#United States #Denver #Smart Mobility #Modii Inc. #EVP

Modii Inc. Secures Successful Capital Raise for Smart Mobility Solutions

Modii Inc., a pioneering company in the smart mobility sector located in the U.S., proudly announced the completion of its seed funding round, spearheaded by EVP, a venture firm based in Australia. This achievement marks a significant step in the company's journey towards transforming parking and mobility infrastructure across the United States.

A Growing Demand for Smart Mobility Solutions

With cities, universities, and parking operators rapidly adopting Modii's cloud-based Software as a Service (SaaS) platform, the demand for smarter mobility integration is more evident than ever. Modii’s platform centralizes data analytics, allowing entities to optimize the usage of parking spaces and improve mobility infrastructure efficiently. The solution aggregates real-time data on parking space utilization, empowering operators with insights that refine decision-making processes and elevate user experiences.

Currently, Modii manages over one million parking spaces, serving prominent clients such as host cities for the upcoming 2026 FIFA World Cup and several high-traffic urban centers. Additionally, it collaborates with notable universities, including half of the top ten largest institutions by daily attendance in the U.S. The real-time features of Modii's systems can be explored at their website, Modii.co/spaces.

Allocation of Raised Funds

The capital secured through this funding round will primarily be utilized to bolster operations and enhance product development. Key areas of investment include strengthening the engineering team and expanding the customer success departments in vital U.S. markets.

Mark Frumar, the CEO of Modii, expressed, "This capital raise validates both our vision and execution. We are now poised to scale innovations that directly enhance mobility experiences and infrastructure across communities in the U.S."

In conjunction with this investment, Mark Velik from EVP will join Modii's Board, reflecting EVP’s confidence in Modii’s potential in addressing the critical demands of modern urban mobility.

Modii's Impact in the Industry

Modii is committed to driving the evolution of smart parking and mobility solutions that foster the creation of more intelligent, greener, and safer urban environments. Their data-driven approach provides actionable insights that facilitate decision-making related to parking operations, ultimately benefitting communities by enhancing accessibility, reducing congestion, and lowering emissions.

A recent two-year research partnership with the Department of Civil Engineering at The University of Texas at Arlington evaluated the effectiveness of Modii's platform. Supported by a grant from the North Central Texas Council of Governments, the assessment found that Modii's systems lead to:

• - An average revenue increase of 8.5% in targeted parking zones.
• - A substantial reduction in parking violations, by up to 60%, fostering better driver behaviors and self-regulation.
• - Lowered enforcement costs through informed analyses of parking trends and focused enforcement strategies.
• - Strategic improvements in parking policies and operations grounded in concrete data.

For more information about Modii and its mission to reshape the landscape of smart mobility, please visit their official website.

About EVP

EVP is an early-stage venture capital firm focusing primarily on B2B software companies, holding over $250 million in assets across a diverse portfolio of more than 40 software enterprises. Based in Sydney, Australia, EVP invests exclusively in B2B SaaS and marketplace businesses, with notable firms including Ignition, Deputy, and Shippit within its portfolio. More details about EVP can be found at evp.com.au.