MyPark

MyPark offers a technology-driven solution to parking challenges in high-traffic locations, addressing the market for premium, reserved parking. Founded in 2014 by Luis Mayendia and Ricardo Blanco, the Miami-based company has developed an IoT system for booking and managing premium parking spaces. The firm targets property owners of malls, condominiums, and other venues where parking is a significant stressor for guests.

The business model centers on generating incremental revenue for property owners by converting prime parking spots into a guest amenity. MyPark operates on a commission basis with parking lot owners who list their inventory on the platform. The system is designed to be fully automated, from reservation to enforcement, providing a more secure and convenient alternative to traditional valet services. This approach allows property managers to enhance the guest experience and increase the value of their properties by offering a sought-after convenience.

The core of MyPark's offering is its patented reservation and enforcement device paired with a user-friendly mobile application available for both iOS and Android. Users can reserve a specific parking spot up to six months in advance. Upon arrival, the driver uses the app to lower a mechanized barrier, securing their spot. The system also includes a robust backend and a web application, allowing access without needing to install the mobile app. This technology holds three U.S. patents and multiple international trademarks. Recently, the company introduced "Parky," an AI agent, to handle bookings, support, and even provide revenue projections for property managers, further streamlining the user and operator experience.

Since its inception, MyPark has secured funding to fuel its growth, raising a total of $8.65 million. This includes a seed round in 2018 and a later-stage venture capital round in November 2023 amounting to $6.5 million. The company's achievements include winning the 2022 Miami Chamber South Business Excellence Award for Innovation and Technology, a testament to its impact on the local business landscape.

Keywords: parking reservation system, IoT parking solution, smart parking, automated parking enforcement, premium parking, mobile parking app, revenue generation parking, valet alternative, parking technology, Luis Mayendia, Ricardo Blanco, parking management, amenity parking, EV charging enforcement, guest parking solutions, real estate technology, proptech, airport parking, mall parking, stadium parking, condo parking