- Parking technology leader FlashParking announced it has raised $60 million in strategic investment from the Growth Fund of L Catterton
Parking technology leader FlashParking recently announced that it raised a $60 million strategic investment from the Growth Fund of L Catterton. This round of funding will be used for scaling FlashParking’s industry-leading extensible and cloud-based parking system that enables 21st-century parking and the evolution of isolated parking assets into connected mobility hubs.
Founded in 2011, FlashParking enhances the parking experience with real-time data visibility and actionable intelligence, including supply data and dynamic pricing, to diversify revenue and deliver a frictionless experience. And today, FlashParking’s mobility hub operating system is the connective layer that transforms parking assets into multi-purpose mobility hubs where parking, transportation, mobility, and logistics intersect within a smart city environment. Plus FlashParking’s operating system is known for empowering real estate owners, parking operators, and cities to tackle complex mobility issues like congestion, lack of visibility into supply and demand, and fragmented consumer experiences.
“Over the last nine years, we have built the FlashParking platform with quality and adaptability in mind by making it cloud-based, mobile-first, and future-ready. This unique platform has allowed us to configure an operating system that’s not only the best solution for parking infrastructure today but also a model that’s ready for tomorrow,” said Juan Rodriguez, co-founder of FlashParking. “With this funding from L Catterton, we’ll be able to quickly scale our mobility hub operating system and become the only company that can turn customers’ parking assets into facilities that enable every facet of mobility, including mobile-enabled parking and valet, staging for TNCs, charging for electric vehicles, cleaning and servicing, drone launching and landing, and points for delivering.”
As the mobility industry is facing a shift that is moving the more toward systems that can support today’s and tomorrow’s mobility services, FlashParking intends to announce new partnerships with transportation, logistics, and mobility companies that are utilizing its platform. And FlashParking’s ability to innovate the parking experience is evidenced through its partnership with Texas Medical Center (TMC).
A couple of years ago, TMC chose FlashParking to help modernize its facilities and better respond to the evolving mobility ecosystem. And FlashParking’s mobility platform controls 30,000 parking spaces via 230 lanes across 34 facilities while simplifying parking, reducing congestion, improving traffic flow, and enhancing the experience for the more than 10 million patients, visitors, staff, and students who visit TMC ever year. Along with TMC FlashParking is delivering at an enterprise scale of over 6 million parkers per month and processing $1 billion in transactions at more than 1,300 locations worldwide.
“FlashParking is a best-in-class parking solutions provider with proven technology and an industry-first cloud-based software solution,” added Michael Farello, Managing Partner, L Catterton Growth Fund. “We are pleased to partner with the FlashParking leadership team to accelerate the Company’s growth and facilitate the delivery of mobility services to consumers and businesses.”
