🚗 Issue #42: A Parking Revolution
Emerging parking technology, alternative pre-mRNA splicing, and new Claremont financings
💬 Welcome to issue #42 of Between the Lines
Enough about Twitter. Let’s talk about…..parking?
Back in 2017, INRIX published a major study combining data from 100,000 locations, 8,700 cities, and 18,000 drivers that found that on average, U.S. drivers spend 17 hours per year searching for parking at a cost of $345 per driver in wasted time, fuel and emissions. The study also revealed that New York drivers endure the worst of these challenges, closely followed by LA and SF.
Enter companies like Ticketech, the parking technology leader in NYC that was just acquired by FLASH. ⬇️
~ Josh & Miles
👤 Community Spotlight: Diego Cuenca
Diego Cuenca is a Claremont alumnus and the current CEO of Ticketech. Prior to Ticketech, Diego occupied different operations, sales, and investment roles at ALPS Advisory and Bernstein Wealth Management. He has also had experience in public accounting at KPMG, software at Raptor Technologies, and early-stage venture capital with FinTech Collective. He spent his childhood working for his brother’s fast-food franchise and his family’s real estate companies.
Yesterday, FLASH, the global leader in cloud parking software and mobility transformation, announced the acquisition of Ticketech, the parking technology leader in NYC. The acquisition expands the network of customers running FLASH's Mobility Hub Operating System and connects New York City's $22 billion dollar parking market to the emerging mobility marketplace.
Ticketech has powered New York City’s attended valet operations since revolutionizing parking revenue control in the 1970s. Ticketech enables over 700 parking locations and processes over 20 million transactions per year for local parking operators, regional and national enterprise operators, and real estate owners. Their digital platform and automated vehicle recognition system allow for a seamless, mobile-first parking experience. They also maintain key integrations and partnerships with accounting systems, payment providers, demand aggregators, and other key stakeholders.
"Ticketech's mission is to empower parking providers and we are excited to continue this mission. From that perspective it's business as usual - we put our customers and partners first. From digital payments and camera-based machine vision to the proliferation of connected and electric vehicles, we see this investment as an opportunity to strategically position our operator partners to capitalize on these technologies - delighting their parkers, while lowering overhead costs and increasing revenue. We're looking to do more, better, and faster," shared Diego Cuenca, CEO of Ticketech.
Congrats to Diego and the team! 🎉👇
🚨Claremonster Call-Out: Osman Kibar
Dr. Osman Kibar is a Pomona alumnus, serial entrepreneur, and inventor with several successful start-ups under his belt. He was the Scientific Founder of Genoptix (an oncology diagnostics company), which went public in 2007 (NASDAQ: GXDX) and was later acquired by Novartis in 2011. Prior to founding Genoptix, Dr. Kibar was also a Co-Founder of E-Tenna, whose assets relating to wireless antennas were acquired by Titan, and assets relating to thermal management of microprocessors were acquired by Intel.
Over 15 years ago, he also founded Biosplice Therapeutics (previously known as Samumed) where he served as the CEO for 14 years and now serves as the Executive Chairman. Biosplice is developing first-in-class, small-molecule therapeutics based on the pioneering science of alternative pre-mRNA splicing. Its mission is to restore health by delivering first-in-class therapies that harness alternative splicing.
💼 Who’s Hiring?:
MediaWallah is one of the leaders of Identity Resolution provision and is helping engineer the best identity for businesses. Companies trust MediaWallah to provide agile privacy-first data capabilities to ensure that their identity data is kept safe while also delivering maximum value even as market dynamics evolve over time. Pitzer alumnus Nancy Marzouk is the founder and CEO, and she’s looking for Claremont talent interested in sales, analytics, and data privacy.
AgVend is the leading provider of digital engagement software to serve the producer of tomorrow. Their white-labeled information and commerce portals are designed to strengthen the relationship between the ag distribution channel and their grower customers. Co-Founded in 2017 by Claremont alumnus Alexander Reichert, Agvend operates a distributed organization model with local coverage in all major US and Canadian ag regions. Today, they count the most innovative national, cooperative, and independent ag retailers as their partners, and they’re looking for some Claremont folks to join the team (agricultural experience isn’t required nor is location):
Make sure to check out the other 5,000+ open jobs at 400+ Claremont-affiliated companies here on our Storyboard. Plus, make sure to create a profile and enter your preferences to get alerted to new job postings relevant to you, be they the 750+ remote jobs, 180+ internships, or 30+ part-time positions available. We’ve published research that shows that Claremont-founded companies that disproportionately hire Claremont talent outperform — so pay attention Claremonsters!
As always, if any of these roles catch your eye 👀 , apply and mention Between the Lines. Or if you are an employer and are looking to hire tip-top Claremont talent, fill out this form to have your jobs featured.
🗣️ Conversations on the Interwebz:
This week’s top listen 🔥
“What we need to come to is a world where there is no such thing as waste. Where waste is feedstock or the way you make everything else.” LanzaTech CEO Jennifer Holmgren (HMC) talks with Matt Myers about what it’s like being a woman in petrochemicals, the circular economy, and how LanzaTech is bending the carbon curve.
Everything else you need to know….📖
Rockerbox, founded by Patrick O’Toole (HMC) almost a decade ago, works with the leading DTC and eCommerce companies to help them best understand and optimize their marketing mix. They just recently announced an exciting new integration with Pinterest.
Keck graduates are in for a treat this May. CGU graduate and Founder and CEO of 54gene, Dr. Abasi Ene-Obong, will be giving the keynote address. 54gene is a health technology platform company improving diagnostic and treatment outcomes within Africa and the global community.
Congratulations to Sam Corcos (CMC) and Levels on their fresh Series A raise! Operator investors like Andrea Funsten (Basecamp Fund), Ben Gilbert and David Rosenthal (Acquired Podcast), Lenny Rachitsky and the Airbnb Alumni Syndicate, and a16z led the round. Additionally, they received investments from 1,400+ members — hitting the crowdfunding limit of $5M in < 6 hours. 🎉
Explore the exciting new campus plans for CMC. Trustee and alumnus George Roberts’ recent gift will allow CMC to realize its Master Plan and double its campus footprint to over 150 acres.
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🍽️ BTL Snacks:
📊 Something Better Than The Real Thing….. The still-nascent market of synthetic and artificially manufactured data is having its moment and revolutionizing how developers work. Startups in the space have also started picking up increasing amounts of VC funding, including Gretel.ai (co-founded by PO alumnus Laszlo Bock) who scooped up a $50M Series B.
⚕️Chinese Medicine Into The Present….. Claremont alumnus Stephanie Tan, the founder of NOOCI, is on a mission to bring Traditional Chinese Medicine into the present. With NOOCI’s range of plant-based supplements steeped in centuries-old herbal wisdom, Tan is making TCM accessible to a new generation of women living fast-paced modern lifestyles, who are seeking balance and optimal health.
⌚ Solving The Metabolic Health Crisis….. 34M adults in the US have diabetes and another 88M have pre-diabetes, yet 90% don’t even know it. Levels, founded by Sam Corcos (CMC), is a metabolic health software company solving this crisis. They just rounded out a $38M Series A.
📈 The Faulty Anti-Buyback Argument….. Pomona Economic Professor, Gary Smith, breaks down why he sees a glaring and obvious fallacy in Wahington’s anti-buyback argument. “The bogus argument that share repurchases are a quick way to boost a company’s stock price is really just an easy and cynical way to manipulate public opinion.”
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