Parking company moves past $11M in funding

Ryan Sullivan and Rishi Malik are raking in more investments for their parking startup. Photos courtesy of Parkifi.

Ryan Sullivan and Rishi Malik are raking in more investments for their parking startup. Photos courtesy of Parkifi.

A Denver tech startup isn’t parking its fundraising efforts.

ParkiFi Inc., a Denver company that makes devices and software to help garage operators keep their parking lots full, reported $8 million in fresh capital last week, according to SEC documents.

It’s part of a $9.5 million equity offering, with 36 investors, that the company reported on Feb. 1, according to the SEC.

ParkiFi now has raised $11.3 million since March 2015, according to the SEC. ParkiFi representatives declined to comment on this most recent push.

ParkiFi makes sensors that monitor parking spaces and collect data such as whether or not a slot is occupied and how long is stays full or empty. Sensors sell for $35 per parking spot, company founder Ryan Sullivan told BusinessDen last September.

He added that garages looking to monitor their parking spots can subscribe to ParkiFi’s database for between $3 and $5 per month.

Also in September, Sullivan said he was pitching ParkiFi equity to major garage operators and planned to get the first few thousand ParkiFi sensors in the market by the end of last year.

Previous ParkiFi equity buyers include Texas real estate developer Howard Hughes Corp. and Indiana-based shopping mall giant Simon Property Group. ParkiFi has operated out of its 10,000-square-foot LoDo office since May.

Ryan Sullivan and Rishi Malik are raking in more investments for their parking startup. Photos courtesy of Parkifi.

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