Get My Parking Story - Interoperable Smart Parking Platform
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Parking is an issue for everyone, from drivers to merchants to city governments. Unorganized parking creates a problem on multiple fronts. As per IBM Global Parking Index 2011, an average urban motorist spends 20 minutes more on road due to parking problems. This is not only a waste of time but also a loss of productivity. Thus, Get My Parking (GMP) was founded in 2015 by Chirag Jain and Rasik Pansare with a vision to make every parking transaction a sub-conscious experience.
Get My Parking is the provider of an Interoperable Smart Parking Platform that connects all parking and mobility stakeholders on a common platform who were until now operating in silos.
StartupTalky interviewed Rasik Pansare and Chirag Jain (Founders of Get My Parking) to know the Success Story of Get My Parking (GMP) along with getting a glance on GMP founders, Get My Parking Business Model, Funding, Revenue, Growth, How GMP works and more....
Get My Parking (GMP) - Company Highlights
| Startup Name | Get My Parking |
|---|---|
| Founders | Rasik Pansare (CMO), Chirag Jain (CEO) |
| Headquarter | Bangalore |
| Sector | Mobile-based Parking |
| Total Funding | INR 29.05 Crores ($4.476 Million) |
| Revenue | INR 14 crore (2020) |
| Website | getmyparking.com |
Lets go through the Journey of Get My Parking (GMP):
Get My Parking - About and Vision
How Get My Parking Works?
Get My Parking - Market/Industry Details
Get My Parking - Founders and Team
Get My Parking - Startup Idea
Get My Parking - Product/Service
Get My Parking - Name, Tagline and Logo
Get My Parking - Business Model and Revenue Model
Get My Parking - Startup Launch and Customer Acquisition Strategies
Get My Parking - Startup Challenges Faced
Get My Parking - Growth and Current Status
Get My Parking - Revenue
Get My Parking - Funding and Investors
Get My Parking - Acquisitions
Get My Parking - Competitors
Tools used by Get My Parking to run Business
Get My Parking - Recognition and Achievements
Get My Parking - Future Plans
Get My Parking - FAQs
Get My Parking - About and Vision
Get My Parking is the provider of Interoperable Smart Parking Platform that connects all parking and mobility stakeholders on a common platform who were until now operating in silos. It comprises a team of doers with a clear mission to digitize the parking industry globally.
Get My Parking (GMP) was founded in 2015 by Chirag Jain and Rasik Pansare with a vision to make every parking transaction a sub-conscious experience. With a strong foundation of team, technology and partnerships, it is creating a future proof platform to connect the parking industry internally as well with urban mobility players.
Ashwini
How Get My Parking Works?
Get My Parking offers end to end digitization of parking business in following three steps:
- Parking Connect: GMP IOT suite integrates all parking locations to the cloud, agnostic to hardware at an aggregate level as well as all equipment inside the individual parking lots with each other. This allows full control of parking operations to the real estate operators over the internet. (B2B model)
- Consumer Connect:
The GMP platform helps operators to launch customised mobile apps enabling digital discovery and transaction for their consumers. Get My Parking (GMP) have helped launch 7 unique parking apps around the world in multiple languages. (B2B2C model) - Mobility Connect:
GMP Platform connects parking systems and data to multiple 3rd party mobility companies, transforming dumb real estate into intelligent mobility hubs. This enables seamless use of parking for pick up and drops of shared mobility, storage and deliveries for e-commerce, EV charging, and on the fly automotive services. (Marketplace model)
Get My Parking - Market/Industry Details
The global parking industry market size is valued at USD 100 billion and is expected to witness significant growth over the next few years with the advent of connected vehicles and new modes of mobility and gig economy. Increased usage of vehicles for all forms of mobility and logistics, especially in urban centers, is driving the demand for a tech parking platform.
Devashish Shrivastava
Get My Parking - Founders and Team
Rasik Pansare(CMO) and Chirag Jain (CEO) are the founders of Get My Parking (GMP)
Get My Parking was founded in 2015. The CEO and Co-founder Chirag Jain had worked in the automobile industry and came up with this innovative concept. He then met with Rasik Pansare and started working on this as an experiment. By July 2015, they were convinced with the early results to plunge into this business full time and started Get My Parking officially.
Chirag Jain (CEO & Co-Founder, GMP)
Chirag Jain is the CEO and co-founder of Get My Parking, a venture he started in 2015 (based out of New Delhi, India). Chirag graduated from Indian Institute of Technology Madras (IIT Madras) in 2013 and worked in the Automotive Industry for 2 yrs before starting his entrepreneurial journey. He received the Young Entrepreneur Award from IIT Madras and also featured in business World- '40 under 40' Achievers. Chirag has keen interest in urban planning and was also awarded best delegate award at New York Global Young Leaders Summit under United Nations Development Program. He has spent over 6 months in South Korea, 3 months in Malaysia and other S-E Asian countries, and has sound knowledge of the overall ecosystem.
Rasik Pansare ( Co-Founder & CMO, GMP)
Entrepreneurial by attitude, Rasik is the co-founder and CMO of Get My Parking, an award winning startup that provides smart parking for smart cities. He graduated from FMS Delhi and was the President of the entrepreneurship cell there. He is an engineer and MBA by education but always aspired to be a change-maker. An engaging story teller, he has been a TEDx speaker, guest lecturer and speaker at several Smart City and Mobility summits in the past. He was awarded the Business Excellence and Innovative Best Practices Academia Award-2019' by Hon’ble Dr Manmohan Singh, Former PM of India at NDIM-Delhi. He likes to create, connect and share. An ardent foodie, he believes in the philosophy of “Live Life, not Exist” and encourages pursuit of passion.
Get My Parking - Team and Work Culture
Get My Parking (GMP) has been fortunate to have a very strong core team. Since the very beginning, founders have been very particular about the people they bring into the core team. It is a very close knit family with complementary skills. The core team comes from stellar backgrounds and has been critical in the formation of the organisation. GMP has 80+ young people with an average age of 28. It consists of highly motivated and passionate individuals who have been instrumental in driving the organization's success.
"We let our employees be a part of our culture definition process. We create polls, surveys, 360 feedback processes, etc. We have a talk with the employees, even during the pandemic we organized Virtual Peer Lunch, Fun Baithak, Annual Treat etc. We let our employees tell us how they want certain aspects of office culture to shape up" - Says GMP founders.
Get My Parking - Hiring Funda
The key to recruiting and retaining is mainly about meeting the needs on the top and thinking ahead, rather than waiting for a crisis to ensue.
"A talent pipeline should be developed to identify potential candidates, who can be continuously nurtured and approached when vacancies arise. We always look for people who are independent workers with a strong work ethic" Says Chirag Jain (Founder & CEO, Get My Parking)
Arbaz Sayed
Get My Parking - Startup Idea
As observed by Chirag and Rasik, billions of dollars have been invested in the mobility industry to make vehicles connected and ‘smart’ - but not in parking. It has remained an ignored and unorganized industry.
The traditional parking equipment still operates in silos. This is what led Chirag to come with a concept that could integrate parking and mobility. Chirag also had worked in the automobile industry that was also a vital factor. He then met with Rasik Pansare and started working on this as an experiment.
By July 2015, they were convinced enough with the early results to plunge into this business full time and started Get My Parking (GMP) officially.
Rishabh Rathi
Get My Parking - Product/Service
When parking businesses use technology, the traditional equipment operates in silos; at best, it will work together with other products from the same manufacturer. In today’s new era of mobility, one needs an ecosystem of integrated hardware and software components regardless of which version or vendor they all come from.
The GMP Platform delivers such an interoperable ecosystem. Get My Parking's solution can retrofit existing equipment in a parking lot, and upgrade the entire facility to a digitized one. There are multiple things that make GMP's concept stand out. The platform makes any parking equipment interoperable through IoT and retrofitting, it upgrades old parking infrastructure to a new future-proof ecosystem, thus transforming dumb parking real estate into intelligent mobility hubs. Also, it's easily customizable and scalable solution for any parking requirement on the planet.
In brief, GMP's (Get My Parking's) features are -
- plug-n-play ready to deploy functionality
- touchless parking solutions
- retrofits with the existing system
- speedy customizations
- white-label solutions, and
- low cost offering
Rishabh Rathi
Get My Parking - Name, Tagline and Logo
The name was decided by Chirag (Founder & CEO of Get My Parking). The mindset of Chirag was to keep it easy to understand just as Book My show. The initial logo was designed by Chirag himself and later they got a professional designer to make it.
The original tagline was B2C focused but we changed it later to suit our pivoted business strategy to B2B2C mode - Says the GMP Founders.
Thus, the Tagline of Get My Parking is 'Where Mobility Begins'.
Get My Parking - Business Model and Revenue Model
GMP's business model is pivoted towards B2B2C business strategy. Get My Parking (GMP) licenses its SaaS platform to the customers who are mostly big parking operators, smart city projects, and commercial landlords. It also charges for any additional customization (if required). And also, GMP licenses its parking data to automobile OEMs and mobility companies.
Vidhi Punamiya
Get My Parking - Startup Launch and Customer Acquisition Strategies
Get My Parking's startup launch was different. Instead of targeting a bunch of customers with a made product, it first went to a potential big customer i.e., a large parking operator in Delhi and pitched the idea of digitized parking. Once the operator was convinced and gave GMP a pre-order, Get My Parking was launched and team made the product.
Within a few weeks of launching, we had pre-orders for 45 parking lots. So what worked for us the best was traditional face to face sales for B2B onboarding - Says Chirag (Co-founder & CEO, Get My Parking)
The next phase, to grow from over 100 parking lots to 1000, Get My Parking had to adopt a multi pronged strategy. The GMP team used trade exhibitions to do brand awareness and product demos, and industry events and competitions for establishing thought leadership.
There was extensive role of digital marketing for targeted promotions. For international growth, GMP tied up with industry consultants who represented the company in those markets and strategic partners who could cross sell Get My Parking's offerings along with their products. Overall, it took a lot of perseverance and resilience to get to 1000 and eventually 2500+ parking lots globally
Get My Parking - Startup Challenges Faced
Being a fast growing company, our team is our strength - Says Rasik (Co-founder & CMO, GMP)
Hence the biggest challenge that GMP faces is hiring the right people, training, upskilling current team members, and maintaining the right culture.
Other operational challenges that Get My Parking faced involves resistance from certain industry segments having traditional mindset. Being the market creator and pioneer, it took a lot of convincing to influence the entire industry from scratch. Get My Parking also faced funding issues several times at an early stage with minimal revenue, but the GMP team have mastered the financial equation over the last couple of years with good inflow of revenues.
Avantika Bhardwaj
Get My Parking - Growth and Current Status
The smart parking platform is designed for every stakeholder in the parking and mobility ecosystem. Get My Parking has been able to deliver business growth and diversified value growth to its customers, who include some of the leading parking operators globally with multi-billion dollar turnover.
- Globally, GMP has over 2200 active smart parking deployments with active work orders in 17 countries.
- The smart parking platform has launched 7 different white label parking apps around the world in different languages and markets.
- The Get My Parking platform has processed over 50 million parking transactions till February 2021 (and counting).
- In India, in terms of active deployments, Get My Parking is present in 11 cities including Delhi NCR, Bangalore, Hyderabad, and Mumbai.
- In terms of static parking data, GMP is the largest aggregator and distributor of parking information, with comprehensive data of over 9000 parking lots of 50 cities in India.
- It has also done multiple government and smart city projects.
- One of the Get My Parking's major clients is APCOA Parking, which is Europe’s largest parking operator.
- Get My Parking also powered the world's largest event parking, Maha Kumbh Mela in Ujjain and IPL tournament previously.
Get My Parking - Revenue
In 2020, Get My Parking clocked in revenue of over INR 14 crore. GMP is projecting double the revenue for the upcoming month (March 2021)
Get My Parking - Funding and Investors
Get My Parking's total funding till date is INR 29.05 Crores ($4.476 Million) in 3 rounds of funding. GMP's most recent funding was led by IAN Fund, BEENEXT and Indian Angel Network for $3 Million in September 2017.
Get My Parking's Funding details are as follows-
| Date | Stage | Amount | Investors |
|---|---|---|---|
| Jan 2016 | Angel Funding | $376k (INR 2.5 cr) | The Chennai Angels (TCA) |
| Feb 2017 | Pre Series A | $1.1 Mn (INR 7.35 cr) | IAN, BEENEXT, The Chennai Angels, Hero Corporate Services |
| Sep 2017 | Series A | $3 Mn (INR 19.2 cr) | IAN Fund, BEENEXT, Indian Angel Network |
"Funding is an extremely significant aspect in line with meeting the vision of a business. These funding have helped us in acquisition, hiring, for expanding globally and to grow & sustain our business" Says GMP founders.
Jeenal Jain
Get My Parking - Acquisitions
Get My Parking acquired Bangalore-based Constapark in 2018.
Constapark had managed 30,000 parking spots on its platform and parks 4,000 vehicles on a daily basis across Bangalore. It was also chosen as one of the Top 5 Startups by CNN IBN & Ericson. This acquisition helped Get My Parking strengthen leadership in the domestic market.
Get My Parking - Competitors
The top competitors of Get My Parking include Flash Parking (US), Passport (US) and Smart Parking Ltd (Australia).
Tools used by Get My Parking to run Business
The right set of tools lets one organize the to do its best work. It lets to plan tasks and track who's doing what to make sure that the company is working in the most efficient way possible.
One of the tools that Get My Parking used for internal communication is Slack. For task tracking/ reminder it uses Asana. Some other tools that we use are G-Suite, Final Cut Pro, Zoom, Mailchimp, Canva, Active Campaign, etc.,
Yash Gupta
Get My Parking - Recognition and Achievements
Get My Parking got over 50 Million Parking Transactions processed by our platform in 17 countries. GMP also powered the world's largest event parking, Maha Kumbh Mela in Ujjain in the first year.
- 2017- Get My Parking got AWS Mobility Awards for the Travel App of the year in Emerging category
- 2017- The company got the UK-India Tech Summit - Tech Rocketship Award for Top 10 Indian Startups
- 2019- Get My Parking was awarded the NASSCOM Emerge 50 for the product - Smart Parking Platform
- 2019- Get My Parking won the Geospatial Excellence Award at the GeoSmart India 2019 summit.
Jeenal Jain
Get My Parking - Future Plans
Get My Parking have performed extensive deployments in Europe and Asia for some of the largest parking operators that operate across thousands of locations. Now, It’s expanding its footprints with focus on the American market with the help of our partnership with ParkTrans (an American smart city solution provider). Get My Parking also has promising leads in Middle East Asia & Asia Pacific. It is also creating a global sales network with freelance consultants as well as sales enterprise partners.
Get My Parking - FAQs
Who are the founders of Get My Parking?
Rasik Pansare(CMO) and Chirag Jain (CEO) are the founders of Get My Parking (GMP)
How much is Get My Parking funding?
Get My Parking's total funding till date is INR 29.05 Crores ($4.476 Million) in 3 rounds of funding. GMP's most recent funding was led by IAN Fund, BEENEXT and Indian Angel Network for $3 Million in September 2017.
What is Get My Parking?
Get My Parking is the provider of Interoperable Smart Parking Platform that connects all parking and mobility stakeholders on a common platform who were until now operating in silos.
Who are the competitors of Get My Parking?
The top competitors of Get My Parking are Flash Parking (US), Passport (US) and Smart Parking Ltd (Australia).
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