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ParkJockey raises $1B from SoftBank

Masa strikes again — bets big on parking management platform

Masayoshi Son (Credit: SoftBank)

Startup ParkJockey has raised an undisclosed amount of equity from SoftBank at a valuation of more than $1 billion, according to Axios. ParkJockey is looking to displace garage operators by selling a technology-based alternative directly to owners.

What they do: ParkJockey developed a parking management platform that helps commercial property owners better monetize parking lots. Features include automatic license plate recognition and a pay-by-app. The platform also assists large venues and stadiums in operating large lots. 

Worth Noting: The company also reached an agreement to acquire parking management company Impark. [Axios]

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