What Parking Cloud does

Parking Cloud (legal entity: iParking Co., Ltd.) is a South Korea-based provider of cloud-native, AI-powered parking management systems, founded in 2009 and operating as a joint venture between SK Innovation E&S and NHN since 2021. The company's flagship platform, marketed as iParking, automates vehicle entry, exit, fee settlement, and access control at commercial, residential, retail, public, and event-venue parking facilities using proprietary AI license plate recognition, video analytics, ultrasonic sensing, and radar-based re-identification technology — with the company claiming 99.9% recognition accuracy and 96% of service requests resolved within one day. The platform is offered through three subscription tiers (365 Cloud Rental, 365 Rental, and 365 Secure Rental) priced from 250,000 to 365,000 KRW per month, complemented by direct hardware sales and managed operations.

The business combines a rental-first B2B go-to-market, executed through eleven regional offices and a 250–500-person workforce, with a B2C mobile app (iParking) serving 400,000+ downloads and enabling reservations, mobile payments, and discounts of up to 90% at partner lots. As of June 2026 the company reported 10,797 cloud-managed sites nationwide, 1.7 million daily vehicle interactions, 320 million monthly vehicle uses, and approximately 40% share of Korea's verified rental parking market. Customer logos span large-format retailers (E-mart, Lotte Hi-Mart, Hyundai Hi-Mart, Homeplus), banks (Kookmin Bank, Nonghyup Bank), automotive groups (Hyundai Motor, Hyundai Card), F&B (Starbucks DT, 312 stores), entertainment venues (Lotte World Tower, KINTEX, Times Square, IFC Mall), and government/public entities (Korea Airport Corporation across 13 airports, multiple metropolitan districts), with adjacent revenue from EV charging (iParking EV) and design/consulting services.

Name

Parking Cloud

Legal name

아이파킹 주식회사 (iParking Co., Ltd.)

Website

https://iparking.co.kr

Company type

Private

Founded year

2009

Operating status

Operating

Headcount range

251–500 employees

Short description

Parking Cloud (iParking) provides AI-powered, cloud-based parking management systems and a consumer app in South Korea, serving 10,797 sites with AI LPR, access control, EV charging, and subscription rentals under SK E&S/NHN ownership.

Ownership category

akta.pro rank

Product category

Smart Parking Management Software

NAICS

Parking Lots and Garages (812930)

SIC

Services-Automotive Repair, Services & Parking (7500)

akta.pro primary industry

Smart Parking Technology Platforms (Occupancy Sensors, Guidance, Reservations, Analytics) (TLAJAIAC)

akta.pro secondary industries

Parking Access & Revenue Control Systems (PARCS) (Gates, Pay Stations, Ticketing) (TLAJAIAD), Digital Payments & Enforcement for Parking (Mobile Pay, LPR/ANPR, Citation Mgmt) (TLAJAIAE), Parking Management & Enforcement (Citations, Permits, Compliance) (BPABAKAB), Smart Parking, Curb & Mobility Management (Facilities) (HSAPAPAK)

Keywords

• AI parking management
• Smart parking solutions
• License plate recognition
• Parking guidance systems
• EV charging infrastructure

Headquarters

HQ city

Yongdungpo

HQ country

South Korea

HQ region

Asia

Offices12 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Supply Chain, Infrastructure, Operations, Marketing or Sales

Revenue model

1. Parking System Sales: Direct sale of AI parking systems including LPR cameras, fee settlement machines, and various AI solutions. One-time hardware and software licensing revenue.
2. 365 Rental Services: Monthly subscription rental model for parking systems. Includes 365 Cloud Rental (cloud-based), 365 Rental (standard), and 365 Secure Rental (with access control). Recurring monthly revenue with bundled maintenance and support.
3. Parking Lot Management Operations: Consignment and rental operation services where iParking manages parking facilities on behalf of owners. Revenue from operational management fees and revenue sharing arrangements.
4. App-based Parking Services: Mobile app services including pre-payment, parking reservations, and discounted parking passes. Revenue share from partner parking lots.
5. EV Charging Services: Electric vehicle charging infrastructure and services integrated with parking facilities.
6. Design and Consulting Services: Free design support services for parking system planning, with revenue generated through subsequent system installation projects.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels7 records

Core offering

Parking Cloud (iParking) sells and rents AI-powered smart parking management systems to enterprises (parking lot operators, commercial buildings, shopping malls, residential complexes, airports, and municipal governments). The offering combines AI LPR cameras, ultrasonic/video guidance sensors, flap barriers, access control hardware, and a cloud-native parking management platform, delivered via direct sales, 365 Rental subscriptions (Cloud, Standard, Secure tiers), and consignment management services. A consumer-facing iParking mobile app complements the enterprise platform with mobile payments, reservations, and discounted partner-lot passes.

Product overview

iParking (Parking Cloud) is a unified smart parking platform offering AI-powered parking management solutions. The core offering consists of the iParking platform with various sub-products including 365 Cloud Rental (cloud-based subscription model), 365 Rental (standard rental), and 365 Secure Rental (with access control). Key technology modules include AI LPR for automated entry/exit, AI Loopless for wireless vehicle detection, AI-based video guidance systems, and access control solutions for offices and apartments. The company operates a rental operations business model alongside product sales, serving over 10,000 parking sites nationwide. Additional services include EV charging (iParking EV) and a consumer mobile app for parking reservations and payments.

Differentiator

Problem solved

Functional benefit

Brands

• 365 클라우드 렌탈 (365 Cloud Rental): Cloud-based parking system rental service without local PC, storing all parking information safely in the cloud.
• 365 렌탈 (365 Rental)
• 365 시큐어 렌탈 (365 Secure Rental)
• 아이파킹 EV (iParking EV)

Products and services

• iParking Smart Parking Platform Unified AI-powered smart parking management platform combining LPR cameras, cloud software, guidance sensors, and access control for parking lot operators, commercial buildings, and government facilities.
• 365 Cloud Rental Cloud-based parking system rental subscription requiring no on-site PC, with all parking data stored securely in the cloud. Pricing starts at KRW 365,000/month with 24-hour call center support.
• 365 Rental Standard parking system rental service with 24-hour call center support and free after-sales service included. Subscription from KRW 365,000 per month.
• 365 Secure Rental Parking rental subscription bundled with comprehensive access control system. Starts at KRW 250,000 per month and targets parking operators needing enhanced security.
• AI Fee Settlement System AI LPR + cloud-based automated fee settlement system enabling fully unmanned parking management with 99.9% recognition rate.
• Office Access Control System Building access control system using AI recognition to manage office building parking, visitor vehicles, and authorized personnel.
• Apartment Access Control System Residential complex access control with visitor vehicle reservation, entry management, and history tracking capabilities for apartment buildings.
• Unmanned On-street AI LPR System Dedicated AI camera-based LPR system for managing street parking operations, automated enforcement, and fee collection on public roads.
• AI Loopless Vehicle Detection System Video analysis-based vehicle detection system that eliminates the need for induction loop coils and floor cutting, simplifying installation.
• AI Re-Count Vehicle Counting System AI camera and radar sensor-based vehicle counting and re-identification system for accurate space occupancy detection.
• AI Flap Lock Barrier System Compact AI-controlled flap barrier system for managing narrow parking spaces.
• 365 Video Guidance System Cloud-integrated video guidance system with floor/block-level car finder service and automatic re-counting management.
• Video Guidance System AI video-based parking guidance providing omnidirectional or single-direction guidance to available parking spaces.
• Ultrasonic Video Guidance System Single ultrasonic sensor capable of detecting up to 3 parking spaces for real-time parking availability guidance.
• Parking Lot Consignment and Rental Operations Comprehensive parking lot management services including full operation, rental management, and revenue sharing models for parking lot owners.
• iParking Mobile App Mobile application for parking reservation, parking tickets, parking payment, and corporate card payment support. Available on iOS and Android with up to 90% discount at partner lots.
• iParking EV Charging Service Electric vehicle charging service integrated with iParking's parking ecosystem, including solar-based charging infrastructure and roaming partnerships with KEPCO and Tmap Mobility.
• AI Voice Payment Contactless Kiosk AI voice recognition-based contactless kiosk for parking fee payment, enabling untact payment experience.
• In-Car Payment Service Seamless in-vehicle parking payment service for Hyundai Card holders using Hyundai Motor Group's connected car platform.

Quantifiable outcome

• 99.9% AI recognition rate
• +6 more outcomes

Named customers23 records

Segments9 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability7 records

Feature10 records

Partnerships

Four partnerships are on record, tiered minor.

• NHN Toast CAMminorTechnology partner providing CCTV maintenance services for iParking managed parking lots entrance/exit barriers.
• Hyundai Card / Hyundai Card Blue MembersminorGTM or Marketing PartnerPartnership for in-vehicle simple payment (in-car payment) launch in 2020, enabling seamless parking payments for Hyundai Card holders.
• Climate & Energy Ministry / Korea Environmental CorporationminorStrategic or Co-development PartnerPartnership for slow-speed EV charging facility subsidy programs. iParking selected as program operator for Ministry of Environment slow-speed charging facility subsidy program in 2022. Data sharing on EV battery safety including VIN, battery charging info (SOC), degradation info (SOH), cell voltage, pack current, and module temperature.
• KEPCO (Korea Electric Power Corporation)minorStrategic or Co-development PartnerPartnership for EV charging service roaming and electricity usage applications. Roaming charging service with various partner charging networks. Data sharing for EV battery safety management.

Scale indicators9 records

Recent moves7 records

Expansion highlights6 records

Emerging players

• Q-Free ASA: Norwegian ITS company with parking management, LPR enforcement, and urban mobility solutions. Comparable to iParking's on-street AI LPR and smart-city government contracts, with a broader tolling and traffic management portfolio.
• Parkopedia: Global parking data and payment platform providing in-car and in-app parking information and transactions. Comparable to iParking's app and embedded navigation/payment partnerships with Hyundai Card and Tmap Mobility.
• Tmap Mobility: SK Group-affiliated mobility platform (navigation, parking, EV charging) and existing iParking partner for prepaid point services. Adjacent competitor and partner given shared SK/NHN ecosystem positioning.

Direct peers

• ParkMobile: US-based smart parking leader offering mobile payments, reservations, and LPR-based enforcement across thousands of lots. Directly comparable to iParking's consumer app + B2B parking operations model.
• SpotHero: North American parking marketplace connecting drivers with off-street parking inventory via app and web. Comparable to iParking's app-based reservation and discount pass business at partner lots such as Gwangmyeong Costco and IKEA Gwangmyeong.
• Park+: Korean smart parking platform offering mobile payments, reservations, and EV charging integrations. Directly competes with iParking in the B2B and B2C Korean parking market with similar LPR-based entry/exit and consumer app features.
• EasyPark Group: European parking technology provider covering on-street and off-street payments, guidance, and enforcement. Comparable to iParking's mobile pay + LPR + guidance portfolio across multiple geographies and segments.
• JustPark: UK-based parking marketplace and management platform serving both consumers and parking operators. Comparable to iParking's dual B2B operator and B2C app model with reservation and pre-payment features.

Broad incumbents

• Kakao Mobility: Korea's largest mobility platform with taxi, navigation, and parking features integrated into KakaoMap/KakaoT. Competes with iParking's consumer app in Korea and represents the dominant Korean platform incumbent in mobility-adjacent services.
• Siemens (Yunex Traffic): Large European ITS vendor offering parking, traffic, and curbside management as part of a broader urban infrastructure portfolio. Comparable to iParking's smart-city and government contracts, though operating as a much broader incumbent rather than a parking specialist.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCQAt48s6rQveq7OCIY7xUpQ
• Instagraminstagram.com/iparking_official
• Facebookfacebook.com/iParkingKorea
• LinkedInlinkedin.com/company/parking-cloud

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries2 records

Funding overview

Funding rounds6 records

Investors9 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Parking Cloud