What is Park+?
Founded in 2019, Park+ operates a mobile application platform designed to streamline the process of finding and paying for parking. The company addresses a critical pain point in urban environments by offering a convenient digital solution for drivers. Park+'s platform aims to enhance user experience and optimize parking management through technology, positioning itself as a key player in India's rapidly evolving smart city infrastructure.
How much funding has Park+ raised?
Park+ has raised a total of $42M across 2 funding rounds:
Series B
$25M
Series C
$17M
Series B (2021): $25M with participation from Sequoia Capital, AdvantEdge, Motherson Lease, Epiq Capital Group, Matrix Partners, and Somani Investments
Series C (2023): $17M led by Matrix Partners and Epiq Capital Group
Key Investors in Park+
Sequoia Capital
Sequoia Capital is a prominent venture capital firm with a significant presence in India, known for its long-term investment approach and active partnership with portfolio companies across venture, growth, and late-stage opportunities. They have a global track record of backing market leaders.
Matrix Partners
Matrix Partners is a venture capital firm established in 1977, focusing its investments on the software and services, communications equipment, semiconductors, storage, internet, and wireless sectors. The firm is headquartered in San Francisco, California.
Epiq Capital Group
EPIQ Capital Group is a Silicon Valley-based multi-family office and institutional investment manager that provides comprehensive wealth management services, including tailored investment options and advanced financial planning, primarily for high-net-worth families and institutions.
What's next for Park+?
The substantial enterprise-level funding and recent strategic investment signal Park+'s intent to scale its operations and further develop its technological capabilities. This capital infusion is likely to fuel expansion into new markets, enhance the platform's features, and strengthen strategic partnerships. Park+ is poised to leverage this financial backing to solidify its leadership in the parking solutions sector and contribute to more efficient urban transportation systems.
See full Park+ company page
