MyPark Secures $2.1 Million Seed Financing Round from Local and Nationwide Investors

South Florida-based parking application is aggressively broadening and accelerating its expansion

MIAMI, Florida (April 24, 2018) – MyPark, the Miami-based parking solutions provider used by malls, private garages, public garages and property management companies, today announced it has completed a $2.1 million seed round of financing. Multiple investors were involved in the seed round. Through its current funding, MyPark attracted people on a national level, thus securing business and revenue for South Florida.

“The MyPark service has been up and running since 2016, and we have installed our technology in public and private parking garages, malls, and other locations throughout South Florida, Minnesota, New Jersey, California, Georgia and Puerto Rico,” said Luis Mayendia, President & CEO of MyPark. “Thousands of consumers have downloaded our iOS and Android app to eliminate the headaches and wasted time of trying to find a parking spot. With the seed round funding we will be able to continue to grow the company at not only a national level, but worldwide.”

MyPark partners with malls and garages to provide hassle-free parking to customers. Shoppers simply download the app directly from the Android or iOS stores, register and tell the app where and when they would like to park. Then they choose the section they want (the best spot is selected automatically by default) and confirm their reservation. Once users arrive at their reserved space, they simply tap “Let Me In” on their iOS or Android device and the unique MyPark reservation device will lower to give them access. Spaces can be booked on demand or reserved in advance, through the app, for $3 for up to two hours and $3 each additional hour.

The seed round financing builds on an exceptional last month for MyPark, which saw a rapidly growing expansion with the service launching at The Florida Mall, Orlando International Premium Outlets, Orlando Vineland Premium Outlets in Orlando. In addition, the U.S. Patent and Trademark Office officially issued Patent Numbers 9,922,561 and 9,922,562 which cover all aspects of the system and technology behind the MyPark application and company. The patents are critical to MyPark’s continued growth, particularly for their franchise partners.

Coming soon, MyPark plans to expand its parking application at a worldwide level through franchises.

About MyPark

MyPark is a revolutionary IoT solution that enables the monetization and control of premium parking spaces at high traffic, high value spots, while offering the user the most convenient and fun way to park. We accomplish this by combining our unique MyPark device with our user friendly reservation and payment app, making MyPark a complete solution for providing convenience as well as a powerful management tool. MyPark, which has two unique and patented technologies is used by malls, private and public garages, and property management companies, MyPark solves the hassles of crowded parking lots and garages and brings greater efficiency, enforcement, monetization and user control to the parking process. The system operates in an autonomous fashion reducing operating expenses while improving the customer experience. Founded in 2013 in Miami, Florida, MyPark is a South Florida owned, designed and engineered platform with national presence.

PRESS CONTACT:

Alessandra Gonzales or Greg Rios for MyPark
Alessandra@carvecomms.com or Greg@carvecomms.com

786.337.3026 or 954.593.3074