ParkJockey secures investment, reaching $1 billion valuation
10X News Desk
Finance
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ParkJockey secures investment, reaching $1 billion valuation

It's an app that helps monetise parking lots.

ParkJockey, a Miami-based startup, has reached a valuation of over $1 billion recently by securing investments from Softbank’s Vision Fund, Abu Dhabi’s Mubadala Capital, and Owl Rock. The start-up developed a parking management platform that helps commercial property owners better monetise parking lots as well as handle operations at large venues and stadiums. It’s platform offers features such as automatic license plate recognition and pay-by-app, among others.

This marks another investment in the transportation sector for the Vision Fund, the $100 billion fund of Japan’s Softbank, which is betting big on the sector. Other investments in transportation by the Vision Fund include Uber, Auto1 and Doordash. Learn more about the investment in ParkJockey, including the different offerings by the start-up, here.