MIAMI & COLUMBUS, Ohio--(BUSINESS WIRE)--REEF Technology, the ecosystem that connects the world to your block, announced today a partnership with TIBA Parking Systems, a leader in parking technology. This collaboration will revolutionize the way landlords and operators will monetize their parking real estate. Through the partnership, REEF and TIBA will provide parking operators and landlords with a best-in-class PARCS system (Parking Access and Revenue Control System) paired with built-in access to REEF’s ecosystem of applications and additional revenue sources. This allows for traditional parking lots to create new revenue streams by transforming isolated parking facilities to connected and dynamic mobility hubs that offer diverse solutions to serve the needs of the ever-evolving urban population.
As new parking facilities join REEF’s network, they will enjoy access to REEF’s parking and mobility solutions including facility management, traffic control, and a consumer-facing mobile parking application. Existing parking lots within REEF’s network will transition to TIBA’s flexible, industry-leading solutions and operators will be able to seamlessly manage parking sites, collect revenue and access sophisticated data usage in real time. By contracting with REEF, landlords will benefit from having direct access to a connected PARCS system and revenue-generating applications, both of which are dynamically powered by REEF.
“Our joint solution offering creates an unprecedented opportunity for landlords to maximize their asset value at a time when building and property usage is changing rapidly because of the pandemic,” said Matt Lindenberger, Chief Technology Officer at REEF. “With TIBA, we will help asset ownership materially increase real estate value while making a seamless and first-class parking experience for consumers.”
REEF’s partnership with TIBA will enable more businesses and landlords to expand into additional sectors and applications with REEF’s product ecosystem that is tailored to meet the diverse needs of surrounding neighborhoods. REEF delivers the power of proximity through both a technological and physical platform, a foundation built on top of the traditional parking infrastructure allowing partners such as TIBA to move essential products and services closer to the customer than ever before. With extensive global experience as part of the FAAC family of companies, TIBA’s robust, scalable cloud architecture enables parking operators to keep pace with the latest trends in centralized operations, automated smart facilities, ticketless and frictionless parking, web reservations, valet and mobile payments.
“We’re thrilled to join forces with REEF, a company that is paving the way for our industry in terms of innovation, profitability, data optimization and empowering communities,” said Moshe David, Chief Executive Officer at TIBA. “Our commitment to deliver an engaging parking experience will fuel this partnership and provide a comprehensive platform, enabling a smoother process for supporting our partners, VARs, and customers.”
Existing and interested parking landlords can learn more about REEF Parking Management ecosystem and solutions here.
REEF’s mission is to connect the world to your block. We transform underutilized urban spaces into neighborhood hubs that connect people to locally curated goods, services, and experiences. With an ecosystem of 4,500 locations and a team of 15,000 people, REEF is the largest operator of mobility, logistics hubs, and neighborhood kitchens in the United States. Together we are leveraging the power of proximity to keep our communities moving forward in a sustainable and thoughtful way. Visit reeftechnology.com for more information.
About TIBA Parking Systems
TIBA Parking Systems, a FAAC Group company, is the leader of solutions for the parking and mobility industry. With the most advanced and flexible systems, TIBA products are scalable, reliable and user-friendly. TIBA is wholly committed to an “Engaged Parking Experience” through a focus on superior products, providing the industry’s most configurable solutions, and delivering a first-rate customer success partnership. TIBA’s flexible cloud architecture enables parking operators to leverage technology and market trends and unlock new revenue opportunity. TIBA serves parking operators and owners both directly and through an extensive network of value-added resellers. Visit www.tibaparking.com to learn more.