Jim Gibbs is one of 50 founders selected for Google for Startups program focused on high potential startups from Black entrepreneurs based in the U.S.
Pittsburgh, PA — September 21, 2021 — Meter Feeder today announced it was selected to join the second coho of the Google for Startups Black Founders Fund, a $10 million initiative designed for Black founders, who are building great companies yet are often locked out of access to the funding that is critical to their success.
Last year, Google for Startups gave 76 Black-led startups up to $100,000 in non-dilutive funding, helping them keep their doors open, pay their employees, and focus on building their businesses. With this second $5 million investment in the U.S. Black Founders Fund, 50 more founders across the United States will receive $100,000 in non-dilutive capital, meaning founders do not give up any ownership in their company in exchange for funding. The fund also includes technical support from tools and teams across Google, including as much as $120,000 in donated search Ads from Google.org and up to $100,000 in Google Cloud credits. Last year, founders who received awards went on to raise more than $50M in capital and 80% of recipients used the funding to create jobs.
Meter Feeder, a Pittsburgh-based tech start-up with the goal of keeping cities at the forefront of the newest smart parking technology, is one of a select few high potential startups that the Google for Staups team has selected for this year’s nationwide cohort.
“Meter Feeder applied to the second cohort of the Google for Staups Black Founders Fund in late 2020 in hopes of receiving additional funding to expand our business operations,” says Jim Gibbs, founder of Meter Feeder. “As a Black founder, we oen nd that there are extra hurdles to jump over when it comes to raising money. Google for Startups has taken a huge leap in providing non-dilutive capital to continue to expand the Meter Feeder team, further adapt to the future of autonomous parking, and develop new features within the app.”
“The Google for Startups Black Founders Fund embodies our mission of helping underrepresented founders grow their businesses. We are excited to continue the fund and contribute funding to Black founders, with no strings aached. Black founders currently receive less than 1 percent of total VC funding,” says Jewel Burks Solomon, Head of Google for Startups US. “We heard loud and clear from the 2020 fund recipients that Google for Startups and Goodie Nation have been crucial to their success not only through funding, but through community, mentorship, network connections and technical expertise.”
“Our advisors will be working with the founders to discuss business pain points, offer introductions to customers and investors and provide regular therapy sessions and forums to support recipients emotionally and professionally,” says Joey Womack, CEO of Goodie Nation.
Parking is no longer run by loose change and rusting meters, it’s connected with our phones, our cars, and our municipalities who monitor digital parking meters. At Meter Feeder, we remove the burden, fees, and frustration that surrounds parking. We put the power into your hands (or your phones or cars) to make sure you never get a late fee again. How? Well, we’ve built a way to pay for parking that is easier for citizens, cheaper for cities and even works with old-school meters.
“Paying for parking is often a painful part of our daily life that we ignore, but it doesn’t have to be that way. Meter Feeder intends to change that perspective and bring parking into the 21st century to meet consumer demands,” says Jim Gibbs, founder of Meter Feeder. “We make parking simple.”
ABOUT GOOGLE FOR STARTUPS
Google for Startups works to level the playing field for startup founders and communities to succeed by bringing the best of Google’s products, connections, and best practices to startups. Paired with a deep commitment to create diverse startup communities, many of our offerings are designed specically to provide underrepresented founders with access to resources and opportunities. We support startups everywhere to build something better. Because when startups succeed, we all succeed.
ABOUT METER FEEDER
Meter Feeder, a Pittsburgh-based tech startup, was founded in 2014 by Jim Gibbs. After completing Y Combinator’s W16 cohort, Meter Feeder set out on a mission to change the future of parking. Meter Feeder has raised over $2 million in seed and pre-seed funding, with the goal of keeping cities at the forefront of the newest smart parking technology. Meter Feeder has now been fully deployed in Pittsburgh and Cedar Rapids, as well as New Jersey Transit via Nexus Parking Systems. Visit www.meteeeder.com or follow us on social media (Twier, Facebook, Instagram, LinkedIn) for more information.