Parking Payment Startup QuickPay Raises $3.5M, Powerset Founder Barney Pell Becomes CEO
Summary
QuickPay, a startup that helps drivers find and pay for parking, has brought on a new CEO — Barney Pell, the founder of semantic search company Powerset (which was acquired by Microsoft in 2008 for a reported $100 million). So when a driver downloads the company’s mobile app, they can bring up a map showing parking lots that accept QuickPay payments. Pell says QuickPay is taking a fundamentally different approach compared to the other companies offering parking payment technology. Over time, Pell says the company could offer a more sophisticated approach to dynamic pricing, and more tools (such as coupons) that help parking lots promote themselves. As for the funding, it comes from Fontinalis Partners, Andreessen Horowitz, Advanced Technology Ventures, and angels including Accelerator Venture Partners, David Jeske, Alfred Mandel, Louis Monier, Matt Ocko, Lior Ron, Ofer Ronen, and Ben Smith IV.