ParkWhiz, a Chicago, IL-based online parking marketplace, closed a $10m Series B funding.
The round was led by Jump Capital, with participation from current investors Hyde Park Venture Partners, Reddit co-founder Alexis Ohanian, former Nokia/Navteq CTO Amreesh Modi, former Technology Crossover Ventures Partner Henry Feinberg and Hyde Park Angels.
The company intends to use the funds to further streamline the parking process and expand its geographical presence.
Led by Aashish Dalal, co-founder and CEO, ParkWhiz provides online parking marketplace allows people to find and pay parking in over 125 cities, with options for Chicago, NYC, San Francisco and Washington DC parking. Via its website and mobile parking app, drivers can book guaranteed parking spots, often at discounted rates, before reaching their destinations at thousands of parking locations across the country.