sPARK Parking Technologies

Company Overview

Snapshot

Founded in July 2012 by Zohar Bali and Eran Balter, sPARK Parking Technologies operates with 1–10 employees. The company raised a total of $4 million across 6 funding rounds from 8 investors before being acquired by Arrive Mobility in March 2020.

Business overview

sPARK Parking Technologies develops Parking Polly, an app that streamlines urban parking by providing smart navigation to available on-street and off-street spots. The core technology leverages extensive parking data, collected independently and through local partnerships, to offer real-time recommendations. The app aims to reduce the time and cost associated with finding parking, offering features such as pre-booking, seamless carpark access, and phone payments. sPARK operates in the Automotive & Mobility Technologies sector, specifically focusing on Urban Mobility, and serves consumers (drivers) and municipalities in markets including Israel and France.

Strategic signal

In March 2020, sPARK Parking Technologies was acquired by Arrive Mobility. This acquisition integrated sPARK's innovative smart parking recommendation engine into Arrive Mobility's enterprise parking platform, combining on-street and off-street parking solutions into a single offering. This move signals a strategic validation of sPARK's technology and its potential to enhance comprehensive urban mobility solutions for a broader market.

Company Intelligence Q&A

What was a significant corporate milestone for sPARK Parking Technologies?

sPARK Parking Technologies was acquired by Arrive Mobility in March 2020, integrating its smart parking recommendation engine into Arrive Mobility's platform.

When was sPARK Parking Technologies founded and by whom?

sPARK Parking Technologies was founded in July 2012 by Zohar Bali and Eran Balter.

How much capital did sPARK Parking Technologies raise prior to its acquisition?

sPARK Parking Technologies raised a total of $4 million across six funding rounds.

Which investor participated in a funding round for sPARK Parking Technologies in January 2018?

Terra Venture Partners participated in a Convertible Debt funding round for sPARK Parking Technologies in January 2018.

What was the strategic impact of the acquisition of sPARK Parking Technologies by Arrive Mobility?

The acquisition by Arrive Mobility in March 2020 allowed for the integration of sPARK's smart parking recommendation engine, enhancing Arrive Mobility's enterprise platform with combined on-street and off-street parking solutions.