T2 Systems, based in Indianapolis, IN, is a leading provider of parking
management software to universities and municipalities. T2's software manages all aspects of parking, from issuance of permits, to parking facility access, to citations and collections. T2 employs a software as a service ("SaaS") business model with software sold as a subscription. Petra invested $3.0 million of preferred stock to help support organic growth
initiatives and later invested an additional $1.2 million to buyout a passive shareholder.