U.S.-Based Parking App Developer ParkWhiz Acquires Tel Aviv-Based CodiPark
ParkWhiz develops apps that allow drivers to pre-book and pay for parking spaces from different parking operators at specific times and locations
Chicago-headquartered parking space booking company ParkWhiz Inc. has acquired Tel Aviv-based parking management startup CodiPark Ltd., ParkWhiz announced on Thursday. The financial terms of the deal were not disclosed.
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Founded in 2006, ParkWhiz develops apps that allow drivers to pre-book and pay for parking spaces from different parking operators at specific times and locations. ParkWhiz lists Ford, Ticketmaster, Groupon, and Madison Square Garden among its partners and is available in over 190 cities in North America, according to company statements. The company has 75 employees and has raised $37 million to date, according to information from Seattle- based market research company Pitchbook Data inc.
Established in 2011, CodiPark developed software for parking management which allows operators to offer various services and receive online payments. The company has raised $800,000 to date, according to Pitchbook.
As part of the deal, ParkWhiz will integrate technologies developed by CodiPark into its apps allowing for automatic payment options that do not require advance booking. CodiPark’s five-man team will continue to operate in Tel Aviv as ParkWhiz’s research and development center.