Emma Sinclair sells Target Parking to CP Plus
Young Gun to focus on EnterpriseJungle venture following sale
Target Parking founder Emma Sinclair today announced the sale of car park management firm Target Parking to existing shareholder CP Plus, in a move which will see the former Young Gun focus on tech venture EnterpriseJungle.
Founded in 2008 by Sinclair, Target Parking was established to provide a range of services to car park owners in the UK, including management, security, cash handling and facilities management.
Since launch the company has seen strong growth, managing more than 450 sites across the UK with clients including Wolverhampton Wanderers, Urban Splash and the Forestry Commission of Scotland.
The sale, for an undisclosed sum, will see car park operator and existing shareholder CP Plus take over Target Parking’s operations.
Sinclair said the sale was due to her desire to work on EnterpriseJungle full-time, the enterprise networking business she co-founded in 2013 with her brother James.
EnterpriseJungle’s first Software as a Service (SaaS) solution, certified to run on the SAP Hana Cloud Platform, is able to provide a real-time feed of people, groups or content relevant to the employee; sourcing data from human capital software platform SuccessFactors, social collaboration solution SAP Jam and external applications such as LinkedIn.
The SaaS platform is designed to enhance team building, enable an effective sales department, and search for talent across the organisation.
“The ability to bring our solution seamlessly into the existing employee-centric applications ensures the employees are getting access to the right knowledge at the right time, as opposed to hunting for data only when the employee thinks they need it,” said Sinclair.
It aims to capitalise on large companies’ increasing focus on Enterprise Social Networks (ESN) services such as EnterpriseJungle; research suggests that companies will spend $4.5bn annually on ESN services by 2016 to boost the value of their workforce by an estimated $3.6 trillion.
Since launch EnterpriseJungle has grown rapidly, and now has offices in Los Angeles, California and London with sales and enablement offices in Melbourne, Australia.
Sinclair plans to extend the solution to additional platforms such as Oracle and Microsoft over the next 18 months. She will also continue her involvement in artisan health club Wakeman Road following the Target Parking sale.
Commenting on the sale of Target Parking, Sinclair added: “Entrepreneurship is partly about turning a passion into capital. Business is my passion and the Target Parking journey has been one I have loved but the time has come to move on.
“It’s arguably a modern version of following the gold rush: I’m migrating to tech where I see great opportunity and joining EnterpriseJungle full time, the company I co-founded with my brother James last year.”