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FLASH Secures Over $250 Million in Round Led by Vista Equity Partners to Advance Connected Mobility Ecosystem

March 16, 2022

 

FLASH Secures Over $250 Million in Round Led by Vista Equity Partners to Advance Connected Mobility Ecosystem

$1B+ valuation further solidifies FLASH’s leadership position among mobility innovators and accelerates growth

 

 

AUSTIN, Texas —  FLASH (or “the Company”), the leader in cloud parking software and mobility transformation, today announced a $250+ million strategic investment led by Vista Equity Partners (“Vista”), a leading global investment firm focused exclusively on enterprise software, data, and technology-enabled businesses. Vista is joined by existing lead investor L Catterton, other prior investors, and management. The minority investment will be used to expand FLASH’s mobility operating system and payments platform, extend digital services, and invest substantially in talent to support FLASH’s exceptional growth.

Launched in 2011, FLASH is the largest cloud-native parking technology platform and provides industry-leading digital and physical infrastructure. This platform creates seamless customer experiences and increases ROI while also connecting thousands of operators and asset owners with a real-time marketplace for digital mobility. FLASH’s operating system is the connective layer that transforms parking assets into multi-purpose mobility hubs where parking, charging, transportation, and logistics intersect with a smart city ecosystem. FLASH enables real estate owners, parking operators, and cities to tackle complex mobility issues such as congestion, lack of visibility into parking supply and demand, and fragmented consumer experiences.

Through integrations with most major automakers, entertainment and hospitality leaders, and every global mapping, navigation, and payment platform, FLASH connects its clients seamlessly with hundreds of millions of potential customers. As it continues its growth, FLASH will continue to help customers become leaders in the evolving future of mobility with solutions including electric vehicle charging stations, autonomous vehicle staging, and mobility-as-a-service.

“When FLASH was founded, the parking industry was poised for transformation and digital mobility platforms were nascent,” said Dan Sharplin, Chairman and CEO of FLASH. “We are rapidly future-proofing urban mobility infrastructure by providing an agile, cloud-based, mobile-first platform for the myriad opportunities facing cities, citizens, asset owners, utilities, and parking operators. We are thrilled to welcome Vista as an investor and partner whose expertise and experience will ensure we continue innovating to advance the connected mobility experience.”

Today, FLASH solutions are used at over 10,000 customer locations across all major U.S. cities and Canada, processing more than 11 million parkers per month and over $1 billion in annual transactions. The investment from Vista and L Catterton will accelerate its already significant growth by providing FLASH with the capital necessary to expand core and complementary product areas, provide world-class service to customers and partners, and build its best-in-class team with the expected hiring of over 200 employees in 2022 alone.

“FLASH has an incredible opportunity to continue its disruption of a massive industry,” said Marc Teillon, Co-Head of Vista’s Foundation Fund and Senior Managing Director. “We are excited to partner with Dan and the entire FLASH team as they innovate to advance the connected mobility experience.”

“FLASH’s visionary team is bringing best in class software and services to the parking ecosystem,” said Aaron Gupta, Senior Vice President at Vista. “We see massive growth opportunities for FLASH based on market dynamics such as accelerating digitization and the proliferation of connected and electric vehicles, and we believe they are strongly positioned to capitalize on the shift towards a more efficient and sustainable future for mobility.”

L Catterton is honored to have been a part of FLASH’s remarkable growth over the past few years, and we are excited to welcome Marc, Aaron, and the rest of Vista’s exceptional team and capabilities into the Company,” said Matt Nugent, a Partner at L Catterton. “FLASH is uniquely positioned to facilitate a rapid and necessary evolution across the mobility landscape, to enable the growth of its many customers, and to provide a compelling, fully-digitized, seamless experience to millions of consumers. We look forward to partnering with Vista and the Company to help FLASH recognize its ambitious vision.”

On March 30th, FLASH will host its annual virtual customer conference, FLASHFuture’22, where company and industry leaders will preview technology trends and share winning strategies and consumer insights driving the parking and mobility ecosystem. Registration is open to all at flashparking.com.

Evercore acted as financial advisor to FLASH.

About FLASH
FLASH is the leader in urban mobility, helping businesses and cities rethink one of their most valuable assets: the parking space. Our award-winning cloud-born platform is configurable, secure, reliable, and grows alongside our customers’ business requirements as consumer expectations evolve. Founded in 2011 to perfect the parking experience, FLASH has grown to serve over 10,000 parking locations in every major US city, enabling traditional parking assets to transform into next-generation mobility hubs with future-ready hardware and software solutions, a powerful business intelligence engine, and a robust partner ecosystem.

Visit us at www.flashparking.com to learn more.

About Vista Equity Partners
Vista is a leading global investment firm with more than $86 billion in assets under management as of September 30, 2021. The firm exclusively invests in enterprise software, data and technology-enabled organizations across private equity, permanent capital, credit, and public equity strategies, bringing an approach that prioritizes creating enduring market value for the benefit of its global ecosystem of investors, companies, customers and employees. Vista’s investments are anchored by a sizable long-term capital base, experience in structuring technology-oriented transactions and proven, flexible management techniques that drive sustainable growth. Vista believes the transformative power of technology is the key to an even better future – a healthier planet, a smarter economy, a diverse and inclusive community and a broader path to prosperity. Further information is available at vistaequitypartners.com. Follow Vista on LinkedIn, @Vista Equity Partners, and on Twitter, @Vista_Equity.

About L Catterton
With more than $30 billion of equity capital across its fund strategies and 17 offices around the world, L Catterton is the largest global consumer-focused private equity firm. Leveraging deep category insight, operational excellence, and a broad strategic network of relationships, L Catterton’s team of nearly 200 investment and operating professionals support management teams around the world in building strong, category-leading brands. Since 1989, the firm has made approximately 250 investments in consumer businesses. For more information about L Catterton, please visit lcatterton.com.

Contacts

Media Contacts:
Rob Duda
Peppercomm for FLASH
Senior Vice President, Automotive & Transportation Strategist
Mobile: 908-347-1243
rduda@peppercomm.com

Karin Maake
FLASH
Senior Director of Brand & Communications
Cell: 512-750-0123
karin.maake@flashparking.com

Nonprofit Partners with Mobile Parking Giants FLASH and ParkWhiz to Help Offset Cost of Parking for Chicago-area NICU Families

June 21, 2021

 

 

Nonprofit Partners with Mobile Parking Giants FLASH and ParkWhiz to Help Offset Cost of Parking for Chicago-area NICU Families

 

 

 

Chicago, IL  –The Jackson Chance Foundation goes high tech with new friends to spread its mission! The nonprofit proudly announces a partnership with mobile parking innovators FLASH and ParkWhiz to help spread its mission to make hospital parking for NICU families as easy and efficient as possible.

ParkWhiz app is a digital parking service that allows users to locate available parking spaces before reaching their destinations. No more stumbling to find parking tickets or dealing with parking machines when minutes matter most. In support of the Jackson Chance Foundation, ParkWhiz is promoting the mission of the foundation to its user base and providing the opportunity for donations.

Carrie Meghie, Jackson Chance Foundation co-founder said, “We are constantly looking for strategic partners to spread awareness of the Jackson Chance Foundation, the partnership with FLASH and ParkWhiz is a natural fit. It opens the door to educating the mission on how parking impacts NICU families and how the Jackson Chance Foundation fills that gap in Chicago.”

“Many hospitals define patient experience solely through clinical measures,” says Jonathan Isaacs, Vice President of Healthcare Sales at FLASH. “But the reality is that there are many environmental and psychological factors that contribute to a patient’s ability to get well, even more so when that patient is a newborn. Partnering with Jackson Chance Foundation was a great opportunity for us to support family involvement in the healing process.”

Visiting a baby in the NICU every day is just as important to recovery as the medical care they receive. But many families are unable to afford the transportation costs to make this a possibility, meaning many babies are left alone. Just one day of visitor parking, at a top Level IV Chicago NICU can cost upwards of $75.00, resulting in parking fees upwards of $1,000 per month. The average length of stay for a baby in a top NICU is 28 days, but the majority are there for months at a time. Jackson Chance Foundation believes this battle shouldn’t be fought alone or be plagued by additional burdens. Removing the financial burden of parking gives families the opportunity to be with their baby 24 hours a day, 7 days a week.

“For NICU families, parking should be a forgettable experience, which is why FLASH is proud to be partnering with the Jackson Chance Foundation,” said Neil Golson, EVP of Marketing & Strategic Partnerships for FLASH. “We are fortunate that we can leverage the ParkWhiz platform to tap into our userbase and help support local Chicago families in need.”

This new partnership kicks-off in early June 2021 at all local Jackson Chance Foundation NICU parking locations, including Ann & Robert H. Lurie Children’s Hospital of Chicago, Northwestern Prentice Women’s Hospital, and most recently Rush University Children’s Hospital. The Jackson Chance Foundation will also continue to offer its traditional parking passes to NICU families.

About Jackson Chance Foundation (JCF)
At Jackson Chance Foundation, we remove the financial burden of parking fees, giving every family the opportunity to be with their child. Through our NICU Transportation Program, we partner with hospitals to provide complimentary parking passes for families with critically ill babies in the NICU. By providing these passes, we ensure that each NICU baby receives their basic human rights: advocacy, support, and human touch 24 hours a day, 7 days a week. In short, we give families access to the best hospitals, neonatal specialists, surgical abilities, and nursing staff that they otherwise may have to turn down because of the high cost of parking to get there. Our program is available at Ann & Robert H. Lurie Children’s Hospital of Chicago and Northwestern Prentice Women’s Hospital and most recently expanded to Rush University Children’s Hospital. To date, all admin costs are covered by the founders’ family in honor of their son Jackson Chance, for whom the foundation was started in his legacy. For more information, please visit www.jacksonchance.org. JCF is an Illinois non-for-profit, tax-exempt 501(c) (3) organization.

About FLASH
FLASH and Arrive have combined forces to change the way people think about parking and mobility. From helping businesses rethink their parking assets, to helping users create more seamless, safe, and efficient mobility journeys, this duo is out to connect people, businesses, and communities with smart technology. Visit www.flashparking.com to learn more.

Media Contacts

Karin Maake
FLASH
Senior Director of Brand & Communications
Cell: 512-750-0123
karin.maake@flashparking.com

Flash: Reimagining the Future of Healthcare Parking and Mobility

June 11, 2021

 

 

Reimagining the Future of Healthcare Parking and Mobility

by

 

 

 

We have a singular mission when it comes to mobility in healthcare: make parking the simple part. People have more pressing matters when visiting healthcare facilities; they don’t need to worry about finding or paying for parking. The COVID-19 pandemic has compounded this. Now, people need healthcare facilities to be cleaner and more efficient than ever—and that includes getting into and out of buildings.

In our FLASHFuture ‘21 virtual conference, we brought together our leaders to discuss the future of mobility, and parking’s role within it. In short: we talked about how travel is changing. And while these changes are broad enough to affect most transportation, particularly within cities, they also deeply affect some specific industries more than others—healthcare is a prime example. Institutions like hospitals are taking robust audits of their parking systems to ensure that people can quickly enter and exit while balancing the revenue contributions that parking provides.

The team is composed of experts with intimate knowledge of the opportunities and challenges facing various industries. We believe that there are some important considerations that healthcare parking professionals need to keep in mind when adapting to new customer journeys and making parking easier. Read on to learn some of the top factors to focus on within healthcare parking.

Parking Should Contribute to Infection Control

According to the CDC, about 1 in 25 U.S. hospital patients is diagnosed with at least one infection directly due to hospital care. These healthcare-associated infections (HAI) are a byproduct of the amount of movement and human unpredictability within facilities. The COVID-19 pandemic has highlighted the detrimental effects of HAI, as we’ve seen across hospitals or other facilities such as nursing homes. Therefore, facilities have been doing everything they can to prevent the spread of infection, including making as many appointments virtual as possible. But, sometimes, people can’t avoid getting the hospital or in-person care they might need.

When it comes time to park, consider the risk that exists when you have everybody placing their hands on kiosks for paper parking tickets, or pressing buttons of similar nature. It’s the one place of potential germ spreading that often has been disregarded. This can no longer afford to be the case. Hospitals would benefit from upgrading their parking systems with complete, contactless technology. With touchless solutions, like the systems we offer, there are multiple ways visitors and patients can enter a facility and park without touching anything. For example, users can obtain tickets by waving their hands with Motion.

Whatever systems you choose, it’s clear that the new demands of infection control will live on beyond COVID-19, and your healthcare parking systems should reflect this new direction.

Healthcare Security is a Risk—Secure Parking Can Help

Take a moment to consider the following mind-blowing facts. Stolen credit cards, once money has been restored to the victim, are typically worth 10 dollars. Stolen medical records, which contain social security numbers, are worth an average of 150 dollars. According to other security reports, this number can be as high as 250 dollars. This makes hospitals tremendous targets for breaches.

When this information is hacked, the breach can come from cracks in cybersecurity across the entire technology stack. Hackers can make connections between the people who park and patients they might be visiting. Ironically, today’s “smart” systems give hackers many opportunities due to everything being digitized and connected.

Case in point—a casino that was hacked through its fish tank.

That’s why it’s imperative that all points throughout smart information networks are secure.

In parking, payment card industry (PCI) compliance is critical. Your parking system should contribute to overall security by helping to close the loop between the hospital entrance and exit. does this by supporting more than 6 million transactions per year safely because of our unique cloud structure. We bring this added security to scale by managing PCI compliance and ensuring we’re always up to date, so you don’t have to. To bolster our defenses, we are becoming HITRUST certified, providing an extra measure of security by adopting a global standard of information safety. Moving forward, your healthcare parking will need to be one of the strongest links in your security chain.

Keeping the Humanity in Healthcare

Anyone who has had to, unfortunately, make recurring visits or stays in hospitals will be able to share parking woes. Parkers have to contend with outdated hardware and high prices, which lead to more stress than needed. (Many hospitals charge approximately 6 dollars an hour.) Compounded with multiple hours and days, visitors can spend hundreds of dollars—or more—just to park.

For healthcare facilities, it’s a real conflict of interest with a solution hidden in some gray area. The question becomes how to charge fairly for parking without interrupting or limiting people’s healing or grieving process. Not charging for parking at all would come with its own issues, such as the abundance of a free resource that can cause traffic while taking away from a hospital’s source of revenue. That’s why we envision creative solutions.

At , we’re thinking about the best paths for both worlds—parker and facility. Some of the solutions we’re working on are setting up multi-use passes, which parkers can use more than once for discounted prices. This pass can also be made digital, so parkers can pass it along to other people or family members who are visiting. The solution lies in saving time and energy for the customer.

Let Your Parking Help Your Tech and Admin

Healthcare providers would all agree that one of the biggest issues they face is no-shows from missed appointments. When a patient doesn’t show up to an appointment, it creates ripples down to the bottom line. According to research, a no-show rate of 12 percent costs more than $89,000 in missed revenue for a laboratory in one instance. It also creates inefficiencies because other patients could have used the appointment time. Eventually, this can contribute to overcrowded ER rooms and even higher healthcare costs.

The next evolution of healthcare parking includes the ability to creatively help with these issues. In the near future, a new stack of digital parking tools will be able to tell healthcare providers that you’re on your way to your appointment. If you’re going to be late to your appointment, based on traffic or if you haven’t left yet, providers can be notified with an ETA, so they can accept a walk-in.

Healthcare Parking Is Not Limited to the Lot

As you can see—parking solutions no longer apply only to specific parking spaces. Parking technology is now mobility technology, connecting to people at many points throughout their journey. It’s in this difference that the benefits arise for healthcare facilities.

Want to know more about how is working with healthcare institutions to modernize their parking? Visit us here.

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FLASH LAUNCHES FREE VALET SOLUTION TO AID OWNERS AND OPERATORS ON THE ROAD TO RECOVERY

June 03, 2021

 

 

 

 

FLASH LAUNCHES FREE VALET SOLUTION TO AID OWNERS
AND OPERATORS ON THE ROAD TO RECOVERY

 

A free version of FLASH’s original valet solution is the first in a series of product launches to support the digital transformation of parking operations

 

 

June 3, 2021 – AUSTIN, TX – This week marks the 10th birthday of FLASH, the creator of the industry’s first cloud-based valet solution. Since its founding in 2011, FLASH has become a mobility leader known for its flexible solutions that help asset owners and operators unlock the value of their parking asset. In honor of its birthday, FLASH is launching a free version of its original valet solution to help small valet operators get back on the road to recovery, at zero cost and zero risk to deploy.

 

By eliminating cost barriers, on-curb valet locations can transform their operation from an analog process to a seamless digital operation that boosts efficiency and improves parker experience. Making the transition from a manual payment system or mobile plug-in card reader to the trusted FlashOS platform simplifies management by increasing visibility and accountability.

 

“We launched our valet solution with a simple goal in mind: to give our customers digital, mobile first tools to help them run a more efficient and profitable valet business,” said Juan Rodriguez, Chief Innovation Officer and founder of FLASH. “I’m humbled by the growth FLASH has seen over the past ten years, and I am proud to roll out a free valet solution to help small, on-curb valet locations get back on their feet and modernize their operation at zero cost.”

With the free, cloud-based valet solution, small operations will now have access to:

 

  • Operational Visibility – Transform anonymous parkers to contactable customers for future relationship-building and usage patterns.
  • Seamless Digital Payments – Give customers the option to forgo cash transactions in favor of more modern, digital payments.
  • Improved Customer Experience – Wow customers with the ease of texting to retrieve their vehicle and paying/tipping online.

As restrictions relax across the country, the demand for valet is approaching pre-pandemic levels. According to FLASH Valet data, transaction volume has increased 455% year over year. Over the next few months, FLASH is committed to helping operators get back on the road to recovery with key product launches that will spark the digital transformation of the parking industry. FLASH customers can expect new digital payment tools, car counting, LPR, and gateless solutions in the months to come.

 

“The world of parking as we knew it no longer exists,” says Rodriguez. “It’s time for asset owners and operators to rethink revenue, and the first step is through digitalization of your operation. From there, operators can drive digital demand, offer seamless digital access and payments options, streamline management, and maximize revenue through diversification and real-time business insights. The future is now — and we’re ready for you.”

 

To find out if you qualify for the free version of our valet solution, please go to: https://www.flashparking.com/valet-free-version/

 

About Flash
 FLASH is an innovator in the urban mobility space, helping businesses rethink one of their most valuable assets: the parking garage. Our award-winning cloud-born platform is custom configurable, secure, reliable, and grows alongside you as business or consumer demands evolve. Visit www.flashparking.com to learn more.