Park Loyalty closes Series A funding led by Elephant; Introduces Board of Directors
The investment will accelerate Park Loyalty’s product innovation, team growth, and delivery of new features to customers.
MILWAUKEE, Wis. (Nov. 12, 2025) – Park Loyalty, a leading provider of omnichannel enforcement and violations management solutions for municipalities, universities, and private operators, today announced the close of its Series A funding round led by Elephant. The investment marks a significant milestone in the company’s growth journey and will accelerate the expansion of its product portfolio, services, and implementation teams to meet increasing market demand.
Elephant is a venture capital firm focused on the enterprise software, consumer internet, and mobile markets. With a proven track record and understanding of the parking and mobility market, Elephant stood out as a uniquely aligned partner for Park Loyalty’s long-term vision. Together, the partnership supports Park Loyalty’s commitment to helping parking agencies modernize enforcement and move toward data-driven, transparent, and community-oriented approaches that encourage compliance and improve mobility outcomes.
Unlike many funding stories, this round wasn’t about necessity, it was about opportunity. Park Loyalty was already on a strong growth trajectory and getting interest from multiple investors. The partnership with Elephant emerged as the clear choice to fuel the next phase of innovation and scale.
The funding will be used to accelerate the development of Park Loyalty’s Pro Solutions suite including Enforce Pro, Process Pro, Permit Pro, and newest addition, Rewards Pro, and to expand implementation capacity and customer support operations.
“This investment validates the hard work of our entire team,” said Sriram Somanchi, Founder and CTO of Park Loyalty. “It energizes us to continue driving innovation that aligns with customer objectives.”
Headquartered in Milwaukee, WI, Park Loyalty has rapidly become a trusted name in parking management software solutions. Over the past year, the company has expanded to 33 states and Canada, surpassed 1,000 enforcement subscriptions and now serves more than 100 customers across municipalities, private operators, transit authorities and universities. Its platform supports the processing of over four million citations annually. This year, Park Loyalty also introduced its Automated Enforcement Module, marking a major step in off-street and frictionless enforcement capabilities.
Marc Lucey, CEO of Park Loyalty, said: “The funding is more than capital, it’s a testament to the trust our customers and investors have placed in our vision. We’re building something that makes a real impact, and this partnership will help us move even faster.”
Introducing the Park Loyalty Board of Directors
As part of this next phase, Park Loyalty has also established its inaugural Board of Directors. The Board brings together Park Loyalty leadership with technology leaders whose expertise will help guide Park Loyalty through its continued growth and innovation journey. Together, they will play an instrumental role in shaping long-term strategy and supporting the company’s vision.
The Board includes: Sriram Somanchi, Founder & CTO of Park Loyalty (Chairman); Marc Lucey, CEO of Park Loyalty (Board Member); Jack Connolly, Partner at Elephant (Board Member); and Murali Yellepeddy (Board Member).
Sriram Somanchi, Founder & CTO of Park Loyalty – Chairman
Sriram Somanchi is an entrepreneur, innovator, technologist, and information technology veteran with a background in engineering. Sriram has been the founding member of XMLInsider as well as PocketMedi. He has architected the technology backbone for companies in sectors like parking, e-learning, publishing, and state and local governmental units. Sriram’s accomplishments include authoring patents and implementing mobile management systems and e-learning.
Sriram has supported processing, enforcement, and enterprise software applications for the last 27 years. Prior to founding Park Loyalty, he served in senior technology and leadership roles for Duncan Solutions, Conduent (then ACS/Xerox), and CivicSmart.
Marc Lucey, CEO of Park Loyalty – Board Member
Marc Lucey is a thought leader, an industry subject matter expert, and above all, a parking guy. Bringing a diverse industry tenure that spans virtually every aspect of delivering leading parking management systems, Marc has a discerning eye for rapidly understanding key program drivers and translating them into tactical plans to exceed client objectives. From enforcement to delinquent collections, Marc has emerged as one of the most versatile resources in the parking compliance arena.
Marc has been partnering with parking technology providers, municipalities, and operators for over 12 years and has built a career supporting many of the largest programs in the country. Prior to joining Park Loyalty, he served in an executive role for Duncan Solutions, leading the Parking & Mobility division.
Jack Connolly, Partner at Elephant – Board Member
Jack Connolly is a Partner at Elephant, a venture capital firm investing in high growth software businesses. Elephant partners with founders to help them scale and build market-leading platforms. Jack focuses on industry specific solutions and has a track record of working with software businesses servicing municipal governments. He is a career venture capitalist and based in Boston.
Murali Yellepeddy – Board Member
Murali Yellepeddy is a technology entrepreneur and strategic advisor with over two decades of experience designing, scaling, and optimizing enterprise-grade software platforms. As the Co-Founder and Chief Technology Officer of Trucker Tools, Murali played a pivotal role in transforming the logistics and freight-tech landscape through innovative, data-driven digital solutions. Under his technical leadership, Trucker Tools evolved into one of the most trusted cloud-based platforms in the trucking industry, supporting more than 1,000,000 downloads and over 200,000 active users. His work bridges technology execution with strategic business outcomes, empowering teams to translate complex engineering challenges into tangible growth and operational efficiency.
About Park Loyalty
Park Loyalty makes parking software simple. Its Pro Solutions platform delivers enforcement, processing, permitting, and rewards solutions for any type of parking agency. Park Loyalty is a leader in omnichannel enforcement, supporting operations through on-street patrolling officers, mobile LPR integration, and automated, frictionless parking facilities with citations issued as ticket-by-mail or e-citations, all seamlessly managed within the same platform.
With proven rapid deployment, a growing network of integration partners, and deep industry expertise, Park Loyalty ensures that no matter how agencies manage their parking, the platform can support them. By connecting frontline enforcement with back-office processing, permit management, and customer engagement, Park Loyalty helps agencies increase efficiency, strengthen compliance, and deliver measurable results for their communities. Visit Park Loyalty’s LinkedIn page.
About Elephant
Elephant is a venture capital firm focused on high-growth software, internet, and technology companies. Elephant partners with visionary entrepreneurs to help them scale and build market-leading solutions. Visit elephantvc.com.
