Overview

Smarking provides business intelligence and yield management solutions specifically for the parking industry. Its main product is the Automated Yield Management (AYM) system, which uses demand forecasting to adjust parking prices multiple times a day based on predicted demand. This dynamic pricing strategy helps maximize revenue for parking owners and operators, with some clients experiencing revenue growth of up to 136% year-over-year. Smarking operates on a software-as-a-service (SaaS) model, allowing clients to subscribe to its platform that centralizes parking data from various sources. This ensures data integrity and operational efficiency, even during equipment failures. Unlike competitors, Smarking takes a hands-on approach, treating each client's portfolio as their own to identify opportunities for improvement. The company's goal is to help parking operators optimize their revenue through effective data management and pricing strategies.

Simplify's Take

What believers are saying

• AI-driven predictive analytics in parking management is gaining traction, boosting demand.
• Smart city initiatives increase demand for advanced parking solutions like Smarking's.
• Contactless payment systems in parking facilities are accelerating, benefiting Smarking's offerings.

What critics are saying

• Emerging competitors with similar solutions could erode Smarking's market share.
• Rapid AI advancements may lead to new entrants with superior predictive analytics.
• Changes in urban mobility trends could reduce demand for traditional parking solutions.

What makes Smarking unique

• Smarking uses advanced data analytics to optimize parking revenue and efficiency.
• Their Automated Yield Management system dynamically adjusts prices based on demand forecasting.
• Smarking centralizes parking data, ensuring data integrity during equipment failures or updates.

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Funding

Total Funding

$3.1M

Meets

Industry Average

Funded Over

2 Rounds

Notable Investors:

Y Combinator

Notable Investors:

Y Combinator

$3,000,000

Seed

May 2015

Seed funding is usually the first official round after pre-seed, when a startup has a prototype or concept. It’s typically used to develop the product, test the market, and start building the team. Investors here are often angel investors or early-stage venture capitalists.

Seed Funding Comparison

Meet Average

Industry standards

Ind Avg. $3.3M

$500k

$1.5M

$2M

$2.3M

$3M

$3M

View all funding stages