ParkWhiz
E-parking service
From Wikipedia, the free encyclopedia
ParkWhiz is an e-parking service that allows users to book parking spaces before reaching their destinations. ParkWhiz headquarters is located in Chicago, Illinois.
 | |
Company type | Private |
|---|---|
| Industry | E-parking |
| Founded | 2006 |
| Founders | Aashish Dalal, Jon Thornton |
| Headquarters | |
Number of locations | Chicago New York City Boston Indianapolis |
Area served | United States |
Key people | Yona Shtern (CEO) |
| Products | Web and mobile e-parking applications |
Number of employees | 100[1] |
| Website | www |
Origins
ParkWhiz was founded in 2006 by Aashish Dalal and Jon Thornton.[2][3] The company CEO is Yona Shtern. ParkWhiz works with 4,000 parking facilities in over 50 major cities and 35 states.[4] Founders Dalal and Thornton conceived the ParkWhiz concept in 2004 after becoming frustrated with the problem of locating parking during baseball games.[5] While parking spaces were available at various parking facilities, there was no organized system for determining their location or their price.[5] ParkWhiz service allows users to locate and purchase parking spaces online and on mobile devices before reaching their destinations.[3] As of March 2019 ParkWhiz employs over 100 people in the United States, Israel and the Philippines.[1]
Services
ParkWhiz allows drivers to locate and purchase daily, monthly, and event-based parking through its web and mobile applications.[6] Users of the ParkWhiz service are able to compare prices, locations, and amenities.[7] After drivers select a spot and process their payment, they are given an electronic parking pass that can be printed or presented on a smartphone or tablet.[3][8]
In 2013, as part of its first growth beyond Chicago, ParkWhiz expanded its monthly parking feature to New York City,[2][9] offering approximately 200 locations.[2][9]
The company organized parking for the Super Bowl in 2010 and parked an estimated 30% of Super Bowl traffic in 2012.[4][10]
Partnerships and acquisitions
- In late 2015, ParkWhiz acquired BestParking.[11]
- A partnership with Ford was announced at the Detroit Auto Show in 2016, where a range of ParkWhiz services including that smart parking would be integrated into the FordPass app.[12]
- In 2018, ParkWhiz acquired CodiPark, a Tel Aviv-based company, to add drive up mobile payments to its platform.[13]
- Also in 2018, ParkWhiz paired with Groupon to offer ParkWhiz's services through the Groupon app.[14]
- ParkWhiz is a partner app in Concur's app center, allowing Concur users and business travellers to mail e-receipts from ParkWhiz bookings.[15]
- ParkWhiz is the official parking provider for StubHub. Customers who buy tickets on StubHub are offered parking through ParkWhiz.[16][17]
- ParkWhiz is an official partner of Barclays Center in Brooklyn, NY, with dasherboard ads and in-game promotions running during select New York Islanders hockey games.[18]
- ParkWhiz is the official parking app of the Boston Red Sox.[19]
- In late 2018, ParkWhiz began a partnership with GasBuddy on their app, connected to their "Pay With Gasbuddy" service.[20][21]
- Also in 2018, ParkWhiz partnered with TomTom to provide integrated parking information for TomTom mapping services.[22]
Financial information
The company was a bootstrapped venture until December 2012 when it raised $2 million in Series A funding led by Hyde Park Venture Partners.[2][3] Other investors in the round included: Alexis Ohanian of Reddit, Ira Weiss, Henry J. Feinberg, and Amicus Capital.[23] ParkWhiz reported that the funding was used to broaden the company's reach and prepare for its first iOS and Android app releases.[3][4][7] In July 2014, ParkWhiz raised $10 million in a Series B round of funding led by venture fund Jump Capital. The Series B round has allowed ParkWhiz to improve its mobile experience, expand its offerings and hire additional employees.[24] At the End of 2015, ParkWhiz raised $24 million in a Series C round of funding led by Baird Capital with participation by growth capital investor Beringea and existing investor Jump Capital.[11]