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Cleverciti Secures $5.6 Million in A+ Funding Round Led by SPDG Ventures

The investment brings Cleverciti’s total funding since 2015 to $28.3 million and will help the company expand its sales and marketing activities

Cleverciti, the German and US scale-up that is leading the smart parking revolution, announced today it has raised $5.6 million USD in an A+ funding round. All existing institutional investors participated in the round led by SPDG Ventures, including The Westly Group, EnBW New Ventures (ENV), and KfW. The investment brings Cleverciti’s total funding since 2015 to $28.3 million and will help the company expand its sales and marketing activities as well as accelerate deployment of its parking Solution as a Service (SaaS).

Cleverciti’s smart parking solutions help cities and organizations reduce traffic and emissions and increase parking and shopping revenue while allowing drivers to enjoy a smooth, stress-free arrival experience. Cleverciti has been deployed in a wide variety of use cases across the globe – at over 200 locations in over 20 countries. One of Cleverciti’s latest large-scale installations is the comprehensive on-street parking guidance in Cologne that launched in June 2020. Drivers are now guided turn-by-turn to an available on-street parking space with Cleverciti’s innovative digital signs on each street corner and a mobile app.

Since pioneering its edge-computing, AI-based IoT sensors, 360-degree guidance solutions, and vehicle location cards, Cleverciti has solidified its place as the technology leader in smart parking solutions and services. The sensors and digital signs are typically mounted on lampposts and up to 100 spaces can be monitored by a single sensor. Vehicle location cards identify the precise location of a vehicle in a parking area and automate payment and permits. With deployments in smart cities, park & rides, shopping malls, hospitals, and corporate campuses, Cleverciti is defining the future of smart parking with innovative technologies.

Olivier Périer, Chairman of the Board and Lead Investor, notes: “We are proud to have all of Cleverciti’s investors around the table in the middle of a worldwide crisis. It reflects the unique position Cleverciti is in: well-funded, leading the reduction of traffic and emissions in our cities, and allowing parking operators to manage their assets in a holistic way”.

We evaluated smart parking solutions from all over the world before investing in Cleverciti. We believe Cleverciti has developed the world’s best solution for smart, efficient parking and guidance, that will help cities reimagine how they can reduce congestion in downtown and retail areas,” said Steve Westly, Managing Partner of the Westly Group.

Thomas Hohenacker, CEO and David Parker, COO, are thrilled to be partnered with this esteemed group of investors to transform the parking experience: “We must reduce CO2 emissions, make our cities smarter and more livable and reduce wasted time and energy. Cleverciti makes an immediate impact in each of these areas, by allowing drivers to use our smart parking data and turn-by-turn guidance systems to park quickly and seamlessly.

The international Cleverciti team consists of some of the brightest and most experienced experts from the fields of IoT, AI, and parking. Cleverciti’s headquarters are in Munich, Germany, and Atlanta, the US, and their global sales and customer support organizations are designed to meet customer needs around the world.

About Cleverciti

Cleverciti logoCleverciti is the leader in comprehensive, high-tech solutions for outdoor and on-street parking Clevercitidetection, monitoring, and guidance. Cleverciti provides organizations with a robust and highly reliable solution that enhances convenience, builds loyalty, and boosts engagement, allowing our customers to maximize ROI, and streamline the parking experience. Its end-to-end solutions are designed to strengthen parking detection, improve guidance, and enhance communication. With more than 200 installations in 20 countries across the world, Cleverciti seeks to help organizations reduce traffic and emissions, and increase revenue while allowing drivers to enjoy a smooth, stress-free parking experience. The company is headquartered in Munich, Germany, with offices in Chicago and Atlanta. To learn more, visit www.cleverciti.com.

About SPDG Ventures

SPDG is a Family Enterprise recognized for its active and responsible role as one of the two major shareholders of the D’Ieteren Group, for its entrepreneurial vision in its diversification portfolio, and for its philanthropic involvement. Through SPDG Ventures we build platforms of innovative companies that are sustainably improving the future of cities, by making them healthier, safer, and smarter (https://www.spdg.be/spdg-ventures/).

About ENV

ENV supports entrepreneurs to develop new solutions for a sustainable future – people, planet,
profit – by leveraging our financially driven VC setup with the reach and skills of the corporate
investor EnBW. With an investment volume of 100 million euros, EnBW New Ventures offers startups access to professional investor expertise and a customer and supplier network in the areas of energy and infrastructure. The startups that we invest in engage and scale with EnBW in its transformation towards becoming a sustainable and digital infrastructure operator. For more
information visit https://www.env.vc/

About Westly Group

The Westly Group is one of the world’s larger venture funds focused on smart energy, mobility, and cities, with 13 of the world’s larger energy and auto companies as investors. Based in Silicon Valley, The Westly Group has had four portfolio companies go public on Nasdaq including Tesla Motors. www.westlygroup.com

About KfW

KfW is one of the world’s leading promotional banks. With its decades of experience, KfW is committed to improving economic, social, and ecological living conditions across the globe on behalf of the Federal Republic of Germany and the federal states. To do this, it provided funds totaling EUR 77,3 billion in 2019 alone; and of this, 38% went into measures for protecting the environment and combating climate change.

KfW does not have any branches and does not hold customer deposits. It refinances its promotional business almost entirely through the international capital markets. In 2019 KfW raised EUR 80,6 billion for this purpose. In Germany, the KfW Group is represented in Frankfurt, Berlin, Bonn, and Cologne. Its network includes 80 offices and representations around the world. www.kfw.de

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