Tel Aviv Startup CodiPark Acquired By US Firm ParkWhiz

May 31, 2018 | US e-parking service ParkWhiz, headquartered in Chicago, Illinois, announced that it acquired Tel Aviv-based startup CodiPark for an undisclosed sum. CodiPark, which also has offices in New York, is a mobile payment platform that enables “friction-less” parking with users skipping payment machines and kiosks for scanning barcodes. ParkWhiz said in a statement that “with the acquisition, ParkWhiz will add drive-up mobile payments to its Parking Platform, which powers numerous third party mobile apps, as well as its own ParkWhiz and BestParking brands.” The company also said the acquisition was “part of a broader strategy” aimed at “solving the last mile of connected and autonomous mobility.”

ParkWhiz CEO Yona Shtern said, “CodiPark’s world-class technology and inspired engineering talent further enhances the ParkWhiz Platform by delivering more friction-free parking options to drivers and their vehicles.” He said the acquisition “will also reduce the burden on operators of handling cash and improve the flow in and out of their facilities. This is another strategic step ParkWhiz is taking to advance connected mobility and to enable consumers in their platform of choice, whether it be through app, voice or in-dash.”

Tavor Ilan, co-founder and CEO of CodiPark, said, “ParkWhiz is a highly innovative company that is consistently one step ahead. We are excited to integrate our technology into their platform, and to work with our industry partners to make parking a more connected and efficient experience for everyone.