Story image

Movac invests in Waikato smart parking software

11 Oct 17

Waikato-based Parking Sense has raised significant funding from Movac - a Kiwi technology investment firm.

Founded in 2013, Parking Sense provides smart software solutions to car park operators around the world, including L.A.Metro, one of the largest parking guidance contracts ever awarded.

Movac partner Mark Stuart comments, “We were compelled to invest in Parking Sense by the quality of the team and their technology. They have the experience, passion and ambition to grow a successful international company at rapid scale in a space in which they’re experts.”

“Founder and CEO Paul Collins’ background as a successful serial entrepreneur was also a key factor in our decision, along with the quality of the team that he’s assembled.”

The funding will be used to build sales and delivery capability offshore, as well as increase Parking Sense’s marketing presence. Stuart will join the Parking Sense board.

Parking Sense CEO Paul Collins says the company is very focused on what it wants to do with the business, and sought an investor who understood that.

“We had a number of funding options but chose Movac due to their investment style and their experience in growing globally successful tech companies, as well as personality fit with our executive team.”

“We’re looking forward to working with Mark and the Movac team as well drive our international growth even faster”.

Phil McCaw, Movac managing partner says, “We’re thrilled to have Parking Sense in the Fund 4 portfolio, alongside Vend and Unleashed Software.”

“NZ’s ability to produce tech companies with global ambition and capability is increasing all the time. We have a number of other companies that we’re talking to about how we can fuel their plans with our capital, expertise and networks”.

Movac has been around for a while. Founded in 1998, Movac has invested in more than 25 Kiwi companies across multiple investment rounds and supports companies with mentoring, advice, and access to international networks.

How blockchain will impact NZ’s economy
Distributed ledgers and blockchain are anticipated to provide a positive uplift to New Zealand’s economy.
25% of malicious emails still make it through to recipients
Popular email security programmes may fail to detect as much as 25% of all emails with malicious or dangerous attachments, a study from Mimecast says.
Human value must be put back in marketing - report
“Digital is now so widely adopted that its novelty has worn off. In their attempt to declutter, people are being more selective about which products and services they incorporate into their daily lives."
Wine firm uses AR to tell its story right on the bottle
A Central Otago wine company is using augmented reality (AR) and a ‘digital first’ strategy to change the way it builds its brand and engages with customers.
DigiCert conquers Google's distrust of Symantec certs
“This could have been an extremely disruptive event to online commerce," comments DigiCert CEO John Merrill. 
Protecting organisations against internal fraud
Most companies tend to take a basic approach that focuses on numbers and compliance, without much room for grey areas or negotiation.
Telesmart to deliver Cloud Calling for Microsoft Teams
The integration will allow Telesmart’s Cloud Calling for Microsoft Teams to natively enable external voice connectivity from within Teams collaborative workflow environment.
Jade Software & Ambit take chatbots to next level of AI
“Conversation Agents present a huge opportunity to increase customer and employee engagement in a cost-effective manner."