Inrix Buys ParkMe To Add Sensible Parking Providers To Its Actual Time Visitors Knowledge
Inrix, a startup out of Washington that gives actual-time visitors and different knowledge to automotive corporations like BMW and Tesla, tech corporations like Samsung and Google, and four hundred different enterprises, has made an acquisition to increase the options that it gives to its customers. It has purchased ParkMe, a startup out of Santa Monica that gives “sensible parking” providers to customers, together with discovering and reserving parking areas and paying for them by cellular.
The phrases of the deal usually are not being disclosed, however Steve Banfield, Inrix’s chief product and advertising officer, tells me that it’s a money and share deal, the place each co-founders Sam Friedman and Alex Israel are becoming a member of Inrix to proceed creating the product.
The transfer comes at a key time in digital mapping, with Nokia lately promoting off its Right here mapping enterprise to a automotive consortium for $three.07 billion, amid curiosity from a variety of tech corporations trying to increase their recreation in location providers to construct out their presence on smartphones, in automobiles and over different related units.
Some have even floated the thought that Inrix, which has raised over $143 million from buyers like Kleiner Perkins and Intel Capital, is perhaps the subsequent huge takeover goal within the mapping world.
This acquisition shouldn’t be the primary dance for Inrix and ParkMe. The 2 have been partnering on providers for about three years already, Israel tells me. That’s a part of the rationale why an acquisition made sense for the corporate. One other appears to have been scale: ParkMe had raised round $eight.three million from buyers like IDG Ventures, however the final spherical was again in 2012. In a market crowded with parking apps, “there’s been lots of consolidation within the [smart parking] area,” Israel stated.
Inrix, for its half, has been rising at an honest tempo and now has clients in forty two nations. Different clients along with Tesla and BMW embrace Audi, Toyota, over 60 departments of transportation within the U.S. and the Highways Company within the UK.
And whereas Banfield confirms that Inrix does work with Google, he wouldn’t specify on what, besides to verify that a pretty profitable deal it signed in 2011, offering actual-time visitors information for its mapping and navigation apps, was not in place as Google now supplies that info itself by way of its acquisition of Waze and different sources.
Certainly, whereas visitors info stays its primary product, Inrix has additionally diversified into other forms of knowledge, like offering visitors security info to drivers, particularly round street circumstances; extra detailed info to drivers round close by fuel stations; and knowledge to enterprise that may, for instance, assist them higher plan the place to open their latest retail places.
This new wave of enterprise is the place ParkMe will slot in. The smaller startup’s database already covers 20 million areas worldwide throughout over three,000 cities in sixty four nations, with the product utilized by lots of of hundreds of drives, Israel says. The thought now will probably be to make use of Inrix’s muscle to broaden that much more.
That is Inrix’s third acquisition.