktop phone infrastructure with a pure web-based solution, allowing them to expand beyond brick-and-mortar confines to a home-based agent model. It also ensured scalability and better service for customers, including MUY! Companies, one of the country's largest franchise restaurant companies with 232 Pizza Hut locations. This is one example of WebRTC adoption today, but the potential is limitless when powered by IoT.
GENBAND introduced its Real Time Communications (RTC) Client for Lync* to seamlessly combine real-time communications with Lync Instant Messaging (IM) and Presence. “We’re shaking up the economics of delivering Unified Communications (UC) and offering a compelling way to integrate previously bespoke communications technologies,” said Carl Baptiste, GENBAND’s Senior Vice President, Enterprise Solutions. “We’re offering enterprises the best of both worlds by combining our own high availability voice, video and collaboration with Lync’s IM and Presence; creating a single, web centric, client. O...
SYS-CON Events announced today that GENBAND, a leading developer of real time communications software solutions, has been named “Silver Sponsor” of SYS-CON's WebRTC Summit, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. The GENBAND team will be on hand to demonstrate their newest product, Kandy. Kandy is a communications Platform-as-a-Service (PaaS) that enables companies to seamlessly integrate more human communications into their Web and mobile applications - creating more engaging experiences for their customers and boosting collaboration and productiv...
SYS-CON Events announced today that SoftLayer, an IBM company, has been named “Gold Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place June 9-11, 2015 at the Javits Center in New York City, NY, and the 17th International Cloud Expo®, which will take place November 3–5, 2015 at the Santa Clara Convention Center in Santa Clara, CA. SoftLayer operates a global cloud infrastructure platform built for Internet scale. With a global footprint of data centers and network points of presence, SoftLayer provides infrastructure as a service to leading-edge customers ranging from ...
SYS-CON Events announced today that BroadSoft, the leading global provider of Unified Communications and Collaboration (UCC) services to operators worldwide, has been named “Gold Sponsor” of SYS-CON's WebRTC Summit, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. BroadSoft is the leading provider of software and services that enable mobile, fixed-line and cable service providers to offer Unified Communications over their Internet Protocol networks. The Company’s core communications platform enables the delivery of a range of enterprise and consumer calling...
SYS-CON Events announced today that Cisco, the worldwide leader in IT that transforms how people connect, communicate and collaborate, has been named “Gold Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Cisco makes amazing things happen by connecting the unconnected. Cisco has shaped the future of the Internet by becoming the worldwide leader in transforming how people connect, communicate and collaborate. Cisco and our partners are building the platform for the Internet of Everything by connecting the...
SYS-CON Events announced today that Liaison Technologies, a leading provider of data management and integration cloud services and solutions, has been named "Silver Sponsor" of SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York, NY. Liaison Technologies is a recognized market leader in providing cloud-enabled data integration and data management solutions to break down complex information barriers, enabling enterprises to make smarter decisions, faster.
Recent technology advances in miniaturization has positioned the wearables as the pinnacle of technology convergence with the human body. We inquire if wearables are mere standard miniaturized devices extended with the connectivity and present our views on considerations like design, applications, performance, efficiency, interoperability, usage scenarios, human device interaction and consequent trade-offs enabling wearables to impart optimal value.
SYS-CON Events announced today that Windstream, a leading provider of advanced network and cloud communications, has been named “Silver Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9–11, 2015, at the Javits Center in New York, NY. Windstream (Nasdaq: WIN), a FORTUNE 500 and S&P 500 company, is a leading provider of advanced network communications, including cloud computing and managed services, to businesses nationwide. The company also offers broadband, phone and digital TV services to consumers primarily in rural areas.
Participants will reach the final if their IoT solution is liked. A community vote will determine the best solutions submitted in each country, after which an expert jury will select the national winners and the best international IoT solution. Each country's best solution can win a national marketing campaign worth up to €30,000 and become a partner in Deutsche Telekom's participating markets. The winning international solution can become partner of Deutsche Telekom Group across all eight countries and reach out to a potential of 10,8 million business customers. Deutsche Telekom Group has a...
SYS-CON Events announced today that ProfitBricks, the provider of painless cloud infrastructure, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY., and the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. ProfitBricks is the IaaS provider that offers a painless cloud experience for all IT users, with no learning curve. ProfitBricks boasts flexible cloud servers and networking, an integrated Data Center Designer tool f...
SYS-CON Events announced today that Dyn, the worldwide leader in Internet Performance, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Dyn is a cloud-based Internet Performance company. Dyn helps companies monitor, control, and optimize online infrastructure for an exceptional end-user experience. Through a world-class network and unrivaled, objective intelligence into Internet conditions, Dyn ensures traffic gets delivered faster, safer, and more reliably than ever.
SYS-CON Events announced today that Open Data Centers (ODC), a carrier-neutral colocation provider, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place June 9-11, 2015, at the Javits Center in New York City, NY. Open Data Centers is a carrier-neutral data center operator in New Jersey and New York City offering alternative connectivity options for carriers, service providers and enterprise customers.
SYS-CON Events announced today that On the Avenue Marketing Group, a sales and marketing firm that utilizes events to market and sell products to consumers, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. On the Avenue Marketing Group (OTA) is a sales and marketing firm that utilizes events to market and sell products to consumers. On behalf of our clients, we attend thousands of fairs, festivals, expos, concerts, conferences, and sporting events annually, helping them reach millions of individuals ...
SYS-CON Events announced today that ActiveState, the leading independent Cloud Foundry and Docker-based PaaS provider, has been named “Silver Sponsor” of SYS-CON's DevOps Summit New York, which will take place June 9-11, 2015, at the Javits Center in New York City, NY. ActiveState believes that enterprises gain a competitive advantage when they are able to quickly create, deploy and efficiently manage software solutions that immediately create business value, but they face many challenges that prevent them from doing so. The Company is uniquely positioned to help address these challenges thro...
SYS-CON Events announced today that Vitria Technology, Inc. will exhibit at SYS-CON’s @ThingsExpo, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Vitria will showcase the company’s new IoT Analytics Platform through live demonstrations at booth #330. Vitria’s IoT Analytics Platform, fully integrated and powered by an operational intelligence engine, enables customers to rapidly build and operationalize advanced analytics to deliver timely business outcomes for use cases across the industrial, enterprise, and consumer segments.