Vend Park has raised $17.5 million in Series A funding to expand its AI-powered platform that transforms parking operations into digital infrastructure for commercial real estate. The round was led by Blue Heron Capital with participation from Nuveen’s Real Asset Ventures, Communitas Capital, and John McMahon, along with follow-on investments from Derive Ventures, Floating Point Capital, PagsGroup, Crossbeam, and others.
The new funding will accelerate Vend’s expansion into major U.S. markets, enhance its AI-driven product roadmap, and support growth in sales, engineering, and customer success. Vend’s technology unifies operations and software, replacing traditional dual-vendor models that separate operators and technology providers. By integrating AI with an expert operations team, Vend automates day-to-day management, reduces inefficiencies, and improves financial performance for property owners.
Owners using Vend’s platform typically see increases in Net Operating Income of around 30%, reduced operating costs by as much as half, and improved experiences for tenants and visitors. Over the past two years, the company has expanded from three to fifteen cities and grown its customer base to include major commercial real estate firms such as Nuveen, Jamestown, Federal Realty, and Harwood International.
Industry leaders have described Vend’s approach as a major innovation for real estate technology. The company’s platform brings together AI, automation, and human operations to create a unified system that eliminates legacy inefficiencies in access control, billing, and reporting. The company’s investors view parking as an overlooked but critical component of commercial property operations that is now ripe for modernization.
Founded in Boston, Vend Park provides its AI-powered unified platform to office towers, mixed-use properties, healthcare facilities, hotels, universities, event venues, and airports. Its approach replaces outdated systems and fragmented service providers with a single, integrated solution that drives value, enhances the tenant experience, and delivers a measurable financial impact.
KEY QUOTES:
“Parking has been running inefficiently for years, built on a dual-vendor model that splits responsibilities between a traditional operator and a third-party technology provider. This setup creates high costs for real estate owners with significant inefficiencies like fragmented systems across access, billing, and reporting, and a poor experience that every driver can relate to. Vend replaces that outdated structure with an AI-powered infrastructure that unifies technology and operations to drive NOI and deliver a seamless experience. With Nuveen as a new partner and this additional capital, we’re excited to scale into hundreds of premium properties nationwide.”
Michael Miele, CEO of Vend Park
“Vend is unlocking real value for real estate owners with a platform approach that blends operations and technology seamlessly. This team is not just modernizing parking—they’re creating digital infrastructure for the built world.”
Brad Wilner, EVP at CBRE and Vend Board Member
“Our extensive research on the changing landscape of the parking industry revealed a sector undergoing a fundamental transformation from traditional labor-intensive operations toward digital solutions. Vend’s integrated technology and operations platform quickly proved it can drive significant value for real estate owners and capture market share. What differentiates Vend is their flexible approach to implementation, tailoring solutions to meet each property’s unique operational requirements and ensuring frictionless onboarding. Their approach makes it easy for us to work with them across a diverse set of assets.”
Jeanne Casey, Head of Real Asset Ventures at Nuveen
“The majority of parking assets across the country are still operating on outdated systems and legacy operating models that haven’t evolved in decades. Vend is uniquely positioned to revolutionize this space by delivering a unified, AI-powered platform that transforms parking into a strategic asset. We see enormous potential for Vend to capture market share and redefine what’s possible for owners and operators in this category.”
Kevin Musco, Vice President at Blue Heron Capital
