DALLAS & CHICAGO--(BUSINESS WIRE)--ParkHub, the leading B2B parking technology provider, and SpotHero, the leading parking mobility platform, have announced a long-term partnership designed to capitalize on each company’s core strengths. As part of the partnership, ParkHub will service SpotHero’s parking point-of-sale (P3OS) client relationships, and SpotHero will grow its event parking inventory to include hundreds of additional event venues nationwide.
By assuming SpotHero’s point-of-sale client relationships, ParkHub will expand its market-leading offering to further help parking operators improve customer experience and drive revenue through streamlined operations and real-time insight. ParkHub is currently utilized by numerous professional sport team venues and premier entertainment sites, including the Dallas Cowboys stadium, Live Nation amphitheaters, and MGM Resorts Properties.
By partnering with ParkHub, SpotHero will expand its existing network of premium parking facilities with hundreds of additional venues. This expansion further asserts SpotHero’s leadership position as the largest parking mobility platform in North America.
“Gaining access to parking at hundreds of venues presents a big opportunity to grow our parking mobility platform and impact on drivers across North America,” said Mark Lawrence, co-founder and CEO of SpotHero. “George and I are excited to work together to make sure SpotHero can offer official parking at every event venue across the country – and that ParkHub’s clients will have the hardware, software and booking platform they need to provide exceptional service to every guest.”
“Tremendous strides are being made across the industry to provide consumers the best parking experience possible,” said ParkHub Founder and CEO, George Baker Sr. “This partnership with SpotHero creates an opportunity to promote pain-free parking at every stage of the customer’s journey. Our combined efforts promise an even more efficient, positive experience to come for clients and drivers.”
This long-term partnership between ParkHub and SpotHero yields many benefits for drivers, event venues, and parking operators:
- Drivers will experience faster, easier and more convenient parking enabled by technology for rapid cash-free payment processing and digitized parking passes
- Venues will be able to provide a better overall guest experience and get visitors from “street to seat” faster than ever. They will see an increase in parking revenues as a result from guests realizing the convenience and flexibility afforded by digital parking solutions
- Parking operators will be able to recommend a more robust parking technology toolkit to their clients and use it to streamline day-to-day operations and parking sales
Starting this month, SpotHero’s existing point-of-sale solution contracts will be transferred over to ParkHub and ParkHub’s inventory will begin to become available on SpotHero’s parking mobility platform. The companies will continue to operate separately, but plan to execute future strategic initiatives to serve guests and parking operators across North America.
Terms of the transaction were undisclosed. ParkHub was represented by Glenn Singleton at Foley & Lardner, LLP. SpotHero was represented by Dinsmore & Shohl, LLP.
ParkHub is a Dallas-based technology company that provides software and hardware services for the global parking industry. The company's products provide multiple payment options, real-time reporting of parking revenue, support for dynamic pricing, and inventory availability and control. ParkHub technology integrates with many prepaid parking and ticketing providers. Founded by parking industry veteran, George Baker, Sr. ParkHub has effectively fast-tracked traditional parking operations into the digital age, managing over 1 million parking spots and having parked over 18 million vehicles to date. For more information, visit ParkHub.com.
SpotHero envisions a world where people get everywhere, easier. The company connects mobility leaders, vehicles and drivers with the largest network of off-street parking in North America through its HeroConnect platform, a parking API and SDK, and provides the connective tissue to exchange data and payments. SpotHero is also the leading parking reservation service with more than 20 million cars parked and the most app downloads nationwide. This full ecosystem approach makes parking facilities future-proofed, cities more accessible, and the world more connected. Founded in 2011, SpotHero is headquartered in Chicago and has raised $68.3 million in funding. To learn more, visit SpotHero.com.