I recently caught up with Anthony Eskinazi (pictured below) to talk about what's happened at JustPark since raising on Crowdcube back in 2015. We talk about change, tech and the future...
Q: Tell us about how the business has developed since 2015 when you last raised on Crowdcube
Following our world-record raise in 2015, we have driven growth in two key areas: building 5-star rated apps and award-winning car park technology.
Our apps help drivers find parking in seconds, with 1.4 million spaces to choose from - providing real-time information on price, availability, restrictions and directions. Drivers can even reserve and pay at over 20,000 locations via the app to make parking even easier. The growth we have seen in our apps (up 105% in the last 6 months) - and our 5-star rating - has given us confidence that we have built a product that drivers love to use again and again.
Our industry-leading car park technology helps parking owners and operators to improve customer experience and maximise revenue. The JustPark Platform integrates payments from all sources (apps, website, over-the-phone solution, digital pay-on-foot machine) - giving our clients a single view of performance, and the ability to activate our pioneering dynamic pricing product to optimise their yield. Our technology is trusted by some of the biggest names in property and hospitality such as Marriott, Hilton, JLL, BT, Savills and many more.
Overall, this progress on both sides of the market has created the platform for financial growth to accelerate - with gross profit increasing by 93% in the last 12 months, and cars parked is up 380% since we last raised.
Q: You are making some real inroads as a software provider in the cashless parking (public and private) sector, can you expand on that?
Our mission is to make parking easy for everyone - and our work with local authorities, shopping centres, operators and hospitals has significantly increased our ability to do this. For both our clients and drivers, we offer a significant improvement over the incumbent products - our payments are fast, our notifications are smart, and our apps are a genuinely useful resource for drivers who are looking for the best parking space for their needs.
We are also thinking about how we can make the entire parking experience a positive one, even once a driver has parked their car. As an example, we are currently rolling out a digital validations product at a shopping centre in Northampton. Drivers park, go into a shop, make a purchase, enter their number-plate into an iPad application in-store, and then a discount is applied to their parking charge. This is one example of an innovation which helps our clients achieve their objectives and benefits the customer - saving them time and money.
Q: Once again, you have some heavyweight institutional investors participating in this round at the same valuation as the crowd, can you give us some more details about them and their track records?
We are delighted to have the continued support and backing of LocalGlobe and Index Ventures - two of the most respected names in venture capital. Their support, and particularly the mentorship provided by Robin Klein, has been instrumental in our progress over the last couple of years.
Index Ventures have a prolific record of backing winners across multiple industries and continents - such as Zoopla, Deliveroo and Skype - and LocalGlobe are one of the fastest growing seed funds in Europe, and have backed the likes of Citymapper.
Q: What does the future hold for the business?
Whilst growth has been strong since we last raised in 2015 - and has kicked on particularly in the last 6 months - we believe that we are now in an incredible position to accelerate significantly. Having invested heavily in our technology since our last funding round - on both the driver and property owners sides - we have achieved true product-market fit, have proven out our sales and marketing channels, and are poised to lead the £50bn parking industry into the digital age.
Check out JustPark's pitch page today and be part of its future.
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