Founder & CEO
Vivek Mehra as Founder & CEO, founded ParqEx in April of 2014 and built it from the ground up; through idea, product development, assembling a stellar team, raising capital and successfully growing the company in Chicago and nationally.
As a technology founder, Vivek has over 20 years of technical leadership experience and an outstanding track record of creating technology vision, setting strategic IT direction, and steering innovative technology road-maps to align with corporate strategy and business objectives. He has worked for Fortune 500 and start-up companies as a Software Developer, Technology Architect, Chief Technology Officer, Board of Director, and, Founder.
Vivek’s strength lies in building technology companies and has previously successfully built 2 companies from the ground up; through idea, development, raising capital, Mergers & Acquisitions, and, the sale of the company.
What is ParqEx?
ParqEx is The Private Parking Marketplace that connects people with underutilized parking spaces to people looking for parking.
We help drivers find a private parking spot from their phone, tablet or computer, while providing residents the ability to make money on their unused parking spot by listing it for rent on ParqEx. Depending on the parking availability, drivers can park by the hour, day, week or month.
With Access+, residents and approved visitors can open the garage door from their smartphones while property managers and condo boards can simplify management and improve control of the garage.
What gave you the idea to start ParqEx?
“Like most good ideas, ParqEx was formed as a response to a basic problem. I was frustrated driving around the city looking for parking, seeing empty private spaces but having no access to them in hard to park neighborhoods. In this sharing economy, it just made sense to me there could be a technology solution.” – Vivek Mehra
How do you differ from other parking apps?
We offer access to exclusive, private parking and the ability to communicate directly with the owners through our platform.
Our innovative IoT solution called Access+. system allows renters and approved users to open any garage door or gate with a click of a button on their smart phones. Implementing Access+ increases rental opportunities, improves transparency into garage usage, and provides great convenience for both owners and renters.
Who are you targeting?
We serve the parking needs of everyone, but urban hard to park in neighborhoods are our primary target. We’re helping on both the demand side and supply side. We help condo owners earn revenue and frustrated parkers have a better parking experience.
What do you think your strengths are?
Our proprietary Access+ technology allows parking owners controlled access to their spaces.
We’re creating an ecosystem to solve the urban parking problem by bringing communities together and allowing individuals, businesses, schools, churches, anyone with a parking spot to share their parking easily.
What are some of the other benefits of ParqEx?
Because we are IoT based, you no longer need to have a garage fob or key card or door opener, so it’s one less thing to worry about, pay for or carry. In cities, garage fobs can have a fee associated with them either for initial activation or for replacements and those fees can be as high as $250 per fob!