Exit: Swedish EasyPark acquired the ‘Waze’ of parking, Parko
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Photo credit: Parko

Photo credit: Parko

The Israeli parking search startup was sold to Swedish EasyPark, an expert in parking technologies and smart cities

Applications like Waze have helped many users solve their navigation and traffic problems. However, one of the most pertinent issues arises right after a user reaches their destination: parking.

To deal with this pressing need, the Israeli company Parko has developed an application and analytics system designed to find parking in cities. Recently, the Swedish company EasyPark announced that it acquired the Israeli startup to enrich EasyPark’s services for a reported €1.5 million.

Predicting available parking spots

The Israeli company launched an application to help users find available parking spots. The application, which is still available on both Android and iOS devices, helps connect users leaving their parking spots to users looking for one. After collecting data about the parking patterns of different users, Parko has started to develop three main elements that will help most users on the road:

  • ParkoData, which can estimate which areas or parking spots will be available at certain times;
  • ParkoAnalytics, a service that provides in-depth analysis on parking availability information, and;
  • ParkoLastMile, an addition to its app that navigates the user directly to an available parking spot.

In addition, the company has released an API which is mostly intended for developers of transportation and traffic applications.

Parko was founded in 2011 by Tomer NeuNer, which serves as the company’s CEO, alongside Itay David and Moran Barda. Since then the company raised over $1 million in a seed round, which was led by OurCrowd and with the participation of companies such as SparkLabs and Global Ventures.

Commenting on the recent sale, CEO NeuNer said, “We have built our company to make parking easier, just like EasyPark. They have a talented team and we are delighted to join forces with them in order to create the world’s leading parking services company.”

Stockholm-based EasyPark was one of the first companies in the world to offer pay-by-phone parking solutions, which pioneered its services back in 2000. EasyPark can be used in more than 400 cities in 9 countries, where it helps make urban infrastructure smart (i.e., smart city-like), managing event parking solutions, fleet services and more.

Johan Birgersson, CEO of EasyPark, stated, “EasyPark has been investing heavily in parking availability prediction. The acquisition of Parko is another important step in enhancing our current solution and strengthening the team further with people passionate about making parking easy for drivers.” Birgersson added, “This puts us in a unique position to deliver what we call Parking Excellence, meaning fully digitized parking solutions to cities and parking operators.”

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