Short Parking Stories
ParkHub Announces $13 Million Series B Funding Led by Arrowroot Capital
ParkHub announced it has completed its Series B financing.
Led by Santa Monica-based Arrowroot Capital, a growth equity firm specializing in B2B software, the investment will enable ParkHub to further establish market leadership and continue development of its growing suite of software solutions for a wide array of event-based facilities and beyond.
The funding is the first institutional capital for the company, validating the vision supported by Jerry Jones, Bruce Williams and Van Taylor, among ParkHub’s angel investors. As part of the transaction, Kareem El Sawy, Partner at Arrowroot Capital, will be joining the board.
“We are thrilled to have gained Arrowroot’s investment and support,” said George Baker Sr., Founder and CEO of ParkHub. “Over the past few years, our team has worked tirelessly to attract major accounts, form strategic partnerships, and refine our product offering while maturing as a service provider and company. This partnership will undoubtedly accelerate our growth, and we feel privileged to work closely with Arrowroot’s team of software experts.”
“ParkHub has positioned itself squarely within the broader mobility movement, seeing an attractive opportunity to build a platform that connects across transportation, commerce, asset management, and smart cities in general,” said Kareem El Sawy, Partner at Arrowroot Capital. “We are excited to partner with George and his team to scale their offerings and services in this evolving sector.”
ParkHub’s subscription-based solutions help parking professionals improve customer experience and drive revenue with streamlined operations and real-time insight. The company’s customers include premier professional sports teams and entertainment clients and the technology integrates with major parking and ticketing providers, such as SpotHero, Parkmobile, ParkWhiz, Ticketmaster, and Tickets.com. The product suite includes Prime, a mobile point-of-sale solution; Portal, a business intelligence system; Pulse, a multi-directional occupancy sensor; and ParkHub.io, a parking inventory and data distribution system.
Over the past year, ParkHub has made significant strides increasing its foothold and has more than doubled its client base. The company executed a multi-year agreement with Live Nation, expanded on a growing list of venue and university partners, and began to penetrate the State and National Park verticals. In January 2019, ParkHub acquired the mobile point-of-sale division of SpotHero and formed a long-term partnership designed to improve the overall consumer parking experience.
ParkHub manages over 1 million parking spots and has parked and digitally transcribed over 18 million vehicles to date.
San Diego International Airport Strikes Parksmart Gold
As part of its successful pursuit of Parksmart Gold certification, the San Diego Regional Airport Authority worked with the design team for the Terminal 2 Parking Plaza to integrate design elements that not only promoted sustainable parking, but also elevated the user experience for travelers.
The Plaza’s innovative features include expansive lightwells that bring natural light into the structure’s large footprint and state-of-the-art parking guidance and revenue control systems that elevate the user experience while decreasing emissions. EV charging stations, preferred parking for clean air vehicles and easy access to bicycle lockers, a bike sharing station and bus stops also rewards those who take steps of their own to protect the environment.
Signage in the facility outlines many of the facility’s sustainable features, including its stormwater system, which is capable of harvesting up to 2,000,000 gallons of stormwater annually.
Watry Design, Inc. managed the Parking Plaza’s successful pursuit of Parksmart Gold. To see the views and find out more about the project, visit watrydesign.com.
FlashParking’s Enterprise Platform to Power Parkway Corporation’s Garage Portfolio
Parkway and FlashParking announce the parking industry’s first enterprise-wide partnership through which FlashParking has become the exclusive parking technology provider for Parkway Corporation’s owned garage portfolio. By standardizing on FlashParking’s enterprise platform, Parkway will improve customer experience through consistent operations and analytics across their portfolio. The company will leverage FlashParking’s real-time, cloud-based intelligence to help ease urban congestion in its operational markets, positioning the companies as leaders in the transition to integrated, mobility-as-a-service [MaaS] technologies and services.
Over the next six months, FlashParking’s operations team will deploy hundreds of entry/exit and pay-on-foot kiosks replacing Parkway’s current PARCS equipment from legacy providers. FlashParking’s proven direct installation model ensures that installations stay on schedule and budget – while ensuring consistent quality and standardized on-boarding processes without disrupting operations.
Within six months, Parkway’s leadership will have a 360-degree, real-time holistic view of all their owned parking assets. Access to real-time metrics—like supply, revenue, transactions, occupancy, and more—will allow them to proactively make better operational decisions on both a site and portfolio-wide level. Parkway will also capitalize on FlashParking’s future-ready system that can expand and support new capabilities as technology and customer demands evolve. Parkway’s customers will experience a high-quality, frictionless parking experience with FlashParking’s FlashBeacon technology.
“As a business who has the ability to influence urban mobility significantly, it was imperative for us to work with a technology partner that could help us innovate to solve the growing congestion issues facing urban populations,” said Robert Zuritsky, CEO of Parkway Corporation and incoming Board Chairman of the National Parking Association (NPA). “Partnering with FlashParking at an enterprise-level will allow cities, like our hometown of Philadelphia, to benefit from the real-time data and business intelligence that can help win the war on congestion.”
“We are leading the transition to the future of parking which is a key element in the urban mobility industry, a concept which Parkway’s CEO, Robert Zuritsky, keenly understands. Zuritsky’s strategic decision to engage in an enterprise-wide technology solution will help Parkway not only achieve significant cost-savings and efficiencies, but it will further position the company as a leader in the urban mobility landscape,” said Juan Rodriguez, CEO of FlashParking. “FlashParking and Parkway, two American companies, working together will deliver an ecosystem of future-ready mobility solutions that will evolve with technologies like driverless cars, ride-share services, and frictionless access to better serve urban communities.”
IDeaS Enables Raleigh-Durham International Airport to Transform its Parking Business
With passenger numbers exceeding 12.8 million in 2018, Raleigh-Durham International Airport (RDU) is the primary anchor for the popular Research Triangle destination of North Carolina. As the next step in its Parking Transformation Program, the Raleigh-Durham Airport Authority has partnered with IDeaS Revenue Solutions, the global leader in revenue management, to create a better parking experience and optimize space utilization.
The partnership aims to enhance RDU guests’ parking experience and returns from the airport’s 18,830 parking spaces—the largest source of revenue for the airport. IDeaS Car Park Revenue Management System (RMS) is a cloud-based forecasting and pricing solution that uses advanced SAS® analytics, artificial intelligence and deep machine-learning to deliver optimal demand-based, dynamic pricing decisions fueled by a 365-day future view of parking demand.
• Focus on passenger experience – RDU aims to further transform its customers’ parking experiences by changing the dialogue around parking to one of added value, ease and economy. IDeaS Car Park RMS is a complement to the ParkRDU parking reservation system it soft-launched in mid-2018 and will enable RDU to sell the right product, to the right customer, at the right price, at the right time.
• Airport parking in a sharing economy – It’s no secret one of the biggest challenges facing airport parking—including at RDU—is competition. To effectively compete, RDU aims to address the experience, convenience and value of parking over other modes of transportation. It is seeking to be competitively affordable for ParkRDU consumers.
• A partner they can trust – Mindful of potential pitfalls when implementing new technology, RDU identified IDeaS Revenue Solutions as the right business partner because of its 30 years of revenue management experience—including an extensive list of airport parking clients—its industry-leading analytics and robust dynamic pricing tools, and its integrations with RDU’s other parking suppliers.
Michael Landguth, president and CEO of Raleigh-Durham Airport Authority, said: “IDeaS has the technology and expertise necessary to help us make informed decisions, shaping more effective marketing strategies, sales programs and overall airport parking revenue management. We are fortunate to have a renowned data-analytics partner right here in the Research Triangle.”