If you live in LA, chances are good that when the word ‘parking’ enters into your conversations it’s usually followed by the word ‘nightmare.’ Indeed, few cities have as much of a parking problem as our fine city of angels, where finding a good parking spot could very well involve a deal with the devil.
That’s the problem Santa Monica startup Parking In Motion is trying to solve. The company, which announced a Series A round of funding in an undisclosed amount today, has an iPhone app in stores now and an Android app on the way — both designed to help drivers find open parking spaces near them. According to SoCalTech, Parking In Motion is bringing together cities, parking lot operators and consumers to create a better way to park. “The company says it has a database of more than 25,000 parking locations in over 500 cities, and is tapping into smart parking meters, sensors, and parking gates to locate parking space for users.”
Parking In Motion, which was founded by Sam Friedman and Alex Israel, is also making that database available to developers, who can incorporate parking services into their apps as well. With today’s funding round, co-led by IDG Ventures and Fontinalis Partners, the company hopes to speed up its efforts to make parking a whole lot less nightmarish — not just in LA, but around the world as well. “We are pleased that two of the world’s leading technology and transportation investors have joined us to take Parking In Motion to the next level, and we view the investment as further validation of the growing importance of real-time transportation data,” Friedman said. “We are all excited to make the search for a parking space a thing of the past, and this partnership will accelerate our progress towards that goal.”