Vend Park, a unified technology and operations company modernizing how commercial real estate owners manage parking assets, raised $17.5M in funding led by Blue Heron Capital, with participation from Nuveen’s Real Asset Ventures, Communitas Capital, John McMahon, and follow-on investors including Derive Ventures and Crossbeam.
The funding supports expansion into major U.S. markets, growth in sales and engineering teams, and further development of AI-driven products. Vend combines technology and operations to automate management, reduce inefficiencies, and increase revenue. Partner properties report up to 30% higher NOI and 30 – 50% lower operating costs.
“Parking has been running inefficiently for years, built on a dual-vendor model that splits responsibilities between a traditional operator and a third-party technology provider,” said Michael Miele, CEO of Vend Park. “Vend replaces that outdated structure with an AI-powered infrastructure that unifies technology and operations to drive NOI and deliver a seamless experience. With Nuveen as a new partner and this additional capital, we’re excited to scale into hundreds of premium properties nationwide.”
Vend achieved 35x growth in two years, expanding from 3 to 15 cities and adding leading CRE owners such as Nuveen, Jamestown, and Federal Realty.
“Vend is unlocking real value for real estate owners with a platform approach that blends operations and technology seamlessly,” said Brad Wilner, EVP at CBRE. “This team is not just modernizing parking — they’re creating digital infrastructure for the built world.”
"Our extensive research on the changing landscape of the parking industry revealed a sector undergoing a fundamental transformation from traditional labor-intensive operations toward digital solutions," said Jeanne Casey, Head of Real Asset Ventures at Nuveen.
“The majority of parking assets across the country are still operating on outdated systems and legacy operating models that haven’t evolved in decades,” said Kevin Musco, Vice President at Blue Heron Capital. “Vend is uniquely positioned to revolutionize this space by delivering a unified, AI-powered platform that transforms parking into a strategic asset.”
Vend Park continues to expand its reach, redefining parking management with AI-driven infrastructure and measurable financial impact for property owners.