Flash Parking Multi-purpose mobility hubs allow parking, transportation and logistics to intersect within a smart city environment.

AUSTIN, TX—Recent studies have concluded that more than 25% of traffic congestion incidences around the world can be attributed to the scarcity of parking spaces, according to TrafficTechnologyToday.com. The cloud-based parking industry is growing more rapidly with the assistance of capital partners.

In fact, today, FlashParking received a $60 million strategic investment from private equity firm L Catterton Growth Fund. The investment will be used to scale FlashParking’s cloud-based parking system that promotes the evolution of isolated parking assets into connected mobility hubs.

Lisa Brown

Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.

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