Parkade Raises $10M to Reinvent Parking for Multifamily Real Estate
CREtech
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Parkade, the startup aiming to modernize and optimize parking management, has raised $10 million in a Series A round led by Navitas Capital, with participation from MassMutual Ventures, Nine Yards, CRV, Box Group, and Heartland Ventures. This fresh capital positions Parkade to expand rapidly across the multifamily residential sector, where it already serves customers in 23 U.S. states and three countries.
Parkade’s mission challenges the status quo of parking: outdated, rigid, and inefficient systems that often force developers to overbuild parking, contributing to higher housing costs and urban sprawl. With support from influential real estate players, Parkade offers a scalable, software-driven alternative that digitizes and automates parking allocation, access, payment, and enforcement—reducing headaches for property managers and improving flexibility for tenants and visitors.
Since launching in 2022, Parkade has grown 21x by helping customers like Crawford Hoying and Sentral achieve dramatic gains in parking revenue (up to 70% in some cases), while cutting parking-related workload for management teams by as much as 90%. Through integrations with platforms like Yardi, RealPage, and Entrata, Parkade has become a frictionless addition to property management systems.
As cities and developers grapple with reduced parking mandates and growing anti-NIMBY sentiment, Parkade’s value proposition is increasingly clear: smarter parking means fewer spaces are needed, more housing can be built, and developers can better monetize what used to be an operational burden. The company plans to use the new funding to further enhance its technology, including features like parking validation tools, mobile patrol apps, and user mapping.
Parkade’s long-term vision is to create an interoperable network of Parkade-enabled buildings, allowing anyone—resident or not—to find and book parking seamlessly. That future, the company suggests, could eliminate the need for excess parking infrastructure altogether, unlocking land for housing, green space, and community use.
