TiEcon 2014 Announces LocoMobi Inc. as a Winner for its TiE50 Awards Program

May 17, 2014 – LocoMobi, San Carlos, CA, USA

LocoMobi Inc.  is excited to announce that it has been selected as a winner for the prestigious 2014 TiE50 Awards Program. Winners were announced on Friday, May 16th at the organization’s annual entrepreneurial conference, TiEcon. Returning for the sixth year in a row, this year’s TiE50 was open to all technology companies worldwide.

“We are delighted and honored to be recognized by the prestigious TiE 50 Awards Program as the top startup and to be selected from thousands of competitors across the world by this distinguished panel of judges,” said LocoMobi Co-Founder and CEO Grant Furlane.”

“As a company bringing big ideas and entrepreneurial spirit to the global problems in transportation, we are excited to share our innovative technology with the like-minded audience at TiEcon 2014,” said Barney Pell, LocoMobi Co-Founder, Chairman and Chief Strategy Officer.”

“In the six short years since inception, the TiE 50 program has become a global brand that attracts thousands of companies worldwide for this recognition,” said Venktesh Shukla, president of TiE, Silicon Valley. “It is unique in terms of rigor of selection and the broad scope of companies that it reviews for this award and is one of TiE Silicon Valley’s most successful programs. It is also worth mentioning that this is the only awards recognition in technology to be held by a large global non-profit organization.”

Barney Pell and Grant Furlane after receiving a Tie50 Top Startup award.

To determine the winner, a panel of experts screens the companies and creates a list of the “2014 TiE50 Top Startups.” This list is then reviewed further by a screening committee of deep domain experts. About 100 of the best of the breed companies are selected to the elite TiE50 Finalist pool. Finally, this pool of TiE50 Finalists are judged by a panel of highly accomplished team made up of serial entrepreneurs, venture capitalists, angel investors, CEOs and well-rounded technology experts, to determine finalists and winners. Companies will be evaluated on three parameters: Business Model, IP Value and Leadership team.

At TiEcon 2014, 20 of the top startups from each of the five segments were chosen to pitch their ideas, and winners were announced on stage that evening.

“This year the TiE50 Awards Program screened more than 2800 companies from 27 countries. The finalist pool was represented by early through late stage companies. A star attraction of the conference was the TiE50 Finalist presentations. Audiences were treated to great ideas and amazing technologies” said Ram K. Reddy, the program chair.”

The TiE50 track record since its inception in May 2009 shows that 94% of the winners and finalists have been funded, attracting Billions in investments. Many of these companies have been acquired, merged or gone public.

For further details on the TiE50, visit www.tie50.org.

About TiEcon:

TiEcon is the world’s largest conference for entrepreneurs and intrapreneurs with loyal participation from top technology companies, leading venture capital firms, and global service providers. TiEcon 2012 attracted 3,000+ attendees from across the world – including CEOs of established companies to first-time entrepreneurs creating new companies, to leading investment professionals and corporate executives. TiEcon was listed by Worth Magazine in their September 2011 issue to be among the 10 Best Conferences for Ideas and Entrepreneurship along with TED and the World Economic Forum. For more information on TiEcon, visit http://www.tiecon.org/.

About TiE:

TiE is a global not-for-profit organization fostering entrepreneurship through mentoring, education, and networking. We consider entrepreneurship to be the single most powerful instrument to advance global prosperity. Our greatest strength is our network of over 60 chapters in 17 countries with a worldwide membership exceeding 14,000 that includes successful entrepreneurs, venture capitalists, corporate executives, and aspiring entrepreneurs. For more information on TiE, visit www.tie.org.

About LocoMobi:

LocoMobi, Inc. the result of a recent merger between QuickPay (QP) and Nautical Technologies to reinvent parking and transportation technology in the era of cloud, mobile, low-cost hardware and Internet of Things.   QuickPay 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 entersand 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 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 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.

Privately-held LocoMobi Inc. is based in San Francisco and Toronto and backed by successful investors and technology leaders, including A16Z Seed, Advanced Technology Ventures, Ecomobilite Ventures, IncWell and Fontinalis Partners. Co-founded by Ford Motor Company Executive Chairman Bill Ford, Fontinalis Partners invests in technology companies improving next-generation mobility.