ParkMe Announces New Funding from Angeleno Group and Existing Investors

Wed Jan 23, 2013 10:00am EST

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Investment Fuels Expansion of ParkMe`s Leading Real-Time Parking Solution
LOS ANGELES--(Business Wire)--
ParkMe, the world`s most comprehensive database and analytics software solution
for on-street and off-street parking locations and availability, today announced
a new investment by Angeleno Group, a Los Angeles-based private equity firm
focused on high growth energy and natural resources companies, and existing
investors, Fontinalis Partners and IDG Ventures. In addition, Daniel Weiss,
Managing Partner & co-founder of Angeleno Group, has joined the ParkMe board of
directors. 

As the leading provider of dynamic and real-time parking data, analytics and
services, ParkMe will utilize the new funds to expand its international
footprint and continue to grow its existing U.S. presence. Currently, ParkMe
provides parking data and availability in 500 cities across the U.S. and Europe.
Most recently, ParkMe released its real-time on-street parking solution for
drivers in Los Angeles and Santa Monica after initially launching in Austin last
year. The company plans to use the new funds to build its technology team and to
foster additional business development and marketing initiatives. 

"With an average of 30% of traffic in urban areas caused by drivers searching
for parking, congestion poses an ever-growing frustration to millions of
motorists and creates substantial economic and environmental costs," said Daniel
Weiss, Managing Partner of Angeleno Group. "We are excited by ParkMe`s unique,
data-centric, analytical approach to parking guidance and optimization and look
forward to working with the ParkMe team to bring their solution to drivers
around the world." 

"The backing of high caliber investors like Angeleno Group, Fontinalis and IDG
speaks directly to the magnitude of the opportunity that we are trying to
address," said Sam Friedman, CEO and Co-Founder of ParkMe. "For years, drivers
have lacked a technology solution to make finding and paying for parking a more
seamless endeavor. Through its vast partner network of parking owners and
operators as well as cities, ParkMe is empowering drivers with connectivity and
real-time parking information that they've been without for far too long." 

ParkMe delivers accurate, real-time parking guidance to drivers through mobile
and digital devices including smartphones and in-car navigation systems,
bringing the parking industry online for drivers and parking owners through a
novel real-time marketplace. The company`s proprietary software analytics
platform utilizes existing infrastructure to provide drivers with real-time
parking availability, without the need for additional hardware or equipment. 

ABOUT PARKME

Based in Santa Monica, Calif., ParkMe is the leading provider of parking
information to navigation companies and smartphones. Founded by Sam Friedman and
Alex Israel, ParkMe`s mission is to make parking easier. ParkMe collects and
aggregates data about both on-street and off-street parking and has built the
world`s most comprehensive parking database and analytics software. This
includes more than 25,000 worldwide locations in more than 500 cities serving an
estimated population of 235 million drivers in 19 countries and three
continents. ParkMe`s free app, ParkMe, helps drivers find parking in real time
from their smartphones or in-car navigation systems. Recently ParkMe launched
its real time on street solution for parking in Los Angeles and parking in Santa
Monica. For more information, visit www.parkme.com. ParkMe can be found on
Twitter @TheParkMeApp, and on Facebook at http://www.facebook.com/theparkmeapp. 

ABOUT ANGELENO GROUP

Founded in 2001, Angeleno Group is a pioneer in providing growth capital for
next generation clean energy and natural resources companies. The firm invests
opportunistically in a range of deal types, with a strategy that is
sector-focused, stage-agnostic and research-driven. Since its founding, Angeleno
Group has become one of the largest dedicated energy growth equity investment
firms, making investments on a global basis with investment professionals
operating in the U.S., Asia and Australia. For more information, please visit
www.angelenogroup.com.

Allison+Partners on behalf of ParkMe
Natascha French, 310.496.4437
ParkMe@allisonpr.com

Copyright Business Wire 2013