Parkofon: Fast Facts

Virtually everyone has felt the frustration and stress that comes with trying to find a parking spot and then paying for it at an outdated parking meter.

When you park

How long you can stay there

And charges you for the actual time you stay parked in the space.

The best part? Our groundbreaking technology features built-in toll pass, indoor navigation for parking garages, and big data analytics.

Why Now? If pay-by-phone parking app Parkmobile -- recently acquired by BMW -- could reach 11 million users by Year 7, we project an achievable 1.5 million subscribers to our fully automated solution by Year 5 with over $139 million revenue and $56 million EBIT.

KEY HIGHLIGHTS

Launched in Brooklyn, NY with a path to scale in LA, SF, Chicago, Boston, Grand Rapids, and other cities in 2019.

Won the Mobility Services award at 2018 Detroit Auto Show, GAMIC 2018 award, and presented among 64 global startups at 2018 Paris Motor Show.

Formal partnership with Avis Budget Group to pilot and deploy on rental fleet.

Supply chain fully built with partners in the US, China, Russia, Germany, Canada, and South Africa.

The Pursuit of Smarter Mobility

Few things are as frustrating as circling the block or parking garage in a congested city looking for a place to park, while on-street spaces vacate erratically as drivers come and go for business and leisure.

All of this is to say nothing of the egregious costs and other major downsides associated with parking, traffic congestion, and other urban commuting-related challenges.

While self-driving cars bring with them the promise of eliminating many of these pain points, the technology is still imperfect and years away from widespread adoption.

What we do have are smart meters and sensor technologies, as well as a slew of apps that predict where on- and off-street spaces will be available, direct you to them, allow you to reserve a space, and pay for the spot through your smartphone.

Helping You Move Forward

The Future of Smart Parking

Parkofon’s patent-pending technology uses high-precision geo navigation with secure telecom connection embedded in one small device to make parking easier so you can spend less time worrying about finding a spot, and more time getting to where you need to go.

Big Picture Vision

Parkofon has wide-spanning application that will make it possible to automate the entire mobility experience for drivers and businesses alike, with use cases that include:

Our big picture vision is to integrate our system into vehicles on a major scale and leverage the collected data to make mobility efficient and well-planned. We envision a future where meters, gates and toll booths will be replaced by in-vehicle navigation and networks like Parkofon, leading to reduced infrastructure cost and tax cuts.

Stepping On The Gas

The Parkofon team has made tremendous progress in just a short amount of time. Our biggest milestones to date include:

Built a supply chain of industrial and engineering partners in the US, China, Russia, Germany, Canada, and South Africa.

Meet The Team

Parkofon is helmed by a lean executive team with decades of collective experience across the world of tech, data science, business development, and beyond -- bringing the know-how and passion needed to build smarter cities through smarter urban driving.