Munich-based Peter Park, a technology company revolutionizing off-street urban parking with its fully digital platform, has received a strategic growth investment from Great Hill Partners. The investment will fuel Peter Park's expansion, enhancing its go-to-market capabilities and accelerating growth opportunities within the rapidly evolving urban mobility sector. Peter Park currently serves over 450 customers and manages more than 90,000 parking spots across Germany, Austria, Switzerland, and Italy.
The funding will enable Peter Park to scale its salesforce, expand its geographical footprint, and develop new growth opportunities. The company's innovative platform replaces traditional analog parking systems with AI-driven license plate recognition and a cloud-based system, offering streamlined operations and enhanced user experiences for both drivers and parking lot owners.
Great Hill Partners, a private equity firm with offices in Boston and London, led the investment. The firm cited Peter Park's sophisticated platform, seamless implementation, and customer-first approach as key factors in their decision. This investment builds on Great Hill's recent expansion into the UK and continental Europe.
Peter Park's success is highlighted by its impressive 274% year-over-year organic growth since 2021, demonstrating strong market demand for its innovative solution. The company is poised for significant growth as cities increasingly seek digital solutions to manage urban parking and reduce congestion.
