Dallas-based ParkHub has acquired Smarking, a provider of parking software for commercial and real estate owners.
ParkHub is a provider of parking software and payments solutions via cutting-edge enterprise technology to support the parking industry. In a statement, the company said the Smarking acquisition broadens ParkHub’s product suite to further support existing customers, while expanding its presence into new end markets.
Founded in 2014 by Wen Sang and Maokai Lin, San Francisco-based Smarking is a SaaS-based solution that enables customers to effectively manage their parking assets through access to real-time data and analytics.
Delivering an ‘end-to-end’ solution
“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,” ParkHub President Conner Mowles said in a statement. “We’re thrilled to partner with Wen, Maokai, and the entire Smarking organization to deliver an end-to-end, parking software and payment processing solution that helps parking managers and owners increase revenue and drive operational efficiencies.”
Smarking supports more than 2,500 parking locations for commercial real estate owners, municipalities, hospitals, universities, airports, and parking operators across North America, ParkHub said.
“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.” Smarking’s Sang said in a statement.
ParkHub was founded in 2010 by parking industry veteran George Baker Sr.. It provides a fully integrated software and payment processing solution 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.
MIT data scientists help drive Smarking
Smarking is composed of a team of MIT data scientists, urban real estate and mobility experts, software engineers, and business professionals.
The Smarking deal is the latest move by ParkHub, which announced in August that it acquired payment processing integrator Fuzse for an undisclosed amount.
“We’re thrilled to bring Fuzse into the ParkHub fold as we strive toward payments leadership in the parking industry,” ParkHub founder and CEO George Baker Sr. said in a statement in August. “The convergence point of our hardware, software, and payments solutions is where our customers compete and win with better customer experience and rich data to inform every decision.”
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