# Parknav

Help drivers find on-street parking

## Elevator pitch
We use artificial intelligence to help drivers find available on-street parking in real-time.

- Canonical URL: https://wefunder.com/parknav
- Entity ID: wefunder:company:8730
- Last updated: 2026-06-16T05:02:07Z
- Generated at: 2026-06-16T22:16:01Z

## Quick facts
- $3M+ revenue to date, 200% customer growth, BMW, T-Mobile parent, Siemens
- Village Global VC with LP investor Jeff Bezos, Eric Schmidt, Marc Zuckerberg
- All-star team Techstars, multiple exists, $1B value to investors, Stanford CEO, Prof UIUC, Top 10 AI
- $7B Market for parking-finding service, Smart City AI IoT market $120B growing rapidly
- 1.5 Billion Searches for Parking Daily Worldwide. Parknav AI charges per parking search
- Parknav first to market, 5 patents, technology high precision up to 95%, competitors at only 60%-75%
- Named "Best Startup to Invest" by Investors Place 2022, GARTNER Cool Company Data and Analytics
- Partners include Microsoft Ventures Accelerator, Startupbootcamp Berlin, Volkswagen PlugAndPlay

## Active fundraises
- wefunder:fundraise:54729: 4(a)(6) successful (USD)
- wefunder:fundraise:54730: 4(a)(6) successful (USD)
- wefunder:fundraise:38408: 4(a)(6) successful (USD)
- wefunder:fundraise:5190: 506(b) successful (USD)

## Story
If you’re like most people — finding parking for your car can be a nightmare.From dealing with finding an open spot — how far it is from where we're going and how much it’s going to cost. It many times takes over 10 minutes for us to find a place to park our car.So we decided to do what should have been done years ago, develop a solution that tells you in real time if there is a parking spot and where, covering all city streets 24/7.And we did it. We developed the right technology, combined it with an IoT business strategy, and deployed it to customers. And now we are ready to scale with customers, cities, and much beyond parking.Our technology works -- and we have the traction to prove it Parknav provides real-time information on where exactly parking is available for drivers when they need it. The way that we do this is using AI that we built at a number of levels. It uses much historical precise data that we source or get from our partners (for example, where people paid for parking) together with real-time not-so-precise data (for example, where people are right now, such as mobile phone counts).We put a lot of work into sourcing the data and combining it in such a way that our determination of available parking spots is precise and timely. That is our Parknav platform. We then deliver the information to drivers thru our customers, such as mobile-payment-for-parking apps and car manufacturer’s in-dash navigation systems.We built and patented artificial intelligence that can analyze data generated by cars manufacturers, telecommunication companies, insurance companies, car-sharing services, mapping companies and many other sources, along with our own proprietary data. This platform now uses a lot of data that all provide pieces of the puzzle on calculating where at a given moment a parking spot is available. Invest in an experienced, award-winning, internationally recognized data science and leadership team.Parknav® was launched in 2015 by award-winning Professor and Data Scientist, Prof. Dr. Eyal Amir, whose 25 years of research is the foundation for our groundbreaking, patented and innovative technology. And our team experience doesn’t stop there—encompassing multiple exits, IPOs, and more..Customers trust our patented technology, which is available for 1,000+ cities in North America and Europe.In 2021 we increased our customers 200%. To do this we brought on board a team that knows how to produce, scale, and sell. Parknav's® patented technology is trusted by some of the most well-known luxury automakers in the world (including BMW), the largest global telecommunication companies (including Deutsche Telekom), and large-scale Smart City service providers (including Siemens).We're backed by Village Global, which includes some of the world's most well-known technology leaders.Parknav® received investment from the California-based Venture Capital firm Village Global VC, which is backed by Diane Greene, Bill Gates, Jeff Bezos, Mark Zuckerberg, Sara Blakely, Reid Hoffman, and more! Parknav® was also part of Microsoft Ventures Accelerator, Startupbootcamp Berlin, Wayra O2/Telefonica/Hyundai Accelerator, and the Volkswagen PlugAndPlay Accelerator.Parknav® makes finding a parking spot easy and fast.Traditionally, cities and businesses have relied on dedicated, physical parking sensors to determine real-time parking availability. This costs cities and people a lot of money and time and is neither practical nor scalable. Our solution is a precise, AI data-driven product that’s 100x more cost-effective—thus, 100x more scalable—and much more accurate. Here’s how we compare:Parknav® uses data to determine real-time parking availability.Parknav® uses AI to identify available on-street parking in real-time. It is the only scalable solution that uses zero hardware and works on every street, 24/7, for all types of on-street parking (including free, metered & permit). Additionally, our technology predicts so much more than parking—and this investment opportunity includes these future opportunities.We use artificial intelligence to analyze data generated by cars manufacturers, telecommunication companies, insurance companies, car-sharing services, mapping companies and many other sources, along with our own proprietary data. This makes Parknav® the most accurate solution available.Parknav® is poised to be the center of the IoT revolutionThis impending Internet of Things (IoT) Smart Cities revolution is demanding our unique technology expertise and we're prepared to scale rapidly to capitalize on this momentum. The potential of Parknav® to improve Smart Cities is boundless: from enhanced citizen and government engagement to reduced environmental footprint, improved infrastructure and life quality for urban dwellers.So much more than parking.The AI-driven technology that powers Parknav® has predicted more than just parking. Our roadmap including predicting "EVERYDAY" situations (predicting what is occurring outside, such as where can I find a place to sit), "FIREHOSE" predictions (what is occurring off the street, such as does your favorite grocery store have your favorite toilet paper in stock) and "PERSONALIZED" predictions (what will happen to you later in the day, such as how is your health).This technology is extremely exciting and is ALREADY proven with the success of Parknav ®.Parknav® will help build the Smart Cities of the future.Modern cities will have more traffic and less parking. Autonomous vehicles can park themselves, but Parknav® will provide the missing piece of the autonomous parking experience. We’ve already identified many more potential applications of our technology and data set, and it’s clear that Parknav® will play a significant role in making the Smart Cities revolution better.

## FAQ
1. **I know the deals are confidential but can you make any concrete revenue projections for the next 12 months?**
   - Hi Will, Thanks for this question. Our advisors and significant investors feel confident about our revenue trajectory and growth momentum. In a business like ours bookings are as if not more important than revenue per se. Bookings are often multi-year contracts with values often greater than funds received over one period. If we perform the way that we believe we can perform, revenue over the next several years is in the 9 figures. Revenue projections are by definition inaccurate for early st...
2. **How big can Parknav parking navigation get? Then what other ways will you monetize your data?**
   - Hi Ben, Parknav's Parking Navigation is going to be part of everyday navigation within a few years, being embedded in present household navigation solutions and also in emerging ones. Many of those would be embedded in the car directly or via one's mobile devices. Beyond real-time parking, Parknav already sells parking analytics data (e.g. how much time it takes to park on average around a property). Finally, beyond parking, Parknav's data is going to be valuable to marketing automation, lead...
3. **How does parknav differ from parking panda or spothero? What tipping point are you aiming for prior to seeking a Series A? What type of patents do you have or seeking in the U.S. And EU to prevent your business model to be duplicated in other parts of the world?**
   - Hi Dilraj, Parking Panda and SpotHero are great at making reservations for parking lots. We partner with such companies. Parknav provides the on-street real-time availability of spots, and when drivers see all red (hard to park) close to their destination these partners provide the option to reserve a spot in closer off-street garages. The technologies and business ecosystems for the two types of companies are touching but very different. Consequently, we expand much faster, sell primarily B2...
4. **How does Parknav compare to Parko.**
   - Hi Sarit, The main difference is that our solution works. :-) Eyal
5. **As an angel investor can I invest in your business? if yes, then contact me via email for further discussion.**
   - Hi John, I believe you want to contact the WeFunder guys for this. If for some reason you cannot, please let me know and I'll contact on your behalf. Eyal

## Team
- Eyal Amir (CEO)
- Igal Elon Chemerinski (CRO)
- Simon Arazi (VP of Product)
- Juan Mancilla (CTO)
- John Alan Leney (SVP Business Development)
- Hugo Van Der Linde (SVP Corporate Development)
- Marisa Schneider (Sr. Manager Administration)
- Rutuja Gole (Marketing Assistant)
- Stevan Jovanovic (Data Entry Team Leader)
- Michael Kerkhof (Investor Relations Manager)
- Rekha Meena ( Accounting Administrative)

## Recent posts
- Parknav Campaign Closing Today!⌛ (2022-07-15T14:30:59Z)
- Campaign closing in 1 day!⌛ (2022-07-14T14:55:14Z)
- Parknav campaign closing in 2 days! (2022-07-13T16:05:10Z)
- $450k Milestone reached - 3 days left to invest! (2022-07-12T16:58:15Z)
- [Video] Parknav progress update 📈 (2022-07-12T14:01:04Z)
- 7 days left to invest (2022-07-08T15:32:30Z)
- Huge Growth Milestone🔥 (2022-07-07T14:10:37Z)
- Parknav campaign is closing in 10 days! (2022-07-05T16:36:53Z)
- Parknav surpasses 1 Million API calls per month (2022-06-30T15:58:11Z)
- Parknav on WeFunder is closing soon! (2022-06-27T16:42:02Z)
- Parknav awarded 1st place 🎉at Viva Technologies 2022 🥳 (2022-06-23T17:24:15Z)
- London, Here we come! (2022-06-14T18:48:51Z)
- First Customer for New Parknav City Portal (2022-06-09T16:40:25Z)
- Growth Accelerates Q1 (2022-06-02T16:27:09Z)
- Parknav City Portal Launch 🚀 (2022-05-26T16:37:08Z)

## Q&A
- Q: Hi, for the convertible note is there a prospectus? The info seems vague. 1. How many shares would 1000$ get you if the convert was converted. When does the convert expire? Does it pay any interest? Can it be called and if so at what premium and date. Who does the valuation and when? What is it's seniority to other debt?
  - A: Hi Rob, thanks for the question. The Form C (https://tinyurl.com/parknav-wf21-form-c) is considered that "prospectus". You can find it at the bottom of Details tab of this website. Specific info about terms is available in the Form of Note for early investors, which is part of Form C, also here: https://tinyurl.com/parknav2021-wf-early Your first question, namely the numbers of shares for $1000, depends on many assumptions, but hopefully you could calculate by yourself with the number of shares outstanding stated in Form C under "DESCRIPTION OF ISSUER'S SECURITIES". Let me know if you don't find answers easily there, and I shall help.
- Q: Are you able to reflect real time availability or do you predict availability based on historical data? If the data is real-time, how long is the delay between somebody vacating/taking a parking spot and this information being reflected in the app?
  - A: Hi Maurice, we determine real-time on-street parking availability. We use artificial intelligence to analyze data generated by cars manufacturers, telecommunication companies, insurance companies, car-sharing companies, mapping companies and many other sources, along with our own proprietary data.
- Q: Is your product being developed to comply with the parking industry's emerging APDS data exchange standards?
  - A: Hi Kevin, thanks for this question. The APDS standard is developed to serve payment systems. Parknav is focused on information provisions regardless of whether payment is required or parking is completely free. We do work with a number of other standards, and would be very happy to participate in helping shape APDS to also include realtime information for parking whether payment is required or not. I feel that this shall serve drivers more broadly than just focusing on payment alone. Want to continue the conversation? Email us at corporate@parknav.com. Looking forward! --Eyal Amir, Parknav CEO
- Q: 1.What is your business model? How do you make money? I can not find this info anywhere even in the pitch deck. 2.How big can you become? what is the exit plan? 3.How many clients do you have, B2B Partner or B2C ? Thanks
  - A: Thanks for your interest and your questions! (1) our business model is based on charging our customers SaaS for services we provide from our SaaS platform, and our pricing on our website should give you a more information on how we monetize our unique platform with patented AI technology and processed big data. (2) we have projected a growth to $120m annual revenue (as shown in our deck), and expect, though cannot guarantee, that we shall reach so and go beyond. (3) Our clients are large enterprises, with a growing set of smaller B2B. Some of those that we can disclose are listed in the deck here on WeFunder.
- Q: Any recent financials available? Any plans for an exit strategy? I, and I'm sure other investors, would appreciate a recent update.
- Q: Why did revenues decline in 2021 vs 2020? What are you doing in 2022 to right the path and how did Q1 2022 perform? Can you provide more detail of your historical intangible assets investment cash flow?
  - A: Hi Nicolas, thank you for a very relevant question. Please allow me to respond to this comprehensively. Covid-19 and related trends continued to put downward pressure on the mobility market in 2021. Enterprise customers have been more resilient than others, but the strong decrease in people mobility worldwide caused them to change investments in the short term. Also, travel restrictions and decreased activity in the mobility market caused deals to slow down. On the positive side, government spending on smart city has increased worldwide, and political changes occurred that are promising to increase spending further on this market, but those took time to trickle down and we start to see their effect in 2022. Also, a new market for IoT and AI has started opening up, with early adopters starting to buy in 2021 but with smaller deal sizes. These market trends coincided with our realization in 2020 that the company can achieve faster and safer growth to a larger market by switching to SaaS (Software as a Service). This was implemented in 2021, moving away from Enterprise focus which requires substantial consulting component to SaaS to SME (Small and Medium Enterprises). This already resulted in growth in the number of customers that we had from 2020 to 2021 by 200%, and we expect, though cannot guarantee, that the same would be in 2022 compared with 2021. Those deals being smaller, though faster to close, are promising for faster and solid growth, but in the near term caused lower revenue in 2021. In conclusion, we expect, though cannot guarantee, that revenues in our updated business model shall increase to $30K/month MRR average revenue in the next 6 months, with further growth at very fast pace soon thereafter. Best, Eyal
- Q: How does the effective price/share in this round compare with the April WeFunder raise, which was a convertible note? I see you have $4.65 early bird (and presumably $5.31 after this) compared with $5.02 in startengine.
  - A: Hi Iain, many thanks for your question. Indeed the share price in this campaign is higher than that of the previous one at StartEngine. The early-bird price in this campaign offers a discount, and so did the early bird at StartEngine. This opportunity expires when we reach $300K in this round. Regarding the convertible notes from April, depending on surpassing $1MM (* see below) in this round, this note will convert into equity based on the cap of that note (e.g. $50M). Once this round closes (and assuming conversion occurs), then we shall calculate the consequent pricing per share that you receive for your note. Assuming these, holders of that note (eg at valuation $50M cap) would convert at a price per share that is much lower than the price at this round (valuation $80M). Side Note: by helping us spread the word and surpass that $1MM (*) raise in this round, you help make the notes convert. Hope this helps! Best --Eyal, Parknav CEO *(as part of the Qualified Financing mentioned in the Convertible Note of April 2021; the terms on the note prevail in any conflict with my explanation above)
- Q: You reasonably mention "We don’t have to just tell you our technology works, because we have the traction to prove it." Please share your traction metrics. You have $50M Series B valuation, so at least Series A key metrics to make an investment decision are essential (https://www.ycombinator.com/library/1y-key-metrics): • Total customers • Bookings • Monthly recurring revenue (MRR) • Revenue CMGR • Gross margin • Gross account churn • Net dollar churn • Customer LTV / paid CAC • Quick ratio: a measure of a company’s short term liquidity • Magic number: a measure of sales efficiency that looks at what the output of a year’s worth of revenue growth is per dollar spent on sales and marketing • Burn rate / runway Could you please share them so we could see the trends of your company, the consistency and the past data. If you have inconsistent data (pitfall #2, https://www.ycombinator.com/library/1z-the-importance-of-trends) as many startups do, please elaborate on the reasons. Could you please advise how did you come up to $50M valuation cap as well.
  - A: Hi Aldert, thanks for your interest. Please see our annual reports and other info on this Wefunder website, specifically the deck under tab "overview" and also our Form C submission under tab "details", to find some of the metrics you are looking for. Some others may not be available for commercial or other reasons. Please also notice that this is a Seed raise rather than Series B.
  - A: Hi Aldert, thanks again for your question, here are some metrics that I can share with you publicly (if you are accredited, please email me at corporate@parknav.com): 1. MRR: $13,000 2. Gross margin: COGS are presently only cloud costs, so gross margin is very high. 3. LTV/CAC: our deals are not yet consistent enough to offer an honest measure here. Notice that we are at Seed (not sure why you mention we are Series B). Other measures will be provided when we are at Series A! Best, Eyal
- Q: How do I make money by investing in this company?
  - A: Hi Susan, thanks for your question! Your investment shall convert into equity (stocks) when the company goes thru a qualifying financing event (see Form C under Details on this page). We plan, though cannot guarantee, that the company shall IPO or get acquired in the future, and that you could sell your shares at profit then.
- Q: This tech seems like it will be a game changer for drivers, communities and society at large. Keep up the good work. I would like to know when FY 2020 financials will be released.
  - A: Hi Marco, thanks for your question! We provide some 2020 estimates in our Company FAQ and Form C, and plan, though cannot guarantee, to have consolidated and reviewed FY 2020 financials by June or July this year.
- Q: So your market strategy is licensing the technology?
  - A: Hi Tal, many thanks for your interest. Our marketing strategy is based on powering as many businesses and companies with our SaaS platform. So more than our unique AI technology only, and processing of corresponding big data, we provide them the full service and platform on which they can hook up to.
- Q: Are you using or do you intend to potentially use blockchain in your business?
  - A: Hi Jeremy, Blockchain distributed ledger technology can provide trust and transparency for vehicle owners, cities, and parking providers. Implementation of Blockchain in parking can provide significant help for Municipalities and Goverments to regulate parking on street and minimize traffic complications. Blockchain can store all the information regarding the duration of parking, efficient curb management, (or illegal parking) to calculate fines very quickly and efficiently. The ledger can keep information about parking spaces in the city allocated to handicap, Electric vehicule charging spots, loading zone, and specific spots contracted to particular residents. In addition, the Blockchain can serve as a platform for reviews by drivers about parking locations, service level . Another area where Blockchain can assist is to enable a land leasing system for parking lots or garages powered by smart contracts. The blockchain transparent ledger can leverage unused land for parking to be utilized by enforcing smart contracts.
- Q: Hi Eyal, it would be good if you could post an update for investors here.
- Q: can we get a financial update ?
- Q: Good day: Has a new round started on WeFunder?
  - A: Dear Clinton, Thanks for your question! There is no WeFunder round planned for Parknav at present. If you are an Accredited Investor I invite you to reach out to us at ir@parknav.com for investment opportunities. Looking forward to hearing from you there! Best, --Eyal