Aussie’s NRMA buys 40% stake in smart parking startup Divvy Parking

Sydney-based Divvy Parking, which offers a portal to allow users to search and book available parking spots, sold 40% of its business to the National Road and Motorists Association (NRMA for short). One gets access to a network of commuters which is its current pain point (see web traffic stats below), the other gets to be recognized as ‘innovative’. Recall: the smart parking startup was founded in 2011 and has previously secured $5.3 million in total funding. Bottom Line: the case for an incumbent partnering with a startup minus the glitter.