Finding and paying for parking is not one of those activities that we look forward to. But for those of us that live in highly congested cities like LA, it’s been estimated that we spend 3.5 to 14 minutes finding a spot, and at any given time 30% of cars are looking for parking. When they started ParkMe, a platform that allows users to find and pay for parking, Alex Israel and Sam Friedman understood the depth of parking pain. In the startup world, solving a painful problem with an easy-to-use solution is gold.
ParkMe was born in a garage in Los Angeles and has grown to over 25 employees and raised over $10 million in venture capital. Last month, one of the company’s major partners Inrix acquired ParkMe for an undisclosed amount, signaling another win for the rapidly growing LA tech scene. The company is now in over 3,000 cities and seven continents, including a parking space in Antarctica.
The company uses a number of marketing strategies to acquire it’s users, including guerilla marketing, SEM, SEO, and partnerships to help scale globally. To engage and retain their users, push notifications and an in-app referral program called “Give 5, Get 5” are utilized. ParkMe works with local municipalities when entering new markets to maintain positive relationships with local communities.
Watch as Kara interviews Park’s Co-Founder & COO Alex Israel, and hear his vision for the future of apps in transportation: