Let’s talk about parking. Not the kind where you’re circling for 12 minutes, dodging scooters and existential dread. I mean the trillion-dollar urban mobility mess most cities haven’t solved, and where one startup just punched through the noise.
Modii Inc., born in 2015 and recently rebranded from Spot Parking, isn’t just another SaaS player chasing municipal contracts. It’s a Denver-based disruptor engineering the digital spine of future cities. And now, they’ve got fresh fuel: a just-closed seed round led by Australian VC powerhouse Equity Venture Partners (EVP), announced June 9, 2025. Translation: Modii’s no longer quietly mapping the mobility grid, they’re scaling the whole thing.
This isn’t VC as usual. EVP isn’t just cutting checks, they’re bringing strategic artillery. EVP Principal Mark Velik joins Modii’s board, flanking a leadership crew with teeth: CEO Mark Frumar, who stepped in August 2024 to drive the company’s growth playbook, and CFO Oliver D. Lewis, balancing precision finance with startup fire. Board members Tim Howard (Colorado) and Brook Adcock (Sydney) bring global lenses to a U.S.-rooted problem, and a global market.
Modii’s platform manages over a million parking spaces. That’s not a cute pilot or sandbox rollout. That’s cities, stadiums, universities, real infrastructure, real stakes. Half of the 10 largest U.S. universities use it. Multiple FIFA World Cup 2026 host cities are already dialed in. And in West Hartford, Connecticut, Modii’s tech dropped enforcement costs by 15% while building a centralized mobility dashboard that speaks fluent municipal operations.
Their platform is all signal, no noise, AI-driven analytics, real-time data, machine-learned demand forecasting, and city-wide integrations that don’t just observe trends, they predict them. In a joint two-year study with the University of Texas at Arlington, they helped increase revenue in monitored zones by 8.5%, cut violations by 60%, and dropped enforcement costs by 20%. That’s not a product feature. That’s urban evolution.
With this new capital, Modii’s scaling operations into 15 new cities, growing engineering headcount by 30%, and doubling customer success teams by early 2026. From IoT sensor rollouts to carbon dashboarding to dynamic pricing powered by reinforcement learning, Modii’s platform isn’t just adaptive, it’s anticipatory.
This isn’t a story about a parking startup. This is about infrastructure intelligence. About cities finally using data like private markets do, proactively, not reactively. About a company that went from ‘interesting pilot’ to ‘critical platform’ without needing hype as a crutch.
