Luxe, a San Francisco, CA-based on-demand valet parking and car service, raised $USD50m in Series B funding.
Backers included Hertz Global Holdings and existing investors Redpoint Ventures and Venrock. In conjunction with the funding, John P. Tague, Hertz Global Holdings president and chief executive officer, and a member of the Hertz Global Holdings Board of Directors, will join Luxe’s Board of Directors.
The company intends to use the funds to invest in its valet, operations, product and engineering teams, expand its service to other major urban centers and develop new innovative and integrated services.
Led by CEO and co-founder Curtis Lee, Luxe offers an app and on-demand valets for parking and car services needs (car wash, gas refill, and oil change), the option for overnight parking, a driver service called Drive Home, Luxe for Events (parking for special occasions), Luxe for Partners (customer parking for businesses and merchants) and Luxe for Business (parking for employees).
The company, which has hundreds of thousands of downloads, currently operates in six major U.S. cities – San Francisco, Los Angeles, Seattle, Austin, Chicago and New York.