Austin-based startup has raised $60 million from 鈥檚 Growth Fund, the company announced Wednesday.
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FlashParking sells its parking technology to parking garage owners or managers. The company operates pretty much everywhere in the United States where there鈥檚 paid parking, CEO Juan Rodriguez said in an interview with 附近上门 News. With the new funding, it plans to grow in its current markets and expand into others.
The company, which was founded in 2011, has raised less than $5 million in funding to date, Rodriguez said. It raised a $1.25 million Series A in 2012 and another $3 million in 2016, with investors including and .
But still, FlashParking has grown 100 percent for 鈥減retty much the last seven years in a row,鈥 Rodriguez said, and the company achieved profitability about two years ago.
The Parking Garage Of The Future
FlashParking wants to bring its 鈥渕obility hubs鈥 mainstream. Instead of parking garages being simply a space for cars, the company intends to provide a suite of services.
鈥淚t鈥檚 transforming the parking garage of today to what the parking garage of the future will look like,鈥 Rodriguez said. That means fewer parking garages with cars just sitting in them, and more that have electric vehicle charging stations, oil change, cleaning and other maintenance services, and deliveries to cars.
Rideshare drivers, for example, could use parking garages as staging areas where they could stop to use the restroom or grab a snack and get back on the road when they need to, Rodriguez said.
鈥淲e have a ton of information and we鈥檙e connected to all of them [customers] and we鈥檒l be creating all of these credentials so these partners can conduct other non-parking related activities inside the mobility hub,鈥 he said.
The company currently has about 150 employees and plans to double its workforce. The goal is to capture about 40 percent of the U.S. market in the next three to five years, Rodriguez said.
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