Indianapolis-based software and service Parker Technology LLC announced Tuesday that it has raised $2 million in venture capital.
The series seed funding round was led by Elevate Ventures and several local investors.
Parker Technology, founded in 2010, sells customer-service software, products and services to parking garage operators. Its clients include IUPUI, Eskenazi Health, Indiana University, and several major colleges and cities around the country.
The company said the capital will be used for “building out a fully robust product and expanding sales and marketing efforts.”
Elevate will take a seat on Parker’s newly formed 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, in a written statement.
Parker Technology has backing from the principals of Denison Parking, a local parking operator.
Brian Wolff, the former co-founder of Bluelock, joined Parker in 2016 as CEO. Wolff also was a founding member of Gravity Ventures, which helped spawn local tech firms TinderBox and Lesson.ly.
“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 here in Indianapolis,” Wolff said in written remarks. “This capital will be crucial to helping us mature our technology and build repeatable sales processes for sustained growth and profitability.”