YourParkingSpace, a UK-based on-demand parking platform and provider of intelligent parking solutions, raised £5m in funding.
Pelican Capital made the investment.
The company intends to use the funds to further develop its proprietary technology which already markets over 80,000 bays in the UK from private individuals through to operators including Tesco, Morrisons and Premier Inn, and to create 40 new jobs over the next 12 months across the technology, marketing and sales teams both in London and in a new office in York. The investment in sales and marketing will target both new commercial customers and the expansion of services with current clients.
Led by Harrison Woods, Chief Executive and Co-founder, YourParkingSpace is a provider of intelligent parking solutions. Its online marketplace processes thousands of reservations daily from Britain’s motorists, and its commercial offering specialises in digitalising car parks to generate revenue from underutilised space whilst also streamlining the parking experience through its proprietary technology and live data analytics. Alongside its 60,000 private space providers, the business also works with household names such as Tesco, Morrisons and Premier Inn.
The company’s technology and data is already being used to inform operators of the optimum location and models for EV charging points, with future opportunities being explored within the last mile delivery, dark kitchens and micro-mobility spaces.