Parkade Raises $10M to Modernize Parking Across Real Estate

San Francisco-based proptech startup Parkade has raised $10 million in Series A funding to scale its parking management platform across the multifamily and commercial real estate industry. The round was led by Navitas Capital, with participation from MassMutual Ventures, 9Yards Capital, and returning investors CRV, Box Group, and Heartland Ventures. The financing values the company at $50 million.

Digitizing the Last Mile of Real Estate Operations

Founded in 2018, Parkade offers a software platform that automates every aspect of parking management—from assigning spaces and collecting payments to enforcing rules and granting access. The platform has facilitated $45 million in parking payments to date, serving properties in 23 U.S. states and three international markets. By integrating with major property management systems like Yardi, Entrata, and RealPage, Parkade embeds into existing operations and reduces administrative burdens for property managers by up to 90%.

The demand for flexible and monetized parking has grown amid shifting mobility patterns and rising land costs. Parkade addresses both by offering buildings a way to generate new revenue while eliminating the inefficiencies of manual parking oversight. Properties using the platform have reported revenue gains of up to 70%, enabling some to unlock capital for new development.

Real Estate Backing Signals Sector-Wide Endorsement

The strategic participation of real estate investors, including MassMutual Ventures (parent of Barings) and Navitas Capital (whose LPs include large residential operators), reinforces Parkade’s market positioning as the preferred parking infrastructure layer in multifamily. The firm’s ability to drive higher yields from underutilized assets aligns with broader proptech trends focused on operational efficiency and net operating income (NOI) optimization.

With this funding, Parkade plans to expand feature sets like its Patrol mobile app, parking validation tools, and interoperability between buildings, paving the way for a seamless parking experience across its growing network. As co-founder and CEO Tobias Grant notes, "Our goal is to reduce the excess footprint of parking by making the supply we already have smarter, better, and easier to use."