Parking management software provider ParkHub has secured a growth investment from LLR Partners, the Dallas-based company announced in a news release Thursday (Feb. 3).
ParkHub said the investment — no dollar figures were specified — will help it develop its parking software, build up its payment processing solutions and help it look for “complementary acquisition opportunities.”
The company’s technology is designed “to optimize parking operations, facilitate payments and deliver real-time business insights to customers in multiple vertical markets, including sports, music & entertainment, higher education, parks & recreation and other destinations.”
Additionally, the company said Jeff Shanahan, former CEO of CardConnect, will join its board as executive chairman, along with Mitchell Hollin and Ryan Goldenberg from Philadelphia’s LLR Partners, and existing board director, George Baker, ParkHub’s founder and CEO.
“Parking is experiencing a macro shift towards software adoption and electronic payments,” said Goldenberg. “ParkHub’s solution is tailor-made to enable parking operators and owners to optimize operations, help maximize revenue, and deliver seamless consumer experiences.”
Learn more: ParkHub Buys CurbTrac, Plans Integration Of Parking Management Tech
Last year, ParkHub acquired parking payment management platform CurbTrac, adopting that company’s software and integrating CEO Charley DeBow to its team.
“We are delighted to have reached a position where we can nurture innovative solutions that support our company’s aim and work with forward-thinking partners like Charley to deliver them to the public,” Baker said at the time.
CurbTrac centralizes payment data into a single platform, letting businesses offer several different parking options. Paired with ParkHub, it offers more in the way of operational efficiency.
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