Acquisition Enhances Company's Strength in Connected Mobility and Mobile Payments
CHICAGO, May 31, 2018 /PRNewswire/ -- ParkWhiz announced today that it has acquired CodiPark, a Tel Aviv-based company known for industry-leading solutions that deliver a friction-free parking experience. With the acquisition, ParkWhiz will add drive-up mobile payments to its Parking Platform, which powers numerous third party mobile apps, as well as its own ParkWhiz and BestParking brands. In addition to having the option of pre-booking parking, consumers will now also be able to simply drive up to a lot or garage, pull a ticket and pay by scanning it in whichever ParkWhiz-powered app they are using. Payment and validation are managed without ever visiting a kiosk, or blocking traffic at a gate while fumbling for a credit card or cash.
The company is working collaboratively with parking access control systems and parking operators to offer drivers more seamless ingress and egress options via mobile devices and connected vehicles. The acquisition is part of a broader strategy by ParkWhiz aimed at solving the last mile of connected and autonomous mobility.
"CodiPark's world-class technology and inspired engineering talent further enhances the ParkWhiz Platform by delivering more friction-free parking options to drivers and their vehicles," said Yona Shtern, CEO of ParkWhiz. "It will also reduce the burden on operators of handling cash and improve the flow in and out of their facilities. This is another strategic step ParkWhiz is taking to advance connected mobility and to enable consumers in their platform of choice, whether it be through app, voice or in-dash."
With the acquisition, ParkWhiz will maintain an office in Tel Aviv--a city known as a global connected mobility hub with specific heritage in wireless communications and navigation--to continue to develop new mobility solutions for its partners.
"ParkWhiz is a highly innovative company that is consistently one step ahead. We are excited to integrate our technology into their Platform, and to work with our industry partners to make parking a more connected and efficient experience for everyone," said Tavor Ilan, co-founder and CEO of CodiPark.
ParkWhiz is the leading transactional platform that enables drivers, fleets and connected vehicles to find and book parking. The company offers the largest inventory of parking spaces for drivers to reserve before reaching their destinations, saving both time and money. Working with all major parking operators, it delivers transactional parking as a value-added service to major brands in sports and entertainment, travel, automotive and navigation. ParkWhiz has built partnerships with brands including Ford, Ticketmaster, Groupon, Madison Square Garden and others. The company operates two consumer-facing brands of its own—ParkWhiz and BestParking—available for Apple, Android and Amazon Alexa. ParkWhiz has parked over seven million vehicles and is operational in over 190 cities in North America and expanding rapidly. For more information, visit ParkWhiz.com.