CityLift Parking Secures $22.5 Million Series C Funding With Dundon Capital Partners
OAKLAND, CA – CityLift Parking (“CityLift”), the leading provider of automated parking lifts in the U.S., announced it has completed its Series C capital round with Dundon Capital Partners LLC (“DCP”). The investment is the largest completed for any U.S. automated parking lift company in the market today. Specific terms of the transaction were not disclosed. CityLift plans to use funds to accelerate its growth and invest in technology innovation to address the rapidly growing automated parking lift industry. John Zutter, Jason Kulas and Jeff Vanderbilt from DCP will be joining CityLift’s Board.
“We are delighted to be partnering with DCP,” says Scott Gable, CEO and co-founder of CityLift Parking. “This investment is a vote of confidence in CityLift as the leading player in the future of parking.”
This funding builds on an exceptional year for CityLift. CityLift was recognized by Inc. Magazine as the 66th fastest growing company in the United States and the fourth fastest growing company in the construction industry. With its CityLift Puzzle™ design, CityLift became the only company approved for semi-automated parking lift systems in Los Angeles. It completed the largest project in the country, a 235-space project in Oakland, CA, and the first 5-level puzzle lift in the U.S., in Nashville, TN. The company is building the first fully automated system in the Pacific Northwest and the first parking lift system in Salt Lake City.
“DCP’s experience with rapidly growing companies complements CityLift’s current capabilities and will allow it to expand into new markets and attract new customers” says Mike Ghielmetti, CityLift Board Member and co-founder.
The funding is also well timed to catch the industry growth wave. Automated parking lifts are rapidly being accepted by cities, developers, architects and builders as a means to use less space, build faster, and reduce cost versus building conventional parking.
“CityLift has demonstrated itself as a clear market leader in the parking space and fits well with our focus on opportunities with strong leadership, attractive and sustainable margins and secular growth trends. We are excited to partner with Scott and Mike and the team going forward.” says John Zutter, Partner of Dundon Capital Partners. Mr. Zutter will be joining CityLift’s Board as its Chairman.
About CityLift Parking
CityLift Parking designs, installs, and services automated parking lifts that save space, reduce the cost of building parking, and reduce construction time. CityLift is headquartered in Oakland, CA, with offices in Los Angeles and Boston.
About Dundon Capital Partners
Dallas-based Dundon Capital Partners, LLC is a private investment firm focused on private equity and credit investments across a range of industries. The firm has unique operational experience and managerial capability, combined with its financial backing drives value for its investments and help them achieve their full-growth potential and long-term objectives. DCP holds investments in companies such as Topgolf, Employer Direct Healthcare, OTO Development and a variety of commercial and residential real estate assets.
Director of Marketing
CityLift Parking Ranks No. 66 on the 2019 Inc. 5000 List of America’s Fastest-Growing Private Companies with Three-Year Revenue Growth of 4,401.9% Percent
NEW YORK, August 14, 2019 – Inc. magazine today revealed that CityLift Parking is No. 66 on its annual Inc. 5000 list, the most prestigious ranking of the nation’s fastest-growing private companies. The list represents a unique look at the most successful companies within the American economy’s most dynamic segment—its independent small businesses. Microsoft, Dell, Domino’s Pizza, Pandora, Timberland, LinkedIn, Yelp, Zillow, and many other well-known names gained their first national exposure as honorees on the Inc. 5000.
“We have experienced tremendous growth in the last three years and it’s great to be recognized for that effort,” says Scott Gable, CEO of CityLift Parking. “CityLift is honored to be included in the 2019 Inc. 5000 list, and we would like to thank our customers and our partners for embracing automated parking to solve the challenges of building in today’s space constrained locations.”
Additionally, CityLift is ranked No.4 in the Construction category for fastest growing companies. Not only have the companies on the 2019 Inc. 5000, which are listed online at Inc.com, been very competitive within their markets, but the list as a whole shows staggering growth compared with prior lists.
CityLift Parking designs, installs, and services automated parking lifts that save space, reduce the cost of building parking, and reduce the greenhouse gas emissions of building parking structures. CityLift is headquartered in Oakland, CA with office in Los Angeles, Boston, and Portland.
About Inc. Media
The Inc. 5000 is a list of the fastest-growing private companies in the nation. Started in 1982, this prestigious list has become the hallmark of entrepreneurial success.
Director of Marketing
CITYLIFT COMPLETES AUTOMATED PARKING IN SACRAMENTO
AUTOMATED PARKING AVAILABLE AT 19J IN SACRAMENTO
Located in the heart of midtown Sacramento, 19J is an 11-story mixed-use building consisting of 175 residential units, with approximately 6,600 square feet of retail on the ground floor. Using CityLift’s 3-Level Puzzle with a Pit solution, 19J was able to maximize their parking for their residents.
Developed by Mohanna Development, 19J was built with the millenial in mind. Millennial residents value outdoor experience and amenities provided within walking distance. 19J enables residents to spend less money on rent, less time indoors and more time in the heart of midtown, generating an increased demand for restaurants/services. 19J will provide a variety of housing units in the sought-after central midtown area near some of the most populated restaurants and shops.
For more information on 19J, please visit http://19jmidtown.com/
TAKE THE SPACE OUT OF PARKING.
CityLift Parking designs, installs, and services automated parking systems that reduce the footprint needed for parking and can typically be done at a lower cost per space than conventional parking. With over 60,000 parking spaces of our systems installed in 13 countries around the world over the past 15 years, we believe we are the first company that brings a wide range of proven best-in-class products at a great value, combined with a professional-level focus on quality and service.
VIEW OUR SOLUTIONS BELOW, OR CONTACT ME FOR INFO:
Inside Sales Leader