Parko

Company Overview

Snapshot

Founded in October 2011, Parko operated with 1–10 employees. The company raised $1.5M across three funding rounds from three investors. Parko was acquired by EasyPark Group in May 2016.

Business overview

Parko developed a data-driven solution for optimizing on-street parking, leveraging smart algorithms to collect information on drivers' parking behaviors. This data was used to create predictive parking availability maps, guiding users to optimal parking spots and providing door-to-door ETAs that accounted for parking search time. The company also offered an "Escape Route" feature to redirect users to nearby parking garages. Parko Analytics provided behavioral insights to app developers, enabling context-aware alerts for parking payments or traffic conditions. The company operated in the Automotive & Mobility Technologies sector, serving municipalities and individual drivers with its navigation and smart mobility solutions.

Strategic signal

Parko's acquisition by EasyPark Group in May 2016 marked a strategic consolidation in the urban mobility and parking solutions market. This exit validated Parko's crowd-sourced parking technology and its potential to be integrated into larger platforms, signaling a growing trend towards comprehensive smart parking services within the automotive and mobility technology sector.

Company Intelligence Q&A

When was Parko acquired?

Parko was acquired by EasyPark Group in May 2016.

What was the total capital raised by Parko?

Parko raised a total of $1.5M across its funding rounds.

Which investors participated in Parko's June 2014 funding round?

In June 2014, SparkLabs Global Ventures and OurCrowd participated in Parko's funding round.

What was a key milestone for Parko in June 2013?

In June 2013, Parko's social network parking app reached 60,000 users, as reported by Globes.co.il.