Mobile Enabled Parking Tech Company, SPACES Reports Record Revenue Growth for 2021

Company grew exponentially by responding to consumers' heightened expectations of mobile payment that arose from the pandemic and their new flexible work schedules

NEW YORK, April 25, 2022 /PRNewswire/ -- SPACES, a revolutionary mobile access and payment technology company that enables drivers to enter, exit and pay for their parking using their smartphone (without being required to download an app), just announced record revenue and customer growth for 2021 while on their mission to help commuting workers get through the pandemic.

Due to SPACES' broad parking experience and problem-solving mindset, they've created an innovative platform to ensure drivers' ease of access in gated parking facilities from inside the vehicle. Over the last 2 years the company has seen steady growth leading up to 2021 where the company saw over a 1000% increase in revenue growth compared to 2020.

In addition to the increased annual revenue growth in 2021, SPACES has seen:

• 48% increased month over month parking growth
• 67% increased quarter over quarter parking growth
• 1681% increased annual parking growth (2020 vs 2021)
• 3.3 times market growth with 23 new cities added in in 2021
• 22% month over month user growth

"While the workforce is transitioning out of the pandemic, a majority of workers are intent on maintaining their new hybrid schedule," said Jerry Skillett Executive Chairman of SPACES. "We've expanded our business to meet this growing need to provide flexible parking through our 'hybrid' pass. In parallel with consumers heightened utilization of mobile payment expectations from all retail industries, we are on track for another year of unprecedented growth for our company."

SPACES provides a nationwide parking solution that allows drivers to seamlessly access parking.  SPACES' near-term goal is to be installed in 10,000 garages across 40 target cities in the next 3 years. The company currently working to expand its nationwide service to South America, Mexico, and Europe.

For more information on the SPACES, please visit www.spacesusa.com

SPACES is an unparalleled mobile access and payment solution for gated and non-gated parking facilities that allows users to enter, exit and pay for their parking from their smartphone. Led by Executive Chairman Jerry Skillett, SPACES is transforming how drivers consume parking by eliminating the need to pull a ticket, download a parking app, or make a reservation. SPACES provides parking facility owners with an uncomplicated platform that replaces legacy parking equipment, resulting in greatly reduced CapEx and operating costs.   The SPACES platform helps leading parking facility owners and operators unlock substantial financial value from their user bases, while offering a seamless experience for their tenants and customers. For more information, visit www.spacesusa.com.

SOURCE SPACES

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