EasyPark acquires start-up, PARKO to revolutionize parking guidance

EasyPark acquires parktech Parko to shift motorist's traffic behaviour from on-street to off-street, helping cities and parking operators in their efforts to reduce traffic congestion and improve occupancy in off-street parking facilities

- Stockholm, Sweden, EU
EasyPark acquires Parko

In a move to complement current capabilities within parking availability, EasyPark Group acquires parktech start-up, PARKO. Specialised in advanced algorithms for determining on-street parking availability, PARKO joins EasyPark with a team of skilled data scientists. PARKO’s industry-leading algorithms for providing unrivalled accuracy on block-by-block parking availability helps drivers discover the most efficient route for finding parking.
 
Transparent information about parking space availability throughout the city allows motorists to make well-informed decisions regarding their route to their destination. This will decrease driver’s parking search time and help cities improve traffic flows. With up to 30% of congestion in a city attributed to motorists looking for a parking space, the ability to quickly and efficiently guide them to an available parking space will reduce emissions and contribute to greener cities. At the same time it allows commercial parking operators, who are transparent about the parking availability of their garages and surface lots, to drive a substantial part of this parking search traffic into their properties, through this partnership with EasyPark.
 
EasyPark has been investing heavily in parking availability prediction. The acquisition of PARKO is another important step in enhancing our current solution and strengthening the team further with people passionate about making parking easy for drivers,” comments Johan Birgersson, CEO at EasyPark Group. “This puts us in a unique position to deliver what we call Parking Excellence, meaning fully digitized parking solutions to cities and drive revenues for commercial operators”.

“We built our company on our passion for making parking easy just as EasyPark has done. They have a very competent team and we are excited to join forces with them to create the world’s best parking guidance service”, says Tomer Neu-Ner, CEO of PARKO.

Elan Zivotofsky, General Partner at OurCrowd, the largest investor of PARKO, comments, “EasyPark is the ideal home for PARKO with their phenomenal momentum, unique market position, and bold vision. Having been part of the journey since PARKO’s inception, we look forward to the continued growth of EasyPark with the new addition of the PARKO team”
 
EasyPark was the first player to bring phone parking to market in 2000. Since then the company has consistently delivered innovative services to market, fast tracking the evolution of parking. The future of parking is a fully digitized ecosystem that connects all stakeholders in real-time, gradually reducing, and over time eliminating our current parking experience. In April 2016, EasyPark made it into the Red Herring Top 100 Europe list, being one of the most exciting European companies to keep a watch of.

Click here to watch the interview at Intertraffic Amsterdam 2016

Click to watch the interview at Intertraffic Amsterdam

Interview with CEO Johan Birgersson and CBDO Mauritz Börjeson of EasyPark Group, during Intertraffic Amsterdam 2016.

About EasyPark

EasyPark

In 400 cities across 9 markets, EasyPark helps drivers find and pay for parking. By using advanced technology and data we connect smart cities to guide traffic, improve urban accessibility and lower the cost of parking operations. EasyPark's award-winning app has saved consumers time and money since 2000. Read more about the company at www.easyparkgroup.com.

About ParkoParko logo

Parko brings a big data solution to finding parking, providing comprehensive real-time parking availability information. This information is used to guide drivers on the optimal route to park over the “last mile” of their journey. For more information about the company, please visit www.parko.com.

About OURCROWDOURCROWD logo

OurCrowd is a leading equity crowdfunding platform for investors from around the world to invest in global startups. Managed by a team of seasoned investment professionals and led by serial entrepreneur Jon Medved, OurCrowd vets and selects opportunities, invests its own capital, and brings companies to its accredited membership of global investors. OurCrowd provides post-investment support to its portfolio companies, assigning industry experts as mentors and in some cases takes board seats. OurCrowd has raised over $220M for its 100 portfolio companies, generating seven exits in three years. The OurCrowd community of 12,000+ investors from over 110 countries, mentors and partners is comprised of a diverse makeup of backgrounds, professions, locations, and investing experience. Post-investment, OurCrowd provides support to its portfolio companies, assigning industry experts as mentors and taking board seats, and invites its membership to participate in crowd-building companies.

 

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