View source for ParkWhiz

{{Short description|E-parking service}}
{{Use dmy dates|date=July 2018}}
{{Multiple issues|
{{COI|date=June 2017}}
{{notability|Companies|date=May 2021}}
{{advert|date=May 2021}}
}}
{{Infobox company
| name             = ParkWhiz
| logo             = [[File:ParkWhiz Logo CMYK ForWhtBG Horizontal.png|frameless]]
| caption          =
| trading_name     = <!-- d/b/a/, doing business as - if different from legal name above -->
| native_name      = <!-- Company's name in home country language -->
| native_name_lang = <!-- Use ISO 639-2 code, e.g. "fr" for French. If there is more than one native name, in different languages, enter those names using {{tl|lang}}, instead. -->
| type             = Private
| traded_as        =
| industry         = E-parking
| genre            = <!-- Only used with media and publishing companies -->
| fate             =
| predecessor      =
| successor        =
| foundation       = {{Start date and age|2006|df=y}}
| founders          = Aashish Dalal, Jon Thornton
| defunct          = <!-- {{End date|df=yes|YYYY|MM|DD}} -->
| location_city    = [[Chicago, Illinois]]
| locations        = Chicago<br>New York City<br>Boston<br>Indianapolis
| area_served      = United States
| key_people       = Yona Shtern (CEO)
| products         = Web and mobile e-parking applications
| production       =
| services         =
| revenue          =
| operating_income =
| net_income       =
| aum              = <!-- Only used with financial services companies -->
| assets           =
| equity           =
| owner            =
| num_employees    = 100<ref name=employs/>
| parent           =
| divisions        =
| subsid           =
| footnotes        =
| intl             =
| romanized        =
| former type      =
| location_country =
| homepage         = {{URL|www.parkwhiz.com}}
| bodystyle        =
}}
'''ParkWhiz''' is an e-parking service that allows users to book parking spaces before reaching their destinations. ParkWhiz headquarters is located in [[Chicago, Illinois]].
==Origins==
ParkWhiz was founded in 2006 by Aashish Dalal and Jon Thornton.<ref name=WailinW2013>{{cite web|last1=Wong|first1=Wailin |url=https://www.chicagotribune.com/2013/06/12/parkwhiz-adds-monthly-parking-in-ny-to-its-booking-menu/|title=ParkWhiz adds monthly parking in N.Y. to its booking menu|access-date=6 October 2013|publisher=Chicago Tribune|date=12 June 2013}}</ref><ref name=RebeccaGrant2012>{{cite web|last1=Grant|first1=Rebecca|url=https://venturebeat.com/2012/12/19/cut-down-on-parking-rage-with-parkwhiz-reserve-spots-in-advance/|title=Cut down on parking rage with ParkWhiz, reserve spots in advance|accessdate=6 October 2013|publisher=VentureBeat|date=19 December 2012}}</ref> The company CEO is Yona Shtern. ParkWhiz works with 4,000 parking facilities in over 50 major cities and 35 states.<ref name=AmitCh2013>{{cite web|last1=Chowdhry|first1=Amit|url=https://www.forbes.com/sites/amitchowdhry/2013/07/31/how-parkwhiz-is-changing-the-parking-industry-2/|title=How ParkWhiz Is Changing The Parking Industry|accessdate=6 October 2013|work=Forbes|date=31 July 2013}}</ref> Founders Dalal and Thornton conceived the ParkWhiz concept in 2004 after becoming frustrated with the problem of locating parking during [[baseball]] games.<ref name=JustinPetrucelli2008>{{cite web|last1=Petruccelli|first1=Justin|url=http://www.entrepreneur.com/article/191948|title=Lots of Opportunities ParkWhiz puts a new spin on an old industry.|accessdate=6 October 2013|publisher=Entrepreneur|date=27 March 2008}}</ref> While parking spaces were available at various parking facilities, there was no organized system for determining their location or their price.<ref name=JustinPetrucelli2008 /> ParkWhiz service allows users to locate and purchase parking spaces online and on [[mobile devices]] before reaching their destinations.<ref name=RebeccaGrant2012 /> As of March 2019 ParkWhiz employs over 100 people in the United States, Israel and the Philippines.<ref name=employs>{{cite web |last1=Davis |first1=Katharine |title=ParkWhiz Rebrands as it Grows its B2B Service |url=https://www.americaninno.com/chicago/inno-news-chicago/parkwhiz-rebrands-as-it-grows-its-b2b-service/ |website=ChicagoInno |date=7 January 2019}}</ref>
==Services==
ParkWhiz allows drivers to locate and purchase daily, monthly, and event-based parking through its web and mobile applications.<ref name=ToddWasserman2013>{{cite web|last1=Wasserman|first1=Todd|url=http://mashable.com/2013/06/12/parkwhiz-new-york-city/|title=This App Will Let New Yorkers Find a Parking Spot|accessdate=6 October 2013|publisher=Mashable|date=12 June 2013}}</ref> Users of the ParkWhiz service are able to compare prices, locations, and amenities.<ref name=LeenaRoa2012 /> After drivers select a spot and process their payment, they are given an electronic parking pass that can be printed or presented on a [[smartphone]] or [[Tablet computer|tablet]].<ref name=RebeccaGrant2012 /><ref name=JenniferAlsever2013>{{cite web|last1=Alseyer|first1=Jennifer|url=http://www.inc.com/magazine/201303/jennifer-alsever/review-digital-parking-tools.html|title=Review: Digital Parking Tools|accessdate=6 October 2013|publisher=Inc.|year=2013}}</ref>
In 2013, as part of its first growth beyond Chicago, ParkWhiz expanded its monthly parking feature to New York City,<ref name=WailinW2013 /><ref name=JohnPletz2013>{{cite web|url=http://www.crainsnewyork.com/article/20130612/TECHNOLOGY/130619951|title=Need a parking spot? ParkWhiz wants to book it|accessdate=6 October 2013|publisher=Crain's New York Business|date=30 August 2013}}</ref> offering approximately 200 locations.<ref name=WailinW2013 /><ref name=JohnPletz2013 />
The company organized parking for the [[Super Bowl]] in 2010 and parked an estimated 30% of Super Bowl traffic in 2012.<ref name=AmitCh2013 /><ref name=Dwyer>{{cite web|url=http://www.chicagobusiness.com/article/20120207/blogs06/120209845/how-parkwhiz-is-using-the-super-bowl-to-build-its-business|title=How ParkWhiz is using the Super Bowl to build its business|author=Ann Dwyer|date=6 February 2012|publisher=Chicago Business|accessdate=6 October 2013}}</ref>
==Partnerships and acquisitions==
*
* In late 2015, ParkWhiz acquired BestParking.<ref name="AminaElahi2016">{{cite web|last1=Elahi|first1=Amina|url=http://www.chicagotribune.com/bluesky/originals/ct-parkwhiz-24-million-funding-bsi-20160126-story.html|title=ParkWhiz raises $24 million, acquires BestParking|accessdate=26 January 2016|publisher=Chicago Tribune|date=26 January 2016}}</ref>
* A partnership with Ford was announced at the Detroit Auto Show in 2016, where a range of ParkWhiz services including that smart parking would be integrated into the FordPass app.<ref name="JosephWhite2016">{{cite web|last1=White|first1=Joseph|url=https://www.reuters.com/article/us-autoshow-detroit-fields-idUSKCN0UP0CX20160111|title=Ford to launch new customer relations and service model|accessdate=26 January 2016|publisher=Reuters|date=11 January 2016}}</ref>
* In 2018, ParkWhiz acquired CodiPark, a Tel Aviv-based company, to add drive up mobile payments to its platform.<ref>{{cite web |last1=Dallke |first1=Jim |title=ParkWhiz buys Tel-Aviv parking startup, launches new payment feature |url=https://www.bizjournals.com/chicago/news/2018/06/01/parkwhiz-buys-tel-aviv-parking-startup.html |website=Chicago Inno |publisher=bizjournals.com |date=1 June 2018}}</ref>
* Also in 2018, ParkWhiz paired with [[Groupon]] to offer ParkWhiz's services through the Groupon app.<ref>{{cite press release |title=Groupon (GRPN) Partners ParkWhiz to Offer Convenient Parking |url=https://www.nasdaq.com/article/groupon-grpn-partners-parkwhiz-to-offer-convenient-parking-cm910125 |website=NASDAQ.com |publisher=Zacks Equity Research |language=en-us |date=24 January 2018}}</ref>
* ParkWhiz is a partner app in Concur's app center, allowing [[SAP Concur|Concur]] users and business travellers to mail e-receipts from ParkWhiz bookings.<ref name=ConcurAppCenter2016>{{cite press release|url=https://www.concur.com/en-us/app-center/listing/569839c00b39e11000378d8b/ParkWhiz|title=ParkWhiz - Concur App Center|accessdate=26 January 2016|publisher=Concur|date=26 January 2016}}</ref>
* ParkWhiz is the official parking provider for [[StubHub]]. Customers who buy tickets on StubHub are offered parking through ParkWhiz.<ref name=AminaElahi2015>{{cite web|last1=Elahi|first1=Amina|url=http://www.chicagotribune.com/bluesky/originals/chi-parkwhiz-stubhub-partnership-bsi-20150102-story.html|title=ParkWhiz, StubHub team up to ease parking pains at events, concerts|accessdate=26 January 2016|publisher=Chicago Tribune|date=5 January 2015}}</ref><ref name=WillFlanagan2015>{{cite web|url=http://chicagoinno.streetwise.co/2014/12/18/stubhub-parkwhiz-stubhub-expands-its-parking-offering-with-chicago-startup/|title=StubHub Partners With Chicago's ParkWhiz to Expand its Parking Offering|accessdate=26 January 2016|publisher=ChicagoInno|date=18 December 2014}}</ref>
* ParkWhiz is an official partner of [[Barclays Center]] in [[Brooklyn]], NY, with dasherboard ads and in-game promotions running during select [[New York Islanders]] hockey games.<ref name=BarclaysCenter2016>{{cite press release|url=http://www.barclayscenter.com/transportation/parking|title=Barclays Center :: Parking|accessdate=26 January 2016|publisher=Barclays Center}}</ref>
* ParkWhiz is the official parking app of the Boston Red Sox.<ref>{{cite press release |title=Parkwhiz Named 'Official Parking App' Of Boston Red Sox |url=https://www.prnewswire.com/news-releases/parkwhiz-named-official-parking-app-of-boston-red-sox-300619804.html |website=www.prnewswire.com |language=en}}</ref>
* In late 2018, ParkWhiz began a partnership with [[GasBuddy]] on their app, connected to their "Pay With Gasbuddy" service.<ref>{{Cite press release|url=https://www.prnewswire.com/news-releases/gasbuddy-partners-with-parkwhizs-arrive-network-300756582.html|title = GasBuddy Partners with ParkWhiz's Arrive™ Network}}</ref><ref>{{Cite web|url=https://www.cspdailynews.com/technologyservices/gasbuddy-launches-parking-tool|title=GasBuddy Launches Parking Tool}}</ref>
* Also in 2018, ParkWhiz partnered with [[TomTom]] to provide integrated parking information for TomTom mapping services.<ref name=":0">{{Cite web |date=2018-06-07 |title=TomTom Teams Up with ParkWhiz to Power Parking Solutions in North America |url=https://www.businesswire.com/news/home/20180607005038/en/TomTom-Teams-Up-with-ParkWhiz-to-Power-Parking-Solutions-in-North-America |access-date=2023-08-17 |website=www.businesswire.com |language=en}}</ref>
==Financial information==
The company was a [[Bootstrapping (business)|bootstrapped venture]] until December 2012 when it raised $2 million in Series A funding led by Hyde Park Venture Partners.<ref name=WailinW2013 /><ref name=RebeccaGrant2012 /> Other investors in the round included: [[Alexis Ohanian]] of [[Reddit]], Ira Weiss, Henry J. Feinberg, and Amicus Capital.<ref name="ToddWasserman2012">{{cite web|last1=Wasserman|first1=Todd|url=http://mashable.com/2012/12/19/reddit-founder-ohanian-parkwhiz/|title=Reddit Founder Backs Parking Reservation System ParkWhiz|accessdate=6 October 2013|publisher=Mashable|date=19 December 2012}}</ref> ParkWhiz reported that the funding was used to broaden the company's reach and prepare for its first [[iOS]] and [[Android (operating system)|Android]] app releases.<ref name=RebeccaGrant2012 /><ref name=AmitCh2013 /><ref name=LeenaRoa2012>{{cite web|last1=Roa|first1=Leena|url=https://techcrunch.com/2012/12/19/the-opentable-for-parking-spots-parkwhiz-raises-2m/|title=The OpenTable For Parking Spots, ParkWhiz Raises $2M|accessdate=6 October 2013|publisher=TechCrunch|date=19 December 2012}}</ref> In July 2014, ParkWhiz raised $10 million in a Series B round of funding led by venture fund Jump Capital. The Series B round has allowed ParkWhiz to improve its mobile experience, expand its offerings and hire additional employees.<ref name=SteveH2014>{{cite web|last1=Hendershot|first1=Steve|url=http://www.chicagobusiness.com/article/20140721/BLOGS11/140729999/parkwhiz-pulls-in-10-million-in-new-funding/|title=ParkWhiz pulls in $10 million in new funding|accessdate=20 March 2014|publisher=Crain's Chicago Business|date=21 July 2014}}</ref> At the End of 2015, ParkWhiz raised $24 million in a Series C round of funding led by Baird Capital with participation by growth capital investor Beringea and existing investor Jump Capital.<ref name=AminaElahi2016 />
==References<ref name=":0" />==
{{reflist|2}}
==External links==
* [http://www.parkwhiz.com Official website]
* [http://www.parkwhiz.com/blog/ ParkWhiz Blog]
[[Category:Transport companies established in 2006]]
[[Category:Companies based in Chicago]]
[[Category:American companies established in 2006]]
[[Category:2006 establishments in Illinois]]