Vista Equity Partners, a global investment firm focused on enterprise software, data and technology-enabled businesses, has led a $250 million strategic investment in Flash, a provider of cloud parking software and mobility transformation. L Catterton, the existing lead investor, along with prior investors and management join Vista in the round.
Flash is a cloud-native parking technology platform that offers digital and physical infrastructure. The firm’s operating system allows its clients to understand mobility issues like congestion, lack of visibility into supply and demand and fragmented consumer experiences.
The firm’s services are delivered to over 10,000 customers across Canada and the United States with 11 million parkers a month and over $1 billion in yearly transactions.The investment is intended to expand Flash’s mobility operating service, payments platform, digital services and further invest in the firm’s talent.
“FLASH’s visionary team is bringing best in class software and services to the parking ecosystem,” said Aaron Gupta, senior vice president at Vista. “We see massive growth opportunities for FLASH based on market dynamics such as accelerating digitization and the proliferation of connected and electric vehicles, and we believe they are strongly positioned to capitalize on the shift towards a more efficient and sustainable future for mobility.”
Evercore acted as the financial advisor to Flash on the transaction.