London startup AppyParking has raised £2.25m in funding from Aviva Ventures and Breed Reply.
Founded in 2013 by CEO Dan Hubert, AppyParking created an app that helps drivers find the nearest and cheapest on- and off-street parking. The app, which informs drivers of any restrictions and tariffs that apply, started off just covering London, but it can now be used in 20 of the UK’s biggest cities including Birmingham, Edinburgh and Manchester.
The new funding will be used to roll out the service in more UK cities as AppyParking works towards its goal of being available nationwide.
Hubert said: “To receive this funding from Aviva, the UK’s largest car insurer and Breed Reply is a great endorsement of all the work my team have done so far. Our vision has always been to offer drivers Last Metre Navigation™ and functionality, and ultimately make parking a truly forgettable experience. This investment brings us one step closer to achieving our goal.”
Ben Luckett, managing director at Aviva Investors, said he believes data-driven solutions like that of AppyParking will play an increasingly important role as we move to a world of autonomous and connected vehicles.
“We look forward to working with the team at AppyParking as they grow the business further across the UK,” he added.
The investment follows the recent trial of One Click Parking in Westminster. This pay-as-you-park connected car solution uses tracking software to monitor when a driver parks and what time they leave, automatically debiting the correct amount of cash from their account. AppyParking hopes to roll out this feature nationwide in 2018.