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
Locked
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Social
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Annual Revenue
Not available
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Net Profit
Not available
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EBITDA
Not available
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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.
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.
People of T2 Systems
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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.
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.
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Pamlico Capital is engaged in private equity investments for growth companies.
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Multiple sectors are invested in by this private equity fund.
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Software and technology-enabled services companies are targeted for investment.
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Investor details for T2 Systems
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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.
Investment portfolio details for T2 Systems
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- Transaction dates
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| 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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Parking infrastructure solutions are provided for enterprises and businesses.
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Provider of multi-space parking meters, management software, and online services
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Locked | Locked | 1997 | Locked |
Complete acquisition details for T2 Systems
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Financial Statements - T2 Systems
Detailed financials for T2 Systems
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T2 Systems Comparisons
Peer comparison for T2 Systems
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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.
| Company Name | Domain | Founded year | HQ Location | Description |
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Tech-enabled platform for parking and mobility management solutions is provided.
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Provider of comprehensive parking management solutions
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Parking management systems are delivered via SaaS-enabled hardware and software.
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End-to-end parking management solutions are provided via an AI-enabled platform.
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REEF is focused on connecting goods and services to local neighborhoods through digital solutions.
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Detailed competitors of T2 Systems
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Latest news on T2 Systems
Complete news archive for T2 Systems
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Frequently Asked Questions about T2 Systems
T2 Systems was founded in 1994 and raised its 1st funding round 13 years after it was founded.
T2 Systems is headquartered in Indianapolis, United States. It is registered at Indianapolis, Indiana, United States.
Mike Simmons is the current CEO of T2 Systems. They have also founded this company.
T2 Systems is a funded company, having raised a total of $31M across 2 funding rounds to date.
As of Dec 31, 2021, the latest employee count at T2 Systems is 176.
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.
T2 Systems's top competitors include Arrive, Parkhub and Metropolis.
T2 Systems offers Permits & Enforcement, PARCS, Mobile Payments, Pay Stations, and UPsafety PE Solution.
T2 Systems has made 3 acquisitions, including Digital Payment Technologies, NuPark, and ParkingSoft.
T2 Systems has 4 investors. Key investors include Verra Mobility, Thoma Bravo, Pamlico Capital, and Petra Capital Partners.