US-based Streetline, a Qualcomm-backed developer of vehicle parking management technology, raised $10m in series D financing yesterday.
Investors in the current round have not been officially disclosed, but Streetline’s existing backers include Qualcomm Ventures, the corporate venturing arm of wireless telecommunications company Qualcomm, financial services firm Citigroup, and venture firms Fontinalis Partners, RockPort Capital Partners, Sutter Hill Ventures and True Ventures.
Qualcomm Ventures led Streetline’s $25m series C round in January 2013, and in total the company has now raised more than $50m since it was founded in 2005.
Streetline specialises in offering smart data and analytics products to parking operators and builders, and has an agreement with technology multinational Cisco to introduce a camera-based smart parking and integrated network service.
The company, which has a presence in the US, Canada and Europe, plans to use the funds to deepen its product offering, especially for private parking operators.