- General
- December 11, 2018
- 5 minutes read
Miami Based ParkJockey Gets Softbank Investment at $1 Billion Valuation
Miami based parking revenue and access control startup ParkJockey known for its platform that lets real estate owners or operators streamline…
Miami based parking revenue and access control startup ParkJockey known for its platform that lets real estate owners or operators streamline parking operations using smart software, hardware and data APIs has raised funding from Softbank reported to be in the hundreds of millions of dollars at a $1 billion valuation.
Also, ParkJockey and Abu Dhabi venture arm Mubadala Capital have entered into an agreement to acquire competitor Imperial Parking Corporation (“Impark”) amid an already closed acquisition of Citizens Parking Inc. (“Citizens”), a leading parking management operator in the U.S.
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| ParkJockey software
image : ParkJockey
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ParkJockey was founded in 2013 by former management consultants Umut Tekin and Ari Ojalvo who currently leads as CEO, Its the official parking partner of organizations including Ticketmaster, Hertz and the Miami Heat and also the parking software provider at large venues like the American Airlines Arena, the Rose Bowl and the US Bank Stadium.
Its app-based technology includes custom account management tools that help clients point out ways to improve revenue, decrease costs and find out opportunities to future-proof assets. “We are excited to partner with Impark and Citizens given their strong operating capabilities, complementary geographic reach and dedication to customer service.” ParkJockey CEO Ari Ojalvo said in a press release.
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| image : ParkJockey |
“This acquisition will create growth opportunities for our real estate partners, our clients and our employees as urban mobility and infrastructure develop in the coming years.” Ojalvo said. Citizens CEO James Hyman will now lead ParkJockey’s parking platform business across North America and Europe while Impark CEO Ty Stafford heads all its North American operations.
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