Parkmobile, an Atlanta-based digital parking solutions provider, has announced a partnership with BMW in an effort to expand its services countrywide.
The company, which created an app being used in the city of Atlanta through ATLPlus, a vendor contracted last year to provide parking in downtown Atlanta, enables drivers to find, pay for and reserve parking within the city ahead of time.
The Parkmobile app also provides drivers the option to extend parking times, through its mobile app, to avoid being ticketed of having their vehicles towed.
Under the new partnership whose terms remain undisclosed, BMW will provide additional capital to support product innovation and accelerate Parkmobile’s growth within the nation.
Parkmobile CEO Jon Ziglar said with both companies invested in mobility services, Parkmobile stands to expand its services beyond the 1 million spots the company currently owns nationwide.
“This new investment by BMW Group clearly validates our leadership position in the industry and our future growth potential,” said Ziglar.
Parkmobile’s app is seen as a means to minimize congestion in big cities where congestion is rampant, especially during big ticket events such as sporting events and concerts.
The company has processed over 50 million parking transactions nationwide through the app with the technology in use at 3,000 locations nationwide.
In Georgia, the company has 20,000 parking spots across metro Atlanta, Decatur and Rome.
BMW’s Vice president of mobility Services Bernhard Blaettel said with the partnership Parkmobile will be able to expand its services into more cities nationwide allowing drivers access to its services, helping minimize traffic congestion.
BMW has also begun deploying Parkmobile’s technology in its new fleet of vehicles.
“It perfectly complements our portfolio of innovative mobility services,” Blaettel said of the Parkmobile’s technology.
Last year, Parkmobile expanded into 75 new cities in North America, including New York, Philadelphia and Phoenix.
Parkmobile, recently named by Deloitte as one of the fastest growing technology companies in the US has 8 million registered users.
BMW which has since 2014 held minority shares in the company is now the sole investor in Parkmobile.