LAKE FOREST, Ill.--(BUSINESS WIRE)--Silicon Valley-based venture capital firm The Westly Group has joined the European investors of Cleverciti Systems (SPDG, EnBW New Ventures) to complete its current funding round with a total of $15 million. This round will allow Cleverciti Systems, the smart parking technology, management and data specialist to further accelerate its international growth.
“Our research has shown that Cleverciti’s proven smart parking systems effectively address the pain points of the main parking operators in the marketplace,” said Steve Westly, managing partner of The Westly Group. “Their innovative technology has proven its applicability and sustainability in over 18 countries during the last two years. We firmly believe that smart cities, shopping malls, airports and other large parking operators need to access reliable parking data to maximize their infrastructure’s value. Real-time and space-specific guidance of drivers will decrease emissions while increasing revenue. We are proud to support Cleverciti Systems in its growth in the U.S. and other international markets.”
The Westly Group’s investment focus lies in the most innovative companies in the energy, transportation and smart building sectors. It has become one of the largest energy, utility and sustainability VC firms in North America with $375 million under management. The Westly Group was an early investor in Tesla Motors.
Partnership with The Westly Group provides Cleverciti Systems access to international utility companies. Utilities will play a significant role in smart city development through their ownership of key data hubs. Their current utility poles will become the future strategic data hubs for smart cities.
“Our team is proud that The Westly Group has chosen Cleverciti Systems to add to its prestigious investment portfolio,” said Thomas Hohenacker, founder and CEO of Cleverciti Systems. “Our partnership with The Westly Group not only provides financial backing, but it opens many doors. Our goal is to become a leading player in the smart city environment, and partnerships are essential to make that happen. Our current utility company clients want to expand their smart data services. Cleverciti Systems’ innovative sensor technology generates accurate and real-time space-by-space parking data in a cost-effective way. To visualize the data at the poles, Cleverciti Systems has released a new digital signage system for user-friendliness.”
About The Westly Group
The Westly Group is a North American venture firm focusing on sustainable investments in smart energy, transport, and smart buildings. The firm manages assets of $375 million and among its investors are several blue chip companies: Duke Energy, E.ON, RWE, China Light and Power and Origin Energy. Four companies in the portfolio are traded on the NASDAQ exchange, including Tesla Motors.
About Cleverciti Systems GmbH
Cleverciti Systems has developed a complete end-to-end solution for parking detection, guidance and monitoring for on-street and outdoor parking. Cleverciti Systems aims to become the global smart-parking leader. Its technology will help cities to reduce traffic and pollution, allowing drivers to enjoy a seamless parking experience while enabling cities and parking operators to increase their parking revenues. The company is headquartered in Munich, Germany, with offices in Chicago and the San Francisco Bay Area. http://www.cleverciti.com
About SPDG
SPDG is a single-family firm representing the Périer-D'Ieteren branch. It co-controls the D’Ieteren Group, together with the other D'Ieteren family members. Since 1805, the Group has developed strong brands mainly in the automotive industry: D'Ieteren Auto, the leading importer of Volkswagen brands in Belgium, and Belron, the global leader in vehicle glass repair and replacement. Next to its role as a major shareholder of D'Ieteren, SPDG has developed its investing activities to drive innovation and generate lasting impact in road mobility and smart cities.
About EnBW New Ventures
EnBW New Ventures GmbH provides venture capital to young companies that develop new business models and technologies for the converging energy, mobility and urban life markets. We focus on entrepreneurial teams delivering value to their customers through scalable business models and new technologies. With an investment volume of 100 million Euros, EnBW New Ventures offers startups access to professional investor expertise as well as a customer and supplier network in the energy sector. In addition, a commercial relationship with the parent company EnBW is possible. www.env.vc