SpotHero, a Chicago, IL-based parking reservation service, raised $30m in Series C funding.
The round was led by Insight Venture Partners and Global Founders Capital with participation from Autotech Ventures, OCA Ventures, Chicago Ventures, Levy Family Partners, Bullpen Capital, Pritzker Group Venture Capital, Draper Associates, Sam Yagan, Corazon Capital, Daniel Hoffer and Math Venture Partners.
The company, which has secured $57.5m in funding, intends to use the capital to The funding will be used to continue its geographic expansion, advance its mobile technologies, accelerate product development and innovation, and enhance business development and partner tools.
Launched in 2011 by Mark Lawrence, CEO, SpotHero partners with parking companies to provide off-street parking reservations through its free mobile app, offering an affordable way for consumers to guarantee a spot at thousands of garages, lots, and valets in major cities across the US and Canada.
The Series C funding comes after a period of accelerated growth including 100% year-over-year growth in 2016, the acquisition of Parking Panda, and the launch of new technology platforms and applications for commuters, businesses and partners.