Wayzata-Based MPS Is Raising $5.5m For IoT Parking Systems

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Wayzata-based Municipal Parking Services (MPS) is raising $5.5m with $275k closed according to this fresh SEC disclosure document.

The company’s Sentry Meter product is designed for streets, garages, lots and ramps to “revolutionize the parking experience” with customizable broadcasting, emergency alerts, targeted advertising, and POS integration — among other features.

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“We started with a parking meter but added so much more — high powered, always on, internet connected computers, tablets, servers, cameras, mobile applications, motion sensors, speakers and microphones, all wrapped into one, built to deliver an incredible customer experience for everyone! Our ultimate goal is to help people and communities become smarter, safer and more connected.”

Persons of interest from the disclosure include serial entrepreneur and investor Joe Caldwell & Travis Carter from US Internet — possible strategic investors given their ambitions underway rolling out broadband across the Twin Cities metro.

 

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