Telenav and Parkopedia Bring Stress-free Parking Services to Connected Cars

June 9, 2020

Global partnership enhances Telenav’s VIVID Commerce solution for automotive OEMs

SANTA CLARA, Calif. & LONDON–(BUSINESS WIRE)–Telenav^®, Inc. (NASDAQ: TNAV), a leading provider of connected-car and location-based services, and Parkopedia, the world’s leading parking-services provider, have jointly announced a global technology partnership. Telenav’s In-Car Commerce (ICC) products and services for automotive OEMs will feature Parkopedia’s on-and off-street parking information and an ability to reserve and pay for off-street parking.

VIVID Commerce^™, part of Telenav’s VIVID^™ connected-car platform, enables merchants to offer in-car commerce to drivers and passengers in a safe and convenient manner. The partnership with Parkopedia and its integration into VIVID Commerce means that consumers will be able to search, reserve, and pay for parking directly from their vehicle. VIVID Commerce with Parkopedia leverages in-vehicle navigation to intelligently find and reserve parking spots based on arrival times. Furthermore, the solution includes the latest in voice assistance and natural language technologies to ensure drivers and passengers can do all this with the safety of simply using their voice.

“Parkopedia is enabling us to further our commitment to delightful driving experiences by bringing a simple solution to the frustrating issue of finding and paying for parking,” remarked Sal Dhanani, Telenav co-founder and chief operating officer. “Our solution will let OEMs deliver even more value-added services to their customers.”

Parkopedia’s full portfolio of services, covering off-street (garage) and on-street parking, and payment solutions, ensures drivers can find, reserve, and pay for parking across 15,000 cities in 89 countries.

“This partnership between two global leaders in automotive connected services brings an added value to car manufacturers as well as parking operators around the world. Not to mention, it’s perfect for drivers, as it provides them a safe and convenient on-the-go means to find parking near their destination,” said Parkopedia’s COO Hans Puvogel.

About Telenav

Telenav is a leading provider of connected car and location-based services, focused on transforming life on the go for people – before, during, and after every drive. Leveraging our location platform, we enable our customers to deliver custom connected car and mobile experiences. To learn more about how Telenav’s location platform powers personalized navigation, mapping, big data intelligence, social driving, and location-based advertising, visit www.telenav.com.

About Parkopedia

Parkopedia is the world’s leading parking services provider used by millions of drivers and organizations such as Audi, Apple, BMW, Ford, Garmin, GM, Jaguar, Land Rover, Mercedes-Benz, Peugeot, Sygic, TomTom, Toyota, Volkswagen, Volvo, and many others. Parkopedia is available in 15,000 cities across 89 countries globally, covering over 70 million parking spaces, helping drivers take the pain out of parking. Parkopedia helps drivers find the closest, cheapest, or available parking to their destination, pay in selected locations, and navigate directly to the parking space.

Parkopedia is also a founding member of the Autonomous Valet Parking consortium, developing highly detailed parking maps and corresponding algorithms to help self-driving vehicles navigate to an open parking space and park autonomously. Visit www.parkopedia.com or business.parkopedia.com for more information.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to anticipated partnership between Telenav and Alpine and development and availability of a VIVID-Alpine infotainment product, such product’s offering and performance and market penetration, market financial performance, management’s plans and objectives for future operations, business prospects, and other matters. Any forward-looking statement made in this press release speaks only as of the date on which it is made. Telenav undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise. Forward-looking statements can be identified by various words such as “expects,” “intends,” “will,” “anticipates,” “believes,” “confident,” “continue,” “propose,” “seeks,” “could,” “may,” “should,” “estimates,” “forecasts,” “might,” “goals,” “objectives,” “targets,” “planned,” “projects,” and similar expressions. These forward-looking statements are based on management’s current beliefs and assumptions and on information currently available to management. Telenav cautions that these statements are subject to risks and uncertainties, many of which are outside of Telenav’s control and could cause future events or results to be materially different from those stated or implied in this document, or to not occur at all, including among others, risk factors that are described in Telenav’s Annual Report on Form 10-K and quarterly report on Form 10-Q, and other filings with the U.S. Securities and Exchange Commission (“SEC”), which are available at the SEC’s website at www.sec.gov. Given these uncertainties, you should not place undue reliance on these forward-looking statements.

“Telenav” and the “Telenav” logo are registered trademarks and “VIVID” is a trademark of Telenav, Inc. Unless otherwise noted, all other trademarks, service marks, and logos used in this press release are the trademarks, service marks or logos of their respective owners.