SpotHero, a Chicago, IL-based developer of a mobile and web app that allows drivers to reserve parking spots, has raised $2.5m in funding.
The round was led by Battery Ventures, with participation from 500 Startups, David Cohen’s Bullet Time, e.Ventures, OCA Ventures, New World Ventures, Lightbank, and Draper VC.
The company intends to use the capital to grow its engineering team to help scale and improve the product and expand nationwide beyond Chicago and Milwaukee, where the service is currently available.
Founded by CEO Mark Lawrence, COO Jeremy Smith, SpotHero Larry Kiss, SpotHero has developed a mobile app (iOS and Android) and website that allows drivers to reserve their parking spot while on the go.
The company recently completed Chicago-based accelerator Excelerate Labs.