Regina, SK. – Offstreet today announced the closing of a $1.2M seed round. This fundraising round involved participation from new and existing investors, including a first place win at the StartupTNT Investment Summit VI.
“We’re thrilled to announce that we’ve closed our latest funding round from some of the top investors in the industry. This investment will enable us to scale our team, accelerate our product development, and expand our reach to new markets,” says Matt Fahlman, Co-Founder and CEO at Offstreet.
“We’re grateful for the support of our investors, the trust from our customers, and the hard work from our team. We’re excited about the opportunities that lie ahead as we continue to build the industry’s best parking validation solution.
Although the capital is nice, we know the only long-term competitive advantage is building a world class product. We have a lot of work to do and are extremely excited about the future and what we can accomplish in the parking industry!”
Offstreet was founded in 2016 by Matt Fahlman and Kyle Smyth in Regina, SK. Working closely with private parking operators, it became apparent that validations were a major pain point and prevented operators from going fully digital with LPR enforcement.
Over the last 5 years Offstreet has become the most flexible validation tool on the market that services over 500 parking lots. Offstreet enables parking managers to offer an effective validation solution to clients, as well as digitize paid parking exemptions.
Offstreet’s license plate-based parking validation software allows parking managers to digitize and easily manage paid parking exemptions at ungated lots and garages. Typical exemptions include merchant validations, special guests and visitors, and employee parking.