Portfolio News

The Arrival of Seamless Parking

This article was first published by Middle Market Growth.

Finding a parking space is something drivers do every day without much thought. Dan Roarty was among those who didn't pay much attention to it, until the founders of Chicago-based tech company Arrive approached him in 2017 to talk about parking's role in the future of mobility.

"We talked about car sharing, ride share scooters and bikes, fractional ownership of cars, electric vehicles, autonomous vehicles and hyperloops," says Roarty, who is now Arrive's president and chief operating officer.  "What became clear to me is that parking was a necessary ingredient to the success of all of those things."

With decades-old meters and ticket machines spread across thousands of operators throughout the U.S. and Canada, the parking industry was unable to integrate the latest mobility platforms, like mobile phone applications, let alone those in the future - but it was fertile ground for innovation.

Read more on page 19...

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