ParLevel Systems Receives $2 Million in Funding

images-1ParLevel Systems, based at Geekdom in San Antonio, has raised a little more than $2 million of $2.5 million in funding it’s seeking, according to filing with the Securities and Exchange Commission.

The company, which was founded in 2012 by Walter Teele and Luis Pablo-Gonzalez, seeks to make vending machines smarter by hooking them up to the Internet and monitoring them remotely. Nine investors have participated in its funding so far. The company is still seeking an additional $416,319.

ParLevel is dealing in a marketplace known as the Internet of Things, which envisions a future in which all kinds of everyday objects from refrigerators to cars are hooked up to the Internet and interact with other devices.

ParLevel was one of 12 startups that participated in the TechStar Cloud accelerator program in 2013. The company received $18,000 in seed funding and an optional $100,000 in a debt note. It also received $25,000 as one of the first recipients of the Geekdom Fund.

The following video was produced by Key Ideas for Geekdom and its “Geek of the Week” series on Geekdom members.

Meet the Geek – Parlevel from Key Ideas on Vimeo.

Full disclosure: Geekdom is a sponsor of Silicon Hills News


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