Pamlico Backs T2 Systems with $28M

Pamlico Capital led a $28 million round for T2 Systems, a provider of a software-as-a-service for parking management. The company’s management team also contributed to the round. T2 was formed in 1994. Its chief executive, Mike Simmons, will retain “significant ownership” and will continue to manage the company in partnership with Pamlico and the existing senior management team, the company said in a written release. Specific details of the funding were not released.

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