SpotHero, the digital parking company, has announced $50 million in Series D funding led by Macquarie Capital, bringing the company’s total funding to date to $118 million.
Union Grove Venture Partners participated in the round, along with existing investors including Insight Venture Partners, Global Founders Capital, OCA Ventures, AutoTech Ventures and others.
The company plans to use the new capital to accelerate marketplace growth, expand the digital platform for the parking industry, strengthen partnerships with leading mobility companies, and deepen technology stack to standardize and optimize access to parking throughout North America.
The off-street parking is a $20B industry in which SpotHero aims to be a significant player. The company offers hardware and software solutions aimed at drivers, parking operators and property owners, and mobility partners.
Source: Press Release