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ParkJockey
TypePrivately held company
IndustrySoftware, hardware
Founded2013; 13 years ago (2013)
FoundersUmut Tekin[1]
Ari Ojalvo[2]
Headquarters
Miami, Florida, U.S.
Area served
United States & United Kingdom
Key peoplePhilippe Saint-Just (CTO)[3]
George Fallica (CRO)
Number of employees
15,000
Websiteparkjockey.com

ParkJockey was an American parking technology company based in Miami, Florida. Founded in 2013, it sold software and payment hardware to parking operators and commercial property owners, and ran a consumer mobile app for reserving and paying for off-street parking.[4][5]

In December 2018 the company confirmed an investment from SoftBank Group, reported at between $800 million and $1 billion, that valued it at more than $1 billion and financed the purchase of two of North America's largest parking operators.[6][5][7] It was relaunched under the name REEF Technology in June 2019.[8][9]

History and growth

[edit]

ParkJockey was co-founded by two former management consultants in Chicago. Having diagnosed a number of inefficiencies in the parking industry, they lay the foundation of ParkJockey with a website for paying for off-street parking spaces.[10] In 2013, ParkJockey raised $1.8 million in angel investment to develop a mobile app and has formally launched its services later in the year.[11] Seeing a potential for growth in Europe, ParkJockey launched its London office in 2014 to serve all of the U.K. market.[12]

Since then, the company has undergone further investment rounds and has grown to become a B2B real estate technology platform offering landlords and parking operators hardware and software to manage and optimize parking operations,[13] including big data services.[14]

It is headquartered in Miami, with operations across the U.S. and the U.K.[15]

On December 3, 2018, financial and technology news media reported that Softbank Group and Mubadala have recently bought stakes in ParkJockey, primarily to finance planned acquisitions of parking lot operators, with the total investment amount approximated to be between $800 million and $1 billion.[16][17][18][19][20][21]

ParkJockey changed their name to REEF technology in 2019.[22]

Partnerships

[edit]

Ticketmaster

In January 2015, ParkJockey announced a partnership with the largest ticket sales company, Ticketmaster. The exclusive partnership is currently limited to the U.K. market.[23]

Miami Heat and FTX

In December 2014, ParkJockey became the official parking provider for the NBA franchise[24] HEAT Group. For all Miami HEAT games and other events (e.g., concerts) at the FTX Arena, ParkJockey provides parking spaces in advance.[25][26][27]

PaybyPhone

ParkJockey and PayByPhone (subsidiary of PayPoint, LSE: PAY)[28] announced a mutually exclusive partnership in late 2015. The companies decided to blend their services in order to provide better assistance for their customers.[29]

ResDiary

ResDiary, online reservations system, partnered with ParkJockey in 2015. ParkJockey provides parking for the customers who book their restaurant reservations through ResDiary.[30]

Odeon Cinemas

ParkJockey partnered with Odeon Cinemas in 2014. The company offers parking for Odeon customers who would like to have their parking space reserved along with their cinema tickets.[31]

Charitable activities

[edit]

ParkJockey has made financial contributions to Phil Collins' Little Dreams Foundation and The Gurkha Welfare Trust,[32] and supported the It Gets Better Project during the 2015 Pride Week.[33]

References

[edit]
  1. ↑ "Booking a car park space? Here's the app!". CNBC News. May 2014.
  2. ↑ "ParkJockey". Webinyo Turkey. December 22, 2015.
  3. ↑ "ParkJockey CTO shares his thoughts on iOS8 with Mobile Entertainment". ParkJockey News. June 13, 2014. Archived from the original on August 18, 2016. Retrieved July 24, 2016.
  4. ↑ Wiener, Anna (June 28, 2020). "Our Ghost-Kitchen Future". The New Yorker. Retrieved August 10, 2026.
  5. 1 2 "SoftBank invests in parking startup ParkJockey pushing valuation to $1 billion". TechCrunch. December 10, 2018. Retrieved August 10, 2026.
  6. ↑ "Scoop: SoftBank to invest in parking startup ParkJockey". Axios. December 3, 2018. Retrieved August 10, 2026.
  7. ↑ Dahlberg, Nancy (December 11, 2018). "Boom! ParkJockey confirms big SoftBank investment, but we still don't know the amount". Refresh Miami. Retrieved August 11, 2026.
  8. ↑ Reiser, Emon (June 26, 2019). "How this SoftBank-backed startup could transform parking lots into hubs for on-demand businesses". South Florida Business Journal. Retrieved August 11, 2026.
  9. ↑ Dahlberg, Nancy (June 25, 2019). "With SoftBank investment comes big vision for ParkJockey, now REEF Technology". Refresh Miami. Retrieved August 11, 2026.
  10. ↑ "Reuters website – Reuters on the Road". Archived from the original on October 14, 2014.
  11. ↑ "New ParkJockey app is right up your street". May 25, 2014 – via Sunday Express.
  12. ↑ "ParkJockey is now live across the United Kingdom!". ParkJockey press release. October 16, 2014. Archived from the original on August 18, 2016. Retrieved July 24, 2016.
  13. ↑ "Parking Operators - ParkJockey". www.parkjockey.com. Retrieved May 12, 2023.
  14. ↑ "Interview with CFO at IGNITE Conference". YouTube.
  15. ↑ "Parking in San Francisco". www.parkjockey.com. Retrieved May 12, 2023.
  16. ↑ "SoftBank could back parking startup | PitchBook". Retrieved December 4, 2018.
  17. ↑ "SoftBank to invest in parking firm ParkJockey". Retrieved December 4, 2018.
  18. ↑ "SoftBank to lead 'huge investment' in parking startup ParkJockey: Report". DealStreetAsia. Retrieved December 4, 2018.
  19. ↑ "DealBook Briefing: Trump's Trade Truce Is Mired in Confusion". The New York Times. December 4, 2018. Retrieved December 4, 2018.
  20. ↑ "Scoop: SoftBank to invest in parking startup ParkJockey". Axios. December 3, 2018. Retrieved December 4, 2018.
  21. ↑ "SoftBank invests in parking startup ParkJockey pushing valuation to $1 billion". TechCrunch. December 10, 2018. Retrieved December 17, 2018.
  22. ↑ Emon Reiser (June 26, 2019). "How this SoftBank-backed startup could transform parking lots into hubs for on-demand businesses". South Florida Business Journal. Retrieved May 12, 2023.
  23. ↑ "Ticketmaster.co.uk - ParkJockey". Retrieved May 12, 2023.
  24. ↑ "NBA website – Press release". NBA.com.
  25. ↑ Sentenac, Hannah. "Avoid Parking Hell at Miami Heat Games With ParkJockey App". Miami New Times. Retrieved May 12, 2023.
  26. ↑ "For urban living, there's probably an app for that" – via The Miami Herald.
  27. ↑ "Heat fans can reserve parking in advance with new app". Sun Sentinel. May 8, 2014. Archived from the original on October 14, 2014 – via The Sun-Sentinel.
  28. ↑ "About PayByPhone". PayByPhone UK website.
  29. ↑ "Miami-based ParkJockey partners with PayByPhone to create parking marketplace". December 21, 2015. Retrieved December 5, 2018 – via The Miami Herald.
  30. ↑ "Now you won't be late for your reservation with ResDiary". Parkjockey Press Release. May 2015. Archived from the original on November 13, 2015. Retrieved July 24, 2016.
  31. ↑ "Odeon Cinemas website". Archived from the original on September 12, 2016. Retrieved May 12, 2023.
  32. ↑ "ParkJockey help Gurkha charity". June 27, 2015 – via Transportxtra.
  33. ↑ "ParkJockey teams up with It Gets Better during Pride Week 2015". June 26, 2015. Archived from the original on November 13, 2015. Retrieved July 24, 2016.
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