EasyPark acquires start-up, Parko to revolutionise parking guidance

The acquisition enhances EasyPark’s service with block-by-block parking availability on street.

Stockholm, Sweden—In a move to complement current capabilities within parking availability, EasyPark Group acquires parktech start-up, PARKO. Specialised in advanced algorithms for determining on-street parking availability, PARKO joins EasyPark with a team of skilled data scientists. PARKO’s industry-leading algorithms for providing unrivalled accuracy on block-by-block parking availability helps drivers discover the most efficient route for finding parking.

Optimized information about parking space availability will decrease driver’s parking search time, help cities improve traffic flows and increase utilization of surface car parks and garages for commercial operators. With up to 30% of congestion in a city attributed to looking for a parking space, the ability to quickly and efficiently find a space will reduce emissions and contribute to greener cities.

“EasyPark has been investing heavily in parking availability prediction. The acquisition of PARKO is another important step in enhancing our current solution and strengthening the team further with people passionate about making parking easy for drivers,” comments Johan Birgersson, CEO at EasyPark Group. “This puts us in a unique position to deliver what we call Parking Excellence, meaning fully digitised parking solutions to cities and parking operators”.

“We built our company on our passion for making parking easy just as EasyPark has done. They have a very competent team and we are excited to join forces with them to create the world’s best parking guidance service”, says Tomer Neu-Ner, CEO of Parko.

Elan Zivotofsky, General Partner at OurCrowd, the largest investor of PARKO, comments, “EasyPark is the ideal home for PARKO with their phenomenal momentum, unique market position, and bold vision. Having been part of the journey since PARKO’s inception, we look forward to the continued growth of EasyPark with the new addition of the PARKO team”

EasyPark was the first player to bring phone parking to market in 2000. Since then the company has consistently delivered innovative services to market, fast tracking the evolution of parking. The future of parking is a fully digitised eco-system that connects all stakeholders in real-time, gradually reducing, and over time eliminating our current parking experience. In April 2016, EasyPark made it into the Red Herring Top 100 Europe list, being one of the most exciting European companies to keep a watch of.

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About Parko

PARKO brings a big data solution to finding parking, providing comprehensive real-time parking availability information. This information is used to guide drivers on the optimal route to park over the “last mile” of their journey. For more information about the company, please visit www.parko.com.