ParkWhiz Raises $5M in Equity Funding

ParkWhizParkWhiz, a Chicago, IL-based parking tech startup , raised an additional $5m in funding.

Backers included Alate Partners and Amazon Alexa Fund.

This round added to its recently announced Series D financing led by NewSpring Capital and now totalling $25m.

The company intends to use the funds to further expand the Arrive Network – its parking network.

Led by Yona Shtern, CEO and Executive Chairman, ParkWhiz provides a transactional platform and marketplace that enables drivers, fleets and connected vehicles to find, book and pay for parking. The company offers a large inventory of parking spaces for drivers to reserve before reaching their destinations, saving both time and money.
Working with all major parking operators, it delivers transactional parking as a value-added service to major brands in sports and entertainment, travel, automotive and navigation, including Ford, Ticketmaster / Live Nation, Groupon, Madison Square Garden and many others.
The company also operates two consumer-facing brands of its own—ParkWhiz and BestParking—available for Apple, Android and Amazon Alexa.

The company also powers the Arrive Network which provides friction-free access to parking lots in select markets.

ParkWhiz is operational in over 230 cities across North America.




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