ParkHub, a provider of parking software and payments services and a portfolio company of LLR Partners, has acquired Smarking, a parking software provider for commercial real estate owners, parking operators and municipalities.
Founded in 2014, Smarking is a SaaS-based service that aims to help its customers manage their parking assets through access to real-time data and analytics. The company supports approximately 2,500 parking locations for commercial real estate owners, municipalities, hospitals, universities, airports and parking operators in North America. With this deal, ParkHub looks to expand its product offerings to support its existing customers and also expand its presence into new end markets.
“Smarking and ParkHub have a shared vision – a customer-centric, software-driven ecosystem that increases revenue and drives cost savings for parking managers, owners, and operators,” comments Wen Sang, CEO of Smarking. “We are excited to join the ParkHub team and continue to provide industry-leading parking software and payments solutions to our customers.”
“The addition of Smarking allows us to expand our product offering and better support our existing customers while continuing to grow and serve new markets,” says Conner Mowles, president of ParkHub.