Parko
Crowd Sourced Parking Solution
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.
Log in to access full profile ›Company Intelligence Q&A
- What was a key strategic development for Parko?
- In May 2016, Parko was acquired by EasyPark Group. This acquisition led to Parko ceasing operations as an independent entity.
- When did Parko raise its seed funding round?
- Parko raised a seed round in June 2014. Investors included SparkLabs Global Ventures and OurCrowd.
- What was the total capital raised by Parko?
- Parko raised a total of $1.5M across its funding rounds.
- What was the status of Parko's user base prior to its acquisition?
- In June 2013, Parko's social network parking app reached 60,000 users, as reported by Globes. This milestone highlighted the growing adoption of its crowd-sourced parking solution.
- Which investor participated in Parko's December 2012 funding round?
- OurCrowd participated in Parko's funding round in December 2012, as reported by OurCrowd.