# i PARKING

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/i-parking

- Industry: Software
- Headquarters: Seoul, South Korea
- Website: www.parkingcloud.co.kr
- Total disclosed funding: $13M
- Latest round: Series B (Aug 16, 2017)
- Investors on record: 4

## About

Based in South Korea, i Parking provides advanced parking solutions through a cloud platform, enhancing management for users and providers. The company focuses on smart technology to optimize parking operations.i Parking, founded in 2009 and headquartered in Seoul, South Korea, specializes in innovative parking management solutions. The company has completed four deals, with its latest funding round in February 2022 raising KRW 100 billion from NHN Investment and SK E&S Co. Ltd. This funding will support talent recruitment and the establishment of an R&D center focused on cloud computing and IoT technologies. The company is led by CEO ??? Shin.i Parking specializes in providing advanced parking solutions centered around a cloud platform. The company offers a comprehensive suite of products and services designed to enhance the parking experience for both users and providers. Its core offerings include smart parking management systems, AI License Plate Recognition (LPR) cameras, and mobile application services tailored for real-time parking space management and guidance. The technology benefits a diverse client base, including major retail chains, airports, and commercial buildings, with notable customers such as Starbucks, Homeplus, and various national airports. These solutions have been instrumental in addressing common parking challenges, including the need for efficient space utilization and improved user accessibility. i Parking's services are deployed across multiple regions, contributing to a diverse market presence beyond its home territory, specifically targeting metropolitan areas and high-traffic commercial zones.In the most recent fiscal year 2024, i Parking generated revenue of KRW 69,211,066.60 and reported an EBITDA of KRW 374,044.60. The company generates revenue through structured service subscriptions and equipment leasing agreements, engaging clients through tailored contracts that include installation and maintenance of parking management systems, often supported by ongoing service fees. The pricing strategy reflects the value of its advanced technology and the operational efficiencies it delivers, with service plans designed to accommodate varying client requirements. Additionally, i Parking leverages partnerships within the real estate and retail sectors, enhancing its revenue streams through collaborative ventures focused on smart city initiatives and sustainable infrastructure development.Following its latest funding round in February 2022, i Parking aims to recruit new talent and establish an R&D center for cloud computing advancement and IoT technology. The company is also planning to expand into new geographic markets, specifically targeting metropolitan areas in Southeast Asia by 2025. This strategy is expected to enhance its product offerings and market reach, leveraging the recent investment to support these initiatives.

## Funding rounds

- Series B, Aug 16, 2017, $13M — Korea Development Bank, Korea Investment & Securities, Samsung Venture Investment, HB Investment

## Investors

- Korea Development Bank (https://capitalatlas.ai/funds/korea-development-bank) — Series B
- Korea Investment & Securities (https://capitalatlas.ai/funds/korea-investment-securities) — Series B
- Samsung Venture Investment (https://capitalatlas.ai/funds/samsung-venture-investment) — Series B
- HB Investment (https://capitalatlas.ai/funds/hb-investment) — Series B