T2 Systems, Inc. Receives $3 Million in Growth Capital
T2 Systems, Inc. announces it has received a $3 million growth investment from Petra Capital Partners. The capital will help T2 further enhance and expand customer service, and enable it to continue to invest in technical development and delivery of the companys unified parking management system, T2 Flex.
Petra Capital Partners investment in T2 Systems is the private equity firms first from its newest fund, Petra Growth Fund II, L.P.
T2 has always partnered with its clients, anticipating trends and developing solutions that help parking managers simplify their processes and increase their revenues.
According to Mike Simmons, chief executive office of T2 Systems, this is what the new growth capital will be used for. Petras investment allows us to strengthen what has always been our focus --personalized customer service, a dedication to meeting the needs of the parking industry and continued investment in R&D. T2 Systems will maintain its continuity of leadership and remain privately owned in order to fully achieve these goals, said Simmons.
To build on its established team of parking industry professionals and maintain the work environment and personal level of customer service for which the company is known, T2 Systems plans to hire approximately 40 employees in the coming year.
Rob Smith, a partner of Petra Capital Partners, said, "We are excited to make T2 the first investment in our new fund. T2 has done a terrific job establishing a leadership
position in providing parking management solutions to the university and municipal markets. They are poised for a very healthy future and have a proven track record in
servicing their industry.
T2 has always partnered with its clients, anticipating trends and developing solutions that help parking managers simplify their processes and increase their revenues.
According to Mike Simmons, chief executive office of T2 Systems, this is what the new growth capital will be used for. Petras investment allows us to strengthen what has always been our focus --personalized customer service, a dedication to meeting the needs of the parking industry and continued investment in R&D. T2 Systems will maintain its continuity of leadership and remain privately owned in order to fully achieve these goals, said Simmons.
To build on its established team of parking industry professionals and maintain the work environment and personal level of customer service for which the company is known, T2 Systems plans to hire approximately 40 employees in the coming year.
Rob Smith, a partner of Petra Capital Partners, said, "We are excited to make T2 the first investment in our new fund. T2 has done a terrific job establishing a leadership
position in providing parking management solutions to the university and municipal markets. They are poised for a very healthy future and have a proven track record in
servicing their industry.
About T2 Systems, Inc.
Since 1994, T2 Systems has delivered proven parking solutions that meet the ever-changing needs of the parking industry. This commitment is evident in T2s quality products and services, thought leadership and strong customer relationships. With its broad range of technology-based solutions, T2 Systems is trusted by more than 300 organizations in the US and Canada including universities, cities, towns, hospitals and airports. T2 Systems isheadquartered in Indianapolis, Indiana and has virtual offices throughout the United States and Canada. For additional information about T2 Systems, Inc. products and services, visit www.T2systems.com.
About Petra Capital Partners
Petra Capital Partners, LLC is a private equity firm based in Nashville, Tennessee with $150 million of capital under management. The most recent fund, Petra Growth Fund II, L.P., had a first closing in January 2007 and is a licensed Small Business Investment Company. Petra seeks to invest up to $10 million in later stage growth companies in need of expansion capital. The fund targets business, healthcare and information services companies. For moreinformation, please visit Petras website at www.petracapital.com or call (615) 313-5999.
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