the Baltimore startup that finds a spot to put your car, is cruising into new cities and attracting new funding.
Within a few months, it will begin marketing in Philadelphia, its third site. San Francisco, Chicago and Boston are next on the list. Last month, it expanded to Washington, D.C. The company recently received $250,000 from investors, with another $250,000 in the works, CEO Nick Miller says. Miller founded the firm in 2001 with Adam Zilberbaum, chief technology officer.
The company doesn't have exact dates for the expansions after Washington, D.C., says Miller. In part, it depends on demand and how many parking spaces can be arranged.
locates available parking spots in private driveways and garages that drivers can reserve in advance on the web or via mobile phones. In Baltimore and Washington, D.C., it is working with two garage companies, PMI and Central Parking.
In addition, Parking Panda works with private home-owners and small business to rent their driveways, parking lots and garages. “We have quite a few private driveways that are rented for Ravens [football] games,” says Miller, who tries to line up parking for other events like festivals and farmers markets.
Also, he adds, “we work with certain neighborhoods, like Federal Hill,” where on-street parking is scarce and there are no parking garages.
Miller says the price the driver pays is set by the parking garage or driveway owner. Parking Panda takes a 20 percent fee on whatever is charged. “If they charge $10, we get $2,” he says.
Parking Panda has a few, small parking competitors in the area, says Miller.
”But no one is doing what we do, with parking garages and private parking.”
Source: Nick Miller, Parking Panda
Writer: Barbara Pash