LLR Partners-backed ParkHub acquires parking software provider Smarking

• Smarking was founded in 2014 by Wen Sang and Maokai Lin
• Based in Philadelphia, LLR Partners invests in the business services, education, fintech, industrial tech, healthcare, security and software sectors

ParkHub, which is backed by LLR Partners, has acquired San Francisco-based Smarking, a provider of parking software for commercial real estate owners, parking operators, and municipalities. No financial terms were disclosed.

Dallas-based ParkHub is a provider of parking software and payments solutions.

Through this acquisition, ParkHub broadens its product suite to further support existing customers and expands its presence into new end markets.

Smarking was founded in 2014 by Wen Sang and Maokai Lin. The company supports more than 2,500 parking locations for commercial real estate owners, municipalities, hospitals, universities, airports, and parking operators across North America.

“The addition of Smarking allows us to expand our product offering and better support our existing customers while continuing to grow and serve new markets,” said Conner Mowles, president of ParkHub, in a statement. “We are thrilled to partner with Wen, Maokai, and the entire Smarking organization to deliver an end-to-end, parking software and payment processing solution that helps parking managers and owners increase revenue and drive operational efficiencies.”

ParkHub was founded in 2010.

Based in Philadelphia, LLR Partners invests in the business services, education, fintech, industrial tech, healthcare, security, and software sectors.