AirGarage Raises $23M Series B |
Our core thesis at AirGarage is simple:
The first step to optimizing an asset is understanding it.
And optimizing is central to better serving both owners and drivers. But the only way to truly understand an asset well enough to proactively drive revenue and improve the customer experience is with rich, real-time data about how it’s actually being used: occupancy, demand, pricing response, and the market around it.
To get there, the parking industry needs to change.
At AirGarage, we’ve been beating that drum since our founding, with the results to show.
Now we want to define that shift with fresh clarity and framing.
To us, it’s the shift from reactive property management to proactive asset management.
For decades, parking has been run with the same mindset: keep the lights on.
Parking operators were paid to make sure operations didn’t break:
If nothing went wrong, the operator was doing their job.
But this framing is flawed. Deeply. Not because operations don’t matter, but because operations alone can’t optimize assets or create value.
Meaningful growth won’t come from focusing your energy on cleaning 10% faster or switching to energy-efficient lights.
This means traditional parking management is asking the wrong questions:
Revenue is treated as something you collect, not something you actively shape and grow.
Pricing is set, then changed infrequently, timidly, and without clear rationale.
Decisions are reactive and based on lagging, high-level reports weeks or months after reality has already shifted.
In other words, traditional management historically treated parking like an operational cost center, not like a revenue-producing asset.
And the consequences are obvious:
The industry didn’t stagnate because innovation was impossible.
It stagnated because the mental model was wrong.
Proactive asset management starts from a fundamentally different place: metrics and long-term goals.
It asks:
Smooth operations to protect the current value of the asset are table stakes, not the end goal.
The goal is maximizing the long-term value of the asset.
Realizing that ambition requires:
This is the shift AirGarage is driving.
We crafted 10 principles that we believe will guide a future-focused vision for parking. These principles define what proactive, growth-oriented asset management actually looks like in practice:
In a property management world:
In an asset management world:
In this model, data creates insight. Then insight drives proactive strategy. And proactive strategy is how assets grow in value.
That approach and the corresponding value growth is the difference between managing operations and optimizing an asset.
For real estate owners, the risk isn't about operations challenges anymore.
The risk is that you are leaving meaningful value on the table by treating parking as something to be maintained instead of an asset to be optimized.
Every parking asset already has demand patterns, price elasticity, and revenue ceilings that change daily. Often hour to hour. Most operators simply can’t see them. And if you can’t see them, you can’t act on them.
That invisibility has a cost.
Static pricing leaves revenue on the table during peak demand.
Outdated assumptions about usage lead to underutilized space.
Lagging reports mask opportunities that compound over time.
Misaligned incentives keep operators focused on operational effort, not outcomes.
The result isn’t catastrophic failure. It’s something more dangerous: quiet, consistent underperformance.
Lost revenue here.
Missed pricing adjustment there.
An asset that “works fine,” but never reaches its full potential.
Over time, those small misses add up to real dollars and real asset value left unrealized.
Owners don’t accept this mindset anywhere else in their portfolio. Office, retail, multifamily — those assets are actively managed, continuously evaluated, and optimized using data.
Parking has simply been left behind.
That gap is no longer defensible.
The tools now exist to understand parking assets in real time.
To price based on actual demand, not gut feel.
To align operators around NOI, not operational activity.
To manage parking the way you manage any other revenue-generating asset.
The question isn't whether parking can be proactively optimized.
It’s whether you’re willing to continue accepting a model that was designed for a world without data, without visibility, and without aligned incentives.
Parking needs to perform, not just function.
And every day it isn’t treated that way, value is left on the table.
That’s what we’re changing here at AirGarage.
