ParkWhiz, a Chicago, IL-based transactional platform that delivers scalable, friction-free drive-up and reservation parking services, closed $20m in Series D funding round.
The round was led by NewSpring, with participation from existing investors Baird Capital, Jump Capital and Beringea. In conjunction with its investment, NewSpring’s Glenn Rieger will join the ParkWhiz Board of Directors.
The company intends to use the funds to continue the growth of its transactional parking network, expand its presence into new geographies, and further evolve its connected and autonomous technology for drivers, parking operators, and platform distribution partners.
Founded in 2007 and led by Yona Shtern, CEO, ParkWhiz provides access to thousands of parking lots and garages in over 190 cities across North America, with hundreds of new facilities joining the network every month. The company embeds its services directly into the user journeys of more than 300 distribution partners through the platform.
The system provides over 40 million consumers with parking reservations and drive-up access in garages and lots through sports teams and venues, events, travel providers, airlines, hotels, automotive OEMs, and navigation systems.
Partners can offer transactional parking as a value-added service provided directly through their own apps, websites, and emails, operated via text, voice command, or embedded right into the vehicle.
Drivers can also find, book, and pay for parking via the company’s top-rated ParkWhiz and BestParking mobile apps and websites.