2014 TiE50 Company Profile

  
Company: LocoMobi, Inc.
Location: 1123 Industrial Road, Suite 200, San Carlos, California, USA - 94070
Website: http://www.locomobi.com
 

Overview:

LocoMobi, Inc. is the result of a recent merger between QuickPay (QP) and Nautical Technologies. 

QuickPay currently provides users a unified mobile payment application that works across all types of parking environments and scenarios. By integrating with a parking operator’s existing equipment, either through software-only integrations or via QuickPay’s proprietary gate kit, the company’s platform, QP QuickPay, empowers drivers to seamlessly enter and exit gated parking facilities, and to pay for parking virtually anywhere parking is provided (e.g. gated facilities, non-gated facilities and on-street). The process is fast and safe as drivers do not have to worry about having cash or running their credit cards through the system. QP QuickPay also gives drivers the ability to skip pay-station and cashier lines and proceed directly to an exit gate. The systems can also be set up to enable QP QuickPay users to exit via monthly-only gates, further speeding up time to exit. The entire parking transaction is handled by phone via the free QP QuickPay smartphone app, available for iPhone and Android, by SMS text, or by a simple phone call. QuickPay also offers parking managers a way to track and reward frequent parkers. Every time consumers use QP QuickPay, they can earn valuable points toward future discounts and free parking.

 Nautical Technologies was the very first to offer a cloud-based license plate recognition (LPR) system with a complete revenue engine that also provided a management system for virtual permitting systems, violation and citation management. The company also designed and implemented the first LPR-based system incorporating payment stations and barrier gates, which was integrated into a single cloud-based system. A garage using a Nautical Technologies LPR system knows every vehicle that enters and exits and links all payments to the vehicle’s license plate. For parking owners and operators, this is of immense value as they have full knowledge of and receive payment from every single parker, rather than losing an estimated 30% of the parking revenue due to errors and fraud. The revenue gains after deploying a Nautical Technologies LPR system can significantly increase the value of the parking asset. The company also designs and implements a complete suite of traditional parking systems. Nautical Technologies’ product offerings are unique in their level of comprehensiveness, innovation, and price: installations typically have twice the functionality at approximately half the price of competitive systems.
 The combined company will continue to support all existing partners and product lines. It will offer consumer-facing mobile payments through the QP QuickPay brand, which will continue to be open and integrate with diverse existing parking equipment and systems, and proprietary parking systems through the Nautical Technologies and soon LocoMobi brand. In addition, the company is developing solutions that integrate both technology suites to deliver new value for drivers as well as parking owners and operators. For drivers, the combination of QuickPay`s mobile technology and gate kit with Nautical Technologies’ product set leads to an ideal parking experience: a driver registers one time with the QP QuickPay app and enters his or her license plate and credit card. The driver then drives into a garage, LPR cameras recognize the vehicle and the gate opens automatically. When the driver is ready to leave, he or she drives to the exit gate, the LPR cameras recognize the car again, bill the credit card saved to the QP QuickPay account, the gates open and the driver exits--all in a matter of seconds. A similar system works in non-gated scenarios as well. For owners and operators, LPR transactions can now be linked to registered drivers, enabling customer knowledge and communications.

LocoMobi now has a full and ideal parking solution that we can sell through channels and directly to asset owners. By combining the best integrated parking systems with the best mobile payment technology, LocoMobi now has a unique position in the entire parking technology landscape and has compelling advantages over both pure-play mobile parking payments companies and traditional parking equipment providers. 
The combined company now has partnerships with most of the major parking operators in the U.S. and Canada, and is deployed in parking garages and lots, hotels, malls and theme parks and on-street in major cities throughout the U.S. and Canada. With a strong presence in North America, LocoMobi intends to expand globally with its current and newly established partners. The company also has solutions for garage-based guidance and detection, transit, tolling, and also all from the same core technology platform, which will expand us into strong adjacent markets.

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