ParkWhiz explained

ParkWhiz
Type:Private
Industry:E-parking
Founders:Aashish Dalal, Jon Thornton
Locations:Chicago
New York City
Boston
Indianapolis
Area Served:United States
Key People:Yona Shtern (CEO)
Products:Web and mobile e-parking applications
Num Employees:100

ParkWhiz is an e-parking service that allows users to book parking spaces before reaching their destinations. ParkWhiz headquarters is located in Chicago, Illinois.

Origins

ParkWhiz was founded in 2006 by Aashish Dalal and Jon Thornton.[1] [2] The company CEO is Yona Shtern. ParkWhiz works with 4,000 parking facilities in over 50 major cities and 35 states.[3] Founders Dalal and Thornton conceived the ParkWhiz concept in 2004 after becoming frustrated with the problem of locating parking during baseball games.[4] While parking spaces were available at various parking facilities, there was no organized system for determining their location or their price. ParkWhiz service allows users to locate and purchase parking spaces online and on mobile devices before reaching their destinations. As of March 2019 ParkWhiz employs over 100 people in the United States, Israel and the Philippines.[5]

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. 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.[7]

In 2013, as part of its first growth beyond Chicago, ParkWhiz expanded its monthly parking feature to New York City,[8] offering approximately 200 locations.

The company organized parking for the Super Bowl in 2010 and parked an estimated 30% of Super Bowl traffic in 2012.[9]

Partnerships and acquisitions

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. Other investors in the round included: Alexis Ohanian of Reddit, Ira Weiss, Henry J. Feinberg, and Amicus Capital.[22] ParkWhiz reported that the funding was used to broaden the company's reach and prepare for its first iOS and Android app releases.[23] 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.

External links

Notes and References

  1. Web site: Wong. Wailin . ParkWhiz adds monthly parking in N.Y. to its booking menu. 6 October 2013. Chicago Tribune. 12 June 2013.
  2. Web site: Grant. Rebecca. Cut down on parking rage with ParkWhiz, reserve spots in advance. 6 October 2013. VentureBeat. 19 December 2012.
  3. Web site: Chowdhry. Amit. How ParkWhiz Is Changing The Parking Industry. 6 October 2013. Forbes. 31 July 2013.
  4. Web site: Petruccelli. Justin. Lots of Opportunities ParkWhiz puts a new spin on an old industry.. 6 October 2013. Entrepreneur. 27 March 2008.
  5. Web site: Davis . Katharine . ParkWhiz Rebrands as it Grows its B2B Service . ChicagoInno . 7 January 2019.
  6. Web site: Wasserman. Todd. This App Will Let New Yorkers Find a Parking Spot. 6 October 2013. Mashable. 12 June 2013.
  7. Web site: Alseyer. Jennifer. Review: Digital Parking Tools. 6 October 2013. Inc.. 2013.
  8. Web site: Need a parking spot? ParkWhiz wants to book it. 6 October 2013. Crain's New York Business. 30 August 2013.
  9. Web site: How ParkWhiz is using the Super Bowl to build its business. Ann Dwyer. 6 February 2012. Chicago Business. 6 October 2013.
  10. Web site: Elahi. Amina. ParkWhiz raises $24 million, acquires BestParking. 26 January 2016. Chicago Tribune. 26 January 2016.
  11. Web site: White. Joseph. Ford to launch new customer relations and service model. 26 January 2016. Reuters. 11 January 2016.
  12. Web site: Dallke . Jim . ParkWhiz buys Tel-Aviv parking startup, launches new payment feature . Chicago Inno . bizjournals.com . 1 June 2018.
  13. Groupon (GRPN) Partners ParkWhiz to Offer Convenient Parking . NASDAQ.com . Zacks Equity Research . en-us . 24 January 2018.
  14. ParkWhiz - Concur App Center. 26 January 2016. Concur. 26 January 2016.
  15. Web site: Elahi. Amina. ParkWhiz, StubHub team up to ease parking pains at events, concerts. 26 January 2016. Chicago Tribune. 5 January 2015.
  16. Web site: StubHub Partners With Chicago's ParkWhiz to Expand its Parking Offering. 26 January 2016. ChicagoInno. 18 December 2014.
  17. Barclays Center :: Parking. 26 January 2016. Barclays Center.
  18. Parkwhiz Named 'Official Parking App' Of Boston Red Sox . www.prnewswire.com . en.
  19. GasBuddy Partners with ParkWhiz's Arrive™ Network.
  20. Web site: GasBuddy Launches Parking Tool.
  21. Web site: 2018-06-07 . TomTom Teams Up with ParkWhiz to Power Parking Solutions in North America . 2023-08-17 . www.businesswire.com . en.
  22. Web site: Wasserman. Todd. Reddit Founder Backs Parking Reservation System ParkWhiz. 6 October 2013. Mashable. 19 December 2012.
  23. Web site: Roa. Leena. The OpenTable For Parking Spots, ParkWhiz Raises $2M. 6 October 2013. TechCrunch. 19 December 2012.
  24. Web site: Hendershot. Steve. ParkWhiz pulls in $10 million in new funding. 20 March 2014. Crain's Chicago Business. 21 July 2014.

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