MIAMI–(BUSINESS WIRE)–Cloudastructure, the award-winning cloud video surveillance provider, has signed an agreement to purchase smart parking company Visionful with closing expected by the end of January. The acquisition adds an exciting new license plate recognition and analytic component to Cloudastructure’s rapidly expanding cloud-based video surveillance platform.
Visionful offers a smart parking solution for transit providers, as well as commercial companies, hospitals, airports, universities and municipalities who are looking to better understand their parking usage and manage parking efficiency.
The solution provides a real-time dashboard of parking usage based on license plate recognition and database mapping. Using this dashboard, parking managers can bill more accurately for use as well as determine future parking needs. In addition, the solution informs drivers as to which parking deck has available space, reducing the need for endless parking spot searching and parking abandonment rates. Visionful’s real-time reporting dashboard includes video analytics of:
- Customer usage
- Occupancy rates of change
- Spot availability
- License Plate Recognition
Harmonious with Cloudastructure’s security platform, Visionful’s advanced License Plate Recognition features can be integrated with public safety APIs to alert security personnel to the presence of bad actors on their campuses. The feature provides a unique and vital differentiator between Cloudastructure’s award-winning video surveillance platform and that of competitors.
Cloudastructure CEO Rick Bentley will oversee the transition of Visionful’s technology while CTO Gregory Rayzman will handle the integration. Bentley commented, “Visionful’s smart parking solution is a leading technology in the parking management space and we are excited to add it to Cloudastructure’s award-winning platform. We want to extend a hearty welcome to Visionful clients and partners as well, and assure them of a swift and seamless transition to Cloudastructure. This acquisition enhances our award-winning AI-based security platform for our customers, and is a major step in developing our vision for a ground-breaking, comprehensive smart cities platform.”