About T2 Systems
T2 Systems is a company based in Indianapolis (United States) founded in 1994 by Mike Simmons was acquired by Verra Mobility in November 2021.. T2 Systems has raised $31 million across 2 funding rounds from investors including Verra Mobility, Thoma Bravo and Pamlico Capital. The company has 176 employees as of December 31, 2021. T2 Systems has completed 3 acquisitions, including Digital Payment Technologies, NuPark and ParkingSoft. T2 Systems offers products and services including Permits & Enforcement, PARCS, Mobile Payments, Pay Stations, and UPsafety PE Solution. T2 Systems operates in a competitive market with competitors including Arrive, Parkhub, FlashParking, Metropolis and REEF, among others.
- Headquarter Indianapolis, United States
- Employees 176 as on 31 Dec, 2021
- Founders Mike Simmons
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Sectors
Transportation, Automotive & Logistics
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Phone
*********
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Website
*********
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Social
*********
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$31 M (USD)
in 2 rounds
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Latest Funding Round
$28 M (USD), Series B
Sep 30, 2011
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Investors
Verra Mobility
& 3 more
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Employee Count
176
as on Dec 31, 2021
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Investments & Acquisitions
Digital Payment Technologies
& 2 more
- Acquired by
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Products & Services of T2 Systems
T2 Systems offers a comprehensive portfolio of products and services, including Permits & Enforcement, PARCS, Mobile Payments, Pay Stations, and UPsafety PE Solution. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Software for managing parking permits and enforcement processes.
System for gateless parking access and revenue management.
Platform for contactless parking fee payments via mobile.
Devices for handling parking payments and transactions.
Software for efficient parking enforcement in smaller operations.
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Funding Insights of T2 Systems
T2 Systems has successfully raised a total of $31M across 2 strategic funding rounds. The most recent funding activity was a Series B round of $28 million completed in September 2011. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 2
- Last Round Series B — $28.0M
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First Round
First Round
(25 Jun 2007)
- Investors Count 2
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Sep, 2011 | Amount | Series B - T2 Systems | Valuation | Pamlico Capital |
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| Jun, 2007 | Amount | Series A - T2 Systems | Valuation | Petra Capital Partners |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in T2 Systems
T2 Systems has secured backing from 4 investors, including venture fund investors. Prominent investors backing the company include Verra Mobility, Thoma Bravo and Pamlico Capital. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Pamlico Capital is engaged in private equity investments for growth companies.
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Founded Year | Domain | Location | |
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Multiple sectors are invested in by this private equity fund.
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Founded Year | Domain | Location | |
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Software and technology-enabled services companies are targeted for investment.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by T2 Systems
T2 Systems has strategically engaged in corporate development activities, having acquired 3 companies. Notable acquisitions include Digital Payment Technologies, NuPark and ParkingSoft. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Cloud-based parking management solutions using license plate recognition are provided.
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2013 | ||||
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Parking infrastructure solutions are provided for enterprises and businesses.
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2006 | ||||
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Provider of multi-space parking meters, management software, and online services
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1997 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - T2 Systems
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
T2 Systems Comparisons
Competitors of T2 Systems
T2 Systems operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Arrive, Parkhub, FlashParking, Metropolis and REEF, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Tech-enabled platform for parking and mobility management solutions is provided.
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| domain | founded_year | HQ Location |
Provider of comprehensive parking management solutions
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| domain | founded_year | HQ Location |
Parking management systems are delivered via SaaS-enabled hardware and software.
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| domain | founded_year | HQ Location |
End-to-end parking management solutions are provided via an AI-enabled platform.
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| domain | founded_year | HQ Location |
REEF is focused on connecting goods and services to local neighborhoods through digital solutions.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on T2 Systems
Frequently Asked Questions about T2 Systems
When was T2 Systems founded?
T2 Systems was founded in 1994 and raised its 1st funding round 13 years after it was founded.
Where is T2 Systems located?
T2 Systems is headquartered in Indianapolis, United States. It is registered at Indianapolis, Indiana, United States.
Who is the current CEO of T2 Systems?
Mike Simmons is the current CEO of T2 Systems. They have also founded this company.
Is T2 Systems a funded company?
T2 Systems is a funded company, having raised a total of $31M across 2 funding rounds to date. The company's 1st funding round was a Series A of $3M, raised on Jun 25, 2007.
How many employees does T2 Systems have?
As of Dec 31, 2021, the latest employee count at T2 Systems is 176.
What does T2 Systems do?
Founded in 1994 and headquartered in Indianapolis, United States, T2 Systems operates in the parking management sector. Software solutions such as PermitNow are offered for event parking, including concerts and sporting activities. T2 Flex is utilized to handle functions like permits, access cards, citations, towing, and contract parking. Services support organizations managing transient and residential parking operations.
Who are the top competitors of T2 Systems?
T2 Systems's top competitors include Arrive, Parkhub and Metropolis.
What products or services does T2 Systems offer?
T2 Systems offers Permits & Enforcement, PARCS, Mobile Payments, Pay Stations, and UPsafety PE Solution.
How many acquisitions has T2 Systems made?
T2 Systems has made 3 acquisitions, including Digital Payment Technologies, NuPark, and ParkingSoft.
Who are T2 Systems's investors?
T2 Systems has 4 investors. Key investors include Verra Mobility, Thoma Bravo, Pamlico Capital, and Petra Capital Partners.
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