ParkHub, a Dallas, TX-based B2B parking technology provider, raised $13m in Series B funding.
The round was led by Arrowroot Capital. As part of the transaction, Kareem El Sawy, Partner at Arrowroot Capital, will be joining the board.
The company intends to use the funds for sales and marketing growth and product development.
Led by George Baker Sr., Founder and CEO, ParkHub provides a suite of subscription-based solutions for parking professionals to improve customer experience and drive revenue with streamlined operations and real-time insight.
The product suite includes:
– Prime, a mobile point-of-sale solution;
– Portal, a business intelligence system;
– Pulse, a multi-directional occupancy sensor; and
– ParkHub.io, a parking inventory and data distribution system.
Customers include premier professional sports teams and entertainment clients and the technology integrates with major parking and ticketing providers, such as SpotHero, Parkmobile, ParkWhiz, Ticketmaster, and Tickets.com.
ParkHub manages over 1 million parking spots and has parked and digitally transcribed over 18 million vehicles to date.
Over the past year, the company has executed a multi-year agreement with Live Nation, expanded on a growing list of venue and university partners, and began to penetrate the State and National Park verticals. In January 2019, it acquired the mobile point-of-sale division of SpotHero and formed a long-term partnership designed to improve the overall consumer parking experience.