Member News: Parker Technology Closes $2 Million Seed Round with Elevate Ventures
INDIANAPOLIS, November 12, 2019 – Parker Technology today announced an investment of $2M as a series seed round, led by Elevate Ventures and several investors, including a strategic investor. The influx of capital will be used for building out a fully robust product and expanding sales and marketing efforts. Elevate will take a seat on the newly formed Parker Technology board of directors.
“We are very encouraged by Parker Technology and their role in helping to drive innovation in the rapidly changing parking industry,” said Chris LaMothe, CEO at Elevate Ventures. “Parker Technology’s values and dedication to customer satisfaction have proven to be successful to maximize customer acquisition as they continue to scale and advance their product.”
Brian Wolff, President & CEO of Parker Technology added “I appreciate the confidence that Elevate has shown in Parker by leading this round, and the tremendous support we have received from the technology community. We’re building a company that delivers a world-class customer experience with authentic concern, through our people and our technology platform. This capital will be crucial in helping us mature our technology and build repeatable sales processes for sustained growth and profitability.”
Data suggests that the challenge for parking operators is not to make machines or technology more reliable. The fact is that only 15% of requests for help in parking facilities are driven by equipment malfunction. 85% of the time, a human is confused or has failed in some other way, and the only way to save that customer experience is with a patient, well trained, knowledgeable human being. That is exactly what Parker did 62,000 times last month and more than a million times in the past four years.
To date, Parker Technology does business with 74 management companies, in over 900 lanes across the US. Parker has carved out a unique niche and attracted numerous important and recognizable customers, including: IUPUI, Eskenazi Health, University of Michigan, Penn State University, Arizona State University, UT Health San Antonio, City of Las Vegas, City of Durham, City of Asheville, City of Lansing, Allpro Parking, Platinum Parking, Towne Park and Park-Rite, to name a few.
Due to the increased interest from various verticals within the industry, Parker Technology is forming an advisory board to better serve each market and to further guide the company’s growth and influence.
About Parker Technology
Parker Technology is a fast-growth tech-led software and services company that provides parking facilities with a premium customer experience, by helping resolve issues for parking guests when they fail in the face of automated payment kiosks. Parker’s patient, well-informed customer service specialists answer and resolve intercom “help” calls 24/7, and boasts being the only company in the parking industry that can deliver this service with face-to-face, two-way video communication. Putting this personal, human touch back into an automated situation enhances the customer experience, improves operational efficiencies and increases successful payments and outcomes. Learn more at www.helpmeparker.com.