Frogparking expands globally after multi-million capital injection

April 25, 2017

 

Frogparking expands globally after multi-million capital injection

 

 

World-leading Kiwi parking technology firm Frogparking is on a major growth programme off the back of a multi-million-dollar investment.

 

 

Frogparking, co-founded by entrepreneurial father-daughter team Don and Shareena Sandbrook in 2010, has grown into a global export success with a wide range of major customers and partnerships across the United States, Europe and Australasia.

 

Managing Director Shareena Sandbrook says the investment, amounting to a 25 percent shareholding, will facilitate the company’s growth in its already well-established key markets, enabling it to meet escalating demand for its products and lead the charge into new markets.

“This is a $100 billion global industry and we are well positioned to take it on. We already have well-established distribution networks and partnerships, a suite of large customers using our innovative products and a great team of people here in New Zealand.

“With this investment, we can build on our successes and take the business to the next level of global growth, aggressively boosting our sales and marketing presence offshore, increasing our engineering and operations team and pumping more funds into R&D so we can continue to lead the curve in technological innovation.”

Frogparking has also appointed shareholder Malcolm Bailey as Chair of the Board, an experienced director and business owner with international market expertise including previous roles as a long-term director with New Zealand’s major dairy exporter Fonterra, as National President of Federated Farmers New Zealand and with current roles including director with Australasian bank Westpac.

Mr Bailey says he sees Frogparking as a world-leader and is keen to push the company’s drive into key markets including the United States, Asia and Europe.

“There is enormous capacity in this business and it is growing rapidly. We’re excited to be providing the working capital injection that will help make it achieve its potential.”

Frogparking is now actively recruiting new software, firmware, and installation engineers operational and service personnel and additional global sales and marketing capacity.

Ms Sandbrook says a key growth area for the company is its real-time indoor and outdoor parking guidance technologies that combines innovative hardware such as solar parking sensors, wireless systems and cloud-based management with the unique benefits of user engagement through Bluetooth smartphone interaction.

“We have a strong point of difference in the market with our focus on using data and real-time information to make the overall experience more user friendly and tailored to each individual that visits a facility. We can give them instant information, customised promotional offers they can share via social media, creating a community of loyal visitors that feel valued and understood.

“This is a key attraction for major car park providers like airports and shopping malls as it allows them to differentiate themselves in what is a highly competitive space. They can take full control over parking behaviour and analyse a wealth of data on parking and demographic information.”

 

About Frogparking

Frogparking is a world leader in the design and development of innovative parking systems. It delivers a full suite of parking management solutions for a range of customers globally from local authorities, private parking operators, hospitals and airports through to major shopping malls and property developers.

www.frogparking.com

For more information contact:

Christian Hermansen

new zealand T: +64 6 359 0077 M: +64 27 331 0567

christian@frogparking.com

www.frogparking.com