Arrive - Smart Parking Solutions
Originally founded as ParkWhiz, Arrive provides smart parking services that streamlines the mobility experience.
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Formerly known as ParkWhiz, Arrive offers smart parking solutions. It provides a seamless experience that predicts and recommends best parking solutions for people’s journey. These mobility services are offered through apps, websites, voice platforms and in-dash integrations. They include smart cities, automakers, fleets, venues, navigation and voice platforms, as well as its own ParkWhiz and BestParking consumer brands.
Arrive is headquartered in Chicago, US. It has raised $61.1M in funding over 6 rounds with its latest funding in February 2020. It is funded by 16 investors and has acquired 4 organizations.
About Arrive: Website, LinkedIn
Business Overview and Products
Arrive is the leading provider of solutions for the last-mile of mobility. It has partnered with over 100 companies, municipalities and car manufacturers to integrate its parking solutions. It enables drivers to reserve, locate and access guaranteed parking space through its ParkWhiz and BestParking applications as well as developing voice control and in-dash navigation systems. Essentially, by purchasing parking through its applications, drivers can easily enter and exit parking lots or garages without making a reservation or taking a ticket at the gate.
Arrive started out targeting the fragmented North American parking market. It now has major distribution partners such as Amazon Alexa, Ticketmaster, Honda and TomTom.
How It Works
Arrive provides cutting-edge technology related to mobility. It ensures drivers, fleets and connected vehicles reach where they are going without any bumps in the road. For this, Arrive partners with companies, brands and municipalities to provide smooth parking and other mobility-related services.
Arrive-powered technology can help optimize Smart Cities by creating a connected urban ecosystem that includes transit, tolling, parking and other mobility services. It helps municipalities of any scale integrate parking into one seamless network through technology such as Bluetooth sensors and beacons, as well as parking inventory to power city apps and other connected products.
It can be integrated into vehicles, offering friction-free parking solutions for the drivers and connected vehicles of fleets and mobility companies. Arrive partners with landowners and parking operators to offer short-term parking rates and easy access to facilities.
Arrive offers its solutions for venues and events. It provides pre-sale services and ticketing-parking bundling for hundreds of venues across the US and Canada. Fans can book parking from the time they buy tickets to the days leading up to – and including – game day.
It also offers parking solutions for local and real estate. It makes it easier for tenants and visitors to real-estate property. Clients who utilize this service benefit from Arrive taking the hassle out of parking so their customers can enjoy the rest of their on-site experience.
Business Model and Pricing
Arrive operates as a marketplace connecting drivers with parking facilities.
Instead of setting prices for the parking facilities, it allows its facility partners to set the rates. Arrive monetizes on both ends – charging both consumers and the facility a small fee. Although their take rate is not listed online, when the company launched it was reported to be 10% for consumers and 15% for parking facilities.
In 2019, Arrive launched dynamic pricing for lots and garages across the US through its ParkWhiz and BestParking apps. After its first deployment of this model, Arrive experienced the following surges:
An average revenue uplift of 163% across the US when booked through ParkWhiz and BestParking.
The total number of transactions on ParkWhiz and BestParking increased by 137% on average.
50% increase of occupancy during periods of low demand.
257% increase of multi-day transactions for urban locations with ParkWhiz or BestParking.
The Arrive platform powers two award-winning consumer apps, ParkWhiz and BestParking. Over 40 million people to date have used these web, app, voice and API-based solutions to find and book convenient, economical parking. These customers are from 230 cities across the US and Canada. They have access to the largest transactional parking network in North America through Arrive-powered parking reservations and drive-up, friction-free parking.
Arrive has about 500+ distribution partners, who enable customers to access Arrive-powered parking solutions.
Aashish Dalal (LinkedIn): Co-founder and Chairman of Arrive. Aashish is a leading expert on e-parking and is published regularly in industry trade journals. Prior to Arrive, he worked at IBM Global Business Services.
Jon Thornton (LinkedIn): Co-Founder and ex-CTO of Arrive. Jon is an experienced engineering leader with deep product development and people management experience. Currently, he is the Director of Engineering at Squarespace.
History and Evolution
Arrive was founded in 2006 originally by the name of Parkwhiz. It started out by offering 2 parking-related apps in North America: ParkWhiz and Best Parking. Both apps are still active today and enable users to locate, book, reserve and pay for parking without any hassle. Around 2017, the company started offering its technology and network to any business looking to provide parking as a service, eliminating the hassle of having to build the infrastructure from scratch.
Today, Arrive’s clients include car and navigation companies, sports and theater stadiums, and connected cities. In fact Arrive has a diverse, top-tier clientele: entities that use the company’s technology include major sports teams in North America (such as NBA, NFL and NHL), major ticketing platforms (such as Ticketmaster, SeatGeek, and tickets.com) and top auto companies (such as Honda, General motors, and Ford) who integrated Arrive’s technology into their cars. Even cities going for smart ecosystems (such as Sacramento, Detroit, and Las Vegas) have been integrating the technology.
In 2018, Arrive acquired an Israeli company called CodiPark, which became a source of important R&D for Arrive. To scale from a consumer app developer to an enterprise company, CodiPark provides important human resources in the form of engineers. In the future, the company aims to achieve complete friction-free mobility, by bringing together different vendors to form a fully connected ecosystem. It aims to make mobility smooth and seamless which allows customers to plan their travel routes through a single app or interface rather than multiple apps.
In January 2021, Arrive merged with Flashparking, with the aim to help parking garages via digital parking solutions and a range of micro-mobility tools designed to reimagine what a parking garage can be.
In December 2019, Arrive announced its plans to open its first R&D center in Tel Aviv to spur growth which began from the acquisition of Israeli CodiPark in 2018. The company plans to swiftly expand its employee base of developers there as well.
In June 2020, Arrive launched a new payment option. This option simplifies the payment experience for drivers by allowing anyone having Apple Pay or Google Pay to tap a sign, authorize payment and park without touching any tickets, buttons or payment machines.
In January 2021, it was announced that Arrive would merge with FlashParking. The combined entity would offer B2B and B2C seamless digital parking solutions and mobility technologies that would drastically improve consumer parking and mobility experiences.
In March 2021, Arrive announced a partnership with Luum, where Arrive’s Smart Parking service would be made available to employers through Luum’s Commute Management Platform.
There is a scope for offering parking services in North America because there are no single governmental entities that handle mobility and parking. There are actual inconsistencies amongst municipalities, which cause further fragmentation in the parking market.
The coronavirus pandemic has also been responsible for changing commuter and parking behavior. Consumers increasingly want a flexible, connected experience to navigate the changing mobility environment. They prefer convenient access to parking with contactless payment. In an article from 2021, several observations were noted:
Personal car usage is increasing with nearly 40% of commuters in major U.S. cities driving alone to work post-COVID, as opposed to the 23% who drove solo to work pre-pandemic.
Electric vehicles are becoming viable contenders to traditional gasoline powered vehicles. EV sales in the US in 2020 were up by 10% while ICE vehicle sales were down by 15%.
Micro-mobility and food and grocery delivery have seen historic use, and it is expected this will only grow.
In light of these changes, the parking industry has very lucrative opportunities.
Suggested Next Reads
CEO of Mobility Company Arrive Shares His Vision of the Future of the Industry (CTech, January ‘21)
Flashparking and Arrive Mobility agree merger to create seamless digital parking solutions (Auto Futures, January ‘21)
Parking Startups Are Cashing In On America’s Traffic Surge (Bloomberg Businessweek, July ‘21)
The Arrival of Seamless Parking (Middle Market Growth, June ‘20)