REEF began as Miami-based ParkJockey providing hardware, software and management services for parking lots and has expanded into a proximity-as-a-service platform. It converts parking lots and garages into neighborhood hubs that host cloud kitchens, healthcare clinics, logistics/last-mile delivery, retail and experiential spaces. The company operates roughly 4,800 locations and runs more than 100 neighborhood kitchens across 20+ North American markets, employing over a thousand kitchen workers. REEF often leases real estate, upgrades it, and operates or subleases space to location-dependent businesses; its parking business remains the bulk of current revenue. Future plans include scaling its footprint to add 10,000 new locations, launching an open-air entertainment venue in Austin next year, and exploring edge computing and 5G gateway opportunities. The company says it has about $1 billion in capital coming to build out the platform and accelerate non-parking revenue streams such as cloud kitchens.

Total raised

$700M

Funding rounds

1

Latest round

Equity

Latest activity

Nov 2020