TORONTO, ON, March 1st, 2019 – HONK, North America’s fastest and most convenient way to find and pay for parking today announced its record results for 2018. HONK has reaffirmed its position as the leading mobile parking app across North America, more than doubling the amount of parking transactions it processed year-over-year.
HONK is now accepted at more than 2,000 locations representing 250,000 parking spaces across Canada and the United States. Using a single account, motorists can pay for parking anywhere HONK is accepted across North America.
Dramatic User & Transactional Growth
HONK’s expansive growth plan has resulted in 2018 being HONK’s strongest year yet. Highlights include:
- Ranked 11th on the Canadian Business and Macleans 2018 Startup Ranking of Canada’s Top New Growth Companies, with a two year revenue growth of 1,306%
- Unrivaled pace of new customer acquisition, with a 107% increase in active users year-over-year
- Record breaking transaction volume as more and more consumers use HONK to search, find and pay for their parking
User demand and strong business development has driven a record number of parking inventory expansions, including:
- Partnered with Toronto Pearson International Airport, Canada’s largest Airport serving over 44 million passengers to offer fast and affordable parking reservations to travellers
- Now accepted in 22 municipalities with the addition of Cobourg, Pembroke, Welland & Burlington
- Increased post-secondary institution parking, now accepted at 23 colleges & universities. Added in 2018: Brock, Georgian College, Queen’s, Southern Alberta Institute of Technology, and St Lawrence College
Continued Product Innovation
You asked Honk has a steady ear to the asphalt and is constantly listening for feedback.
HONK Answered HONK’s agility and ability to create new products and solutions based on that feedback ensure drivers have a thoroughly modernized and customized parking experience every time they park. Examples of our new product offerings that have been developed through customer feedback:
- Developed and launched the HONK KIO; a cost-effective, self-service portable kiosk for users who don’t wish to download an app, those without a phone, or visitor registration. Parking operators love KIO for streamlining their services, essentially putting the parking meter to rest. For good.
- Added features for power Honkers with the addition of a ‘favourites’ function allowing drivers to checkout faster. Great for drivers who park at the same location every day for work.
- Monthly aggregation of receipts for business Honkers who submit expense reports
“We can attribute our record-breaking year to our users who continuously challenge us to refine the modern parking experience and advance our goal of getting drivers to their destinations faster,” said Michael Back, HONK Founder & CEO. “These strong results position HONK for accelerated growth in 2019 as we seek to expand into different markets and increase scale. Our team will continue to build off of these results to bring our drivers new, innovative offerings and low-cost parking solutions for municipalities and parking operators across North America.”