Parking Sense star keeps rising

Press Release
Parking Sense star keeps rising

Cambridge (New Zealand) based parking technology company, Parking Sense, was named New Zealand’s top rising star at the recent 2016 Deloitte Fast 50 awards, beating off some of the most intense competition the awards have seen.

The Rising Star award recognises early stage, innovative, high-potential companies who are the next generation of fast 50 companies.

“Potential is a good word to use”, says Global CEO, Paul Collins. “We launched into the US and Europe last year and it’s fair to say we’ve had an incredible response. But when you consider the size of the market and how much it’s growing, we’ve really only scratched the surface.”

The market for smart parking spaces is forecast to grow from US $220 million in 2014 to US $985 million in 2019, and Parking Sense has developed an end to end system designed to enhance the driver experience and give car park operators significant opportunities to optimise revenue.

“We are moving from parking guidance to integrated parking solutions,” says Collins. “It’s all about getting drivers into parks quickly and efficiently and giving operators as many opportunities as possible to make money and extract data.”

Impressive progress is being made around the world with major deals already signed including a contract to install the Parking Sense system into 21,000 spaces in LA . “The LA Metro deal was the biggest deal of its kind this year in our industry,” says US CEO, Jake Bezzant. “And we’ve had many more wins including University of Washington, Walter Reed National Military Medical Centre, Darling Harbour and Dubai Mall. But the big story is in our pipeline which is very exciting to say the least. We are looking forward to the next 12 months!”

“We're now planning our next moves,” says Collins. “Our user-based APP, ParkUp has gone live and it’s set to further transform the industry. This is a disruptive technology that gives users the ability to find, book and pay for parking spaces with one mechanism, while by passing present infrastructure. This is the next generation of parking solutions.”

With bulging pipelines in the US and Australia, the next phase of investment will be Europe where the operation is showing early signs of the same growth trajectory. We aim to be in the fast 50 in the next two years, so it’s a case of watch this space.”

ENDS

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