Last REEF valuation
$19M
Seed · Jun 2015
Last REEF funding round
$700M
Undisclosed stage · Nov 2020
Cumulative funding REEF raised
$1.5B
across 3 funding rounds
Key investors in REEF
SoftBank Group
Mubadala
Target Global
Oaktree Capital Management
Jon Soberg
UBS Asset Management
About REEF
REEF is a Miami-headquartered operator of 4,500 neighborhood parking and logistics hubs across 200 cities in the United States and Canada, employing 15,000 associates for urban mobility services. The network facilitates garage parking, micro-fulfillment centers, last-mile delivery for Uber Eats and DoorDash, and rideshare buffering zones. REEF partners with municipalities in New York, Chicago, and Toronto to repurpose parking assets into sustainable ecosystems with EV charging and scooter storage.
Founded
2013
HQ
Miami, FLWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Services
Valuation
$19M (Jun 2015)
REEF Valuation
REEF is currently valued at $19M, based on its seed round in June 2015.
The $2M round included Jon Soberg.
REEF valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Jun 2015 | Seed | $19M |
REEF Funding History
REEF has raised a total of $1.5B across 3 funding rounds.
REEF's first fundraising round was a $2M seed round in June 2015. The most recent completed round was a $700M undisclosed-stage round in November 2020.
REEF funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Nov 2020 | Undisclosed stage | Mubadala (lead); SoftBank Group (lead); Oaktree Capital Management; UBS Asset Management; Target Global | $700M | - | - |
| Dec 2018 | Undisclosed stage | SoftBank Group (lead); Mubadala | $800M | - | REEF Technology (formerly ParkJockey) is a US-based infrastructure provider for on-demand services that converted underused urban parking spaces into hubs for logistics, food delivery, and other services. The company raised $700 million in November 2020 led by Mubadala Capital with participation from SoftBank Vision Fund, UBS Asset Management, Target Global, and Oaktree Capital Management. By 2020, REEF operated over 100 virtual kitchens across the United States and had partnerships with DHL for bike delivery, Crate to Plate for vertical farming, and Carbon Health and BioReference for pop-up clinics and COVID-19 testing. SoftBank Vision Fund first invested in REEF in late 2018 at a reported $1 billion valuation, though the specific terms of that investment are undisclosed. |
| Jun 2015 | Seed | Jon Soberg | $2M | $19M | - |
Who has invested in REEF?
6 investors have backed REEF across its funding rounds, including SoftBank Group, Mubadala, Target Global, Oaktree Capital Management, Jon Soberg and UBS Asset Management.
Lead investors include Mubadala and SoftBank Group.
REEF Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
 Tokyo | 2 | Lead | Dec 2018 | |
 Abu Dhabi | 2 | Lead | Dec 2018 | |
| San Francisco, CA | 1 | Participant | Jun 2015 | |
| United States | 1 | Participant | Nov 2020 | |
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialAcquisitions by REEF
REEF has acquired 7 companies to date.
Last acquisition by REEF was on December 7th 2021. REEF acquired 2ndKitchen for undisclosed valuation.
Latest Acquisitions by REEF
![](data:image/svg+xml,<svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 20 20"><rect fill="%23e5e7eb" width="20" height="20" rx="4"/></svg>){kind=small} 2ndKitchen | |||||
| Description | 2ndKitchen equips non-restaurant businesses with ghost kitchen services via integrated kiosks and nearby restaurant partnerships. The platform bundles orders for hot, fast seat-side delivery, expanding menus for hotels, offices, and venues in urban areas. | WaiveCar is a Santa Monica-based car-sharing service that operates on an ad-supported model, allowing users to rent vehicles at no or low cost through sponsorships. Its pilot program runs in Santa Monica, California, providing short-term access to a fleet of cars equipped for urban mobility needs. | iKcon is a Singapore-headquartered ghost kitchen network deploying smart facilities in prime locations for F&B brands. It equips shared kitchens with advanced ovens, robotics, and inventory systems staffed by chefs. Central production units handle procurement and storage across Asia. Founded in 2018, iKcon enables rapid delivery scaling for 50+ restaurant partners. | Bond The Post Purchase Company is a San Francisco-headquartered logistics firm optimizing post-purchase experiences for eCommerce brands. It operates a network of 100 neighborhood distribution centers across the United States for faster deliveries and returns. Founded in 2020, Bond serves clients like FIGS and Brooklinen, handling 5 million packages yearly with same-day options in 50 cities. | |
| HQ Country | | | | | |
| HQ City | - | Los Angeles, CA | Dubai | New York City, NY | |
| Deal Date | 7 Dec 2021 | 1 Dec 2021 | 7 Nov 2021 | 6 Oct 2021 | |
| Valuation | undisclosed | undisclosed | undisclosed | undisclosed | |
| EV/Revenue | |||||
| EV/EBITDA | |||||
This data is available for Pro users. Sign up to see all REEF acquisitions and their M&A valuation multiples. Start Free Trial | |||||
REEF Competitors
REEF competitors include listed companies like Fipp, Vipul, Hipermarc and Crown Energy, and private ones like Black Arrow Express and Valpas.
| Company | HQ | Status | Revenue | EBITDA | Valuation |
|---|---|---|---|---|---|
 France | Publicly listed | $893K | - | $19M | |
 India | Publicly listed | $9M | ($1M) | $19M | |
 Chile | Publicly listed | $183M | $11M | $19M | |
 Sweden | Publicly listed | $4M | ($6M) | $19M | |
 Manila | Private | - | - | $18M | |
 Finland | Private | - | - | $18M |
REEF Public Comps
REEF is still privately-owned, but its public comps include Fipp, Vipul, Hipermarc, Crown Energy, Dream Impact, Ste Nationale de, Songai, ATC CARGO, Adler Group and Link Prop Investment.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $893K | - | 32.2x | - | - | - | |||
| $9M | ($1M) | 1.6x | - | (11.2x) | - | |||
| $183M | $11M | 0.1x | - | 2.3x | - | |||
| $4M | ($6M) | 24.4x | - | (16.3x) | - | |||
| ($17M) | ($25M) | (9.5x) | 39.4x | (6.3x) | (18.2x) | |||
| $938K | - | 25.3x | - | - | - | |||
| $9M | $5M | 11.3x | - | 18.2x | - | |||
| $106M | $2M | 0.1x | - | 5.1x | - | |||
This data is available for Pro users. Sign up to see all REEF competitors and their valuation data. Start Free Trial | ||||||||
Common questions about REEF
| When was REEF founded? | REEF was founded in 2013. |
| Where is REEF headquartered? | REEF is headquartered in Miami, FL, United States. |
| Is REEF publicly listed? | No, REEF is a private, VC-backed company. |
| What is REEF's valuation? | REEF was last valued at $19M in its seed round in June 2015. |
| How much funding has REEF raised? | REEF has raised $1.5B across 3 funding rounds. |
| What was REEF's last funding round? | REEF's last funding round was a $700M undisclosed-stage round in November 2020, led by Mubadala and SoftBank Group. |
| Who are REEF's investors? | REEF's investors include SoftBank Group, Mubadala, Jon Soberg, Oaktree Capital Management, UBS Asset Management and Target Global. |
| Which companies are comparable to REEF? | Companies comparable to REEF include Fipp, Vipul, Hipermarc, Crown Energy, Black Arrow Express and Valpas. |
| How many companies has REEF acquired? | REEF has acquired 7 companies, including 2ndKitchen, WaiveCar, iKcon, Bond The Post Purchase Company and Orderlord. |
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