Total amount raised
$14.5 Millions
Latest funding date
10/1/2021
Location
AirGarage has successfully raised funding from notable investors, including Floodgate and Founders Fund, to support its innovative parking management solutions. The company offers a comprehensive platform that handles everything from dynamic pricing to license plate recognition and enhanced enforcement.
Keep reading to explore the intricacies of AirGarage's fundraising journey and the investors backing this forward-thinking platform.
What Is AirGarage?
AirGarage, founded in 2018, is a full-stack parking operator based in San Francisco, California. The company was established by Chelsea Border, Jonathon Barkl, and Scott Fitsimones.
AirGarage manages all aspects of parking assets, including enforcement, operations, software, and payment solutions. Their comprehensive platform aims to help real estate owners monetize their parking spaces efficiently.
With a team of 11-50 employees, AirGarage leverages advanced technology to provide dynamic pricing, license plate recognition, and enhanced enforcement, ensuring a seamless parking experience for both property owners and users.
How Much Funding Has AirGarage Raised?
- Seed Round
- Amount Raised: $2.3M
- Date: June 2019
- Lead Investors: Floodgate
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial platform and expand the team.
- Series A
- Amount Raised: $12.5M
- Date: October 2021
- Lead Investors: Andreessen Horowitz
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale services, roll out new software, and develop features like automatic license plate reading.
- Funding Round
- Amount Raised: $1K
- Date: November 2024
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To cover minor operational expenses.
Total Amount Raised: $14.8M. Current Valuation: Not publicly disclosed.
Key Investors
- Andreessen Horowitz
- Details: Andreessen Horowitz, also known as a16z, is a private venture capital firm based in Silicon Valley. It was founded by Marc Andreessen and Ben Horowitz in 2009.
- Investment Focus Areas: Technology, software, fintech, biotech, consumer services.
- Notable Investments: Facebook, Airbnb, Slack.
- Floodgate
- Details: Floodgate is an early-stage venture capital firm that focuses on technology startups. It was co-founded by Mike Maples Jr. and Ann Miura-Ko.
- Investment Focus Areas: Early-stage technology startups, software, internet services.
- Notable Investments: Twitter, Lyft, Okta.
- Founders Fund
- Details: Founders Fund is a San Francisco-based venture capital firm founded by Peter Thiel, Ken Howery, and Luke Nosek. The firm is known for its bold investments in transformative technologies.
- Investment Focus Areas: Technology, aerospace, artificial intelligence, consumer internet.
- Notable Investments: SpaceX, Palantir Technologies, Facebook.
- Abstract Ventures
- Details: Abstract Ventures is an early-stage venture capital firm that invests in innovative startups. The firm is known for its broad investment strategy across various sectors.
- Investment Focus Areas: Early-stage startups, technology, healthcare, consumer products.
- Notable Investments: Not explicitly mentioned, but they are known for investing in innovative early-stage companies.
What's Next for AirGarage?
AirGarage is poised to capitalize on the growing demand for modernized parking solutions. With over 200 locations across 30 states, the company is well-positioned to expand into more urban areas and diversify its offerings, including parking for food trucks and cloud kitchens. The potential to transform an outdated industry is significant, especially with the introduction of advanced features like dynamic pricing and automatic license plate recognition.
Future fundraising opportunities appear promising, given the successful $12.5 million Series A round led by Andreessen Horowitz. Continued interest from major investors suggests that AirGarage could secure additional funding to scale its services and develop new technologies. However, the company may face challenges such as resistance from traditional operators and the need to continuously innovate to stay ahead of competitors.
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