Tag Archives for: SpotHero

SpotHero Eclipses $1 Billion in Parking Reservations Sold, Sets Sights to Further Modernize the Parking Industry

October 20, 2022

SpotHero Eclipses $1 Billion in Parking Reservations Sold, Sets Sights to Further Modernize the Parking Industry

Digital parking leader continues to unlock and expand availability of parking throughout North America

CHICAGO, October 20, 2022—-SpotHero, the digital parking leader in North America, has exceeded $1 billion in parking reservations sold since its founding in 2011. SpotHero’s latest milestone signifies its continued leadership in the market and its commitment to further digitizing the parking industry, making it more affordable and convenient for drivers to find and book parking, and easier for parking operators to effectively manage and more efficiently monetize their parking lots/spaces. The North American parking industry is a $36B marketplace that is currently only two percent digitized.

“We’re extremely proud to celebrate the $1 billion milestone, but SpotHero isn’t stopping here. We see this as a larger opportunity to continue transforming an industry that is lagging in our digital-driven world where we can solve problems for people and parking operators in real-time,” said Mark Lawrence, SpotHero co-founder and CEO. “We don’t need to build or create more parking spaces; we just need a more efficient way of connecting drivers with existing inventory. This allows them space to spend more quality time at their desired destinations instead of circling the block looking for parking. This core focus has led to our growth, success and ongoing approach to innovation.”

The average motorist roams 1.22 miles before they find a place to park, which is why in SpotHero’s 2022 State of Parking Report, the company found that nearly half (48.5%) of all Americans say parking is a source of stress. SpotHero offers a solution to the hassle of finding a parking spot by equipping drivers with an easy-to-use platform. The platform, accessed online or via mobile app, allows drivers to explore affordable parking options near their destination and provides an instant parking pass upon receipt of payment. SpotHero’s consumer and operator-friendly platform has established the company as a leading parking marketplace and helped park more than 40 million cars throughout the United States and Canada.

“There’s a lot of room for growth in the parking industry because it’s one of the few industries where things are still done non-digitally, such as pulling tickets and paying with cash,” said Matt DiBari, Chief Product Officer at SpotHero. “From our SpotHero IQ pricing platform to our Customer Hero service team, we’ve created a product for drivers who demand reliability in where they can park and how much they will pay. We believe there is tremendous opportunity to innovate within this lens and are excited to continue developing new partnerships and forging ahead to make parking easier for our drivers and operator partners.”

Since its founding in 2011, SpotHero has seen an average 145% annual increase in digital parking reservations while partnering with 1600+ operators across more than 300 cities and 8,000 locations. Despite a complete market disruption and freeze in parking due to COVID, the company has seen a significant resurgence in demand across North America, with major U.S. cities including Boston, New York, Chicago and San Francisco surpassing pre-COVID usage levels. Over the next three years, SpotHero aims to significantly grow its impact on the parking industry through investments that will expand its digital capacity with a goal of achieving 20% digitization of parking inventory by 2025.

With over $1 billion in parking reservations sold, SpotHero solidifies its reputation as the most reliable and convenient option for customers across the industry. A key factor of SpotHero’s growth has been a direct result of its commitment and investment to excellent customer service. SpotHero’s Customer Heroes are available 7 days a week to assist drivers with everything from parking reservation cancellations to technical and location-based issues. This customer-centric focus is embodied throughout the company and has led to SpotHero receiving highly favorable customer experience rankings with an average Net Promoter Score (NPS) of 60, Customer Satisfaction Score of 4.44/5 and a Trustpilot score of 4.1, all of which are among the highest scores in the parking industry.

Parking operators have also seen the impact of SpotHero’s commitment to leadership in the industry with over 1600+ operator partnerships across North America. Since 2011, SpotHero has grown its number of parking locations by nearly 30% each year, as more and more operators have recognized the value of SpotHero’s innovative tools and insights. The data SpotHero can provide through SpotHero IQ, the parking industry’s most dynamic pricing tool, allows operators to run their businesses more efficiently and more effectively manage their parking inventory, further driving revenues.

About SpotHero

SpotHero is the digital parking leader and only independent off-street parking marketplace in North America. Millions of drivers use SpotHero’s mobile apps and website to find, book and access off-street parking in over 8,000 locations across 300 cities in the U.S. and Canada. Leading operator partners leverage SpotHero’s AI-powered dynamic pricing platform SpotHero IQ to power data-driven decisions. For more information, visit SpotHero.com.

Contacts

Press@spothero.com

SpotHero Promotes Nate Phillips to SVP of Market Development

September 28, 2021

SpotHero Promotes Nate Phillips to SVP of Market Development

Parking and Transportation Expert Will Spearhead SpotHero’s Continued Growth

CHICAGO — SpotHero, the digital parking leader in North America, today announced the promotion of Nate Phillips to senior vice president of market development. Phillips joined SpotHero as vice president of enterprise sales and client development in 2016. Since that time, he has been instrumental in the success of SpotHero’s parking reservation app for Android Auto and Apple CarPlay, which allows drivers to view, navigate to and redeem SpotHero reservations via their car’s dashboard in over 300 cities. Phillips was also responsible for the ideation, creation and launch of SpotHeroIQ, a process automation app for parking lot operators that has been adopted by 800 locations in just eight months.

“Nate has developed the partnerships that make SpotHero the go-to parking app in North America. He’s also identified and helped close the acquisitions we’ve needed to expand our capabilities,” said SpotHero co-founder and CEO Mark Lawrence. “We promoted Nate to SVP and expanded his role so he can pave the way to even more aggressive product and company growth.”

In his previous position as SpotHero’s VP of enterprise sales and client development, Phillips worked with the parking industry’s largest operators to foster technology innovation and adoption across the industry. Before that, he applied his technology and operations expertise at Propark and Urban Mobility Now, where he served as senior vice president and worked to scale one of the largest parking and transportation companies in the U.S.

“SpotHero takes the friction out of finding a paid parking spot. I will be spearheading our strategy with technology providers and operators throughout the industry to help prioritize the types of integrations we develop, and when, to ensure we are providing a heroic experience for our parkers,” said Phillips. “I will also be working cross-departmentally to help identify and ultimately open new markets.”

As a 22-year parking industry veteran, Phillips has a unique understanding of the marketplace dynamics in cities, including consumer behavior, operator presence and Parking Access Revenue Control Systems (PARCS). His promotion signals SpotHero’s commitment to growth market investment, industry-leading integrations and quality service outcomes.

“Nate will be the sage voice of the parking industry, guiding strategic decision making in SpotHero’s three core areas: market development, integration priorities, and industry thought leadership,” said Lawrence. “He has fantastic, long-standing relationships throughout the industry that will greatly help our PARCS and technology relationships.”

About SpotHero

SpotHero is the digital parking leader and only independent off-street parking marketplace in North America. Millions of drivers use SpotHero’s mobile apps and website to find, book and access off-street parking in over 7,500 locations across 300 cities in the U.S. and Canada. Leading operator partners leverage SpotHero’s AI-powered dynamic pricing platform SpotHero IQ to power data-driven decisions. For more information, visit SpotHero.com.

SpotHero IQ Now Offers Dynamic Pricing At Over 1000 Parking Facilities

March 23, 2021

SpotHero IQ Now Offers Dynamic Pricing At Over 1000 Parking Facilities

Data science-powered dynamic pricing platform increases revenue by an average of more than 40% for parking facilities

CHICAGO — MARCH 23, 2021 — SpotHero, the digital parking leader in North America, today reaches a parking industry first by launching dynamic pricing capabilities at over 1000 parking facilities. SpotHero IQ offers the most extensive demand data set in the $36B North American parking industry, incorporating real-time demand data for the most complete view of consumer behavior.

Now live in over 65 cities with 100 operators at over 1000 parking facilities, SpotHero IQ provides parking operators automated rate recommendations and inventory management solutions. SpotHero IQ automates the once manual task of adjusting online parking rates by giving parking operators data-driven dynamic rates. This empowers operators to determine optimal pricing in both high- and low-demand environments using real-time data. For drivers, this delivers on the SpotHero mission to make getting everywhere easier at the right price.

“As we approach COVID recovery, it’s never been more important to make data-informed decisions about how to price inventory,” said SpotHero Co-Founder & CEO Mark Lawrence. “SpotHero IQ enables operators to proactively manage demand volatility, whether that be a lull due to lockdown or spike once cities are booming again. In doing so, we help optimize online sales for maximum revenue for our partners.”

Operator partners leveraging the platform see an average revenue increase of greater than 40%. One Parking, a national parking operator with more than 80,000 spaces under management, has seen a 44% revenue boost across 19 locations via SpotHero IQ.

“By having real-time data on where parking is needed and when all inventory and pricing decisions we make are backed by valuable numbers,” said One Parking Vice President Rosario Palella. “This has been a game changer, allowing us to capture parkers in timeframes we wouldn’t have previously. We’re thrilled to join SpotHero at the forefront of the parking industry’s shift toward digital and dynamic pricing.”

SpotHero IQ consists of a broader product family for every partner’s unique needs. The suite’s namesake product, SpotHero IQ, brings demand-based pricing for online inventory to all parking facilities at no cost to operators. SpotHero IQ+ integrates with PARCS to layer in parking occupancy data with online demand and provides robust business intelligence tools. Future developments will offer full yield management for all parking inventory.

To learn more about SpotHero IQ and register for exclusive video content, visit spothero.com/sell-parking/iq.

About SpotHero

SpotHero is the digital parking leader and only independent off-street parking marketplace in North America. Millions of drivers use SpotHero’s mobile apps and website to find, book and access off-street parking in over 7,500 locations across 300 cities in the U.S. and Canada. Leading operator partners leverage SpotHero’s AI-powered dynamic pricing platform SpotHero IQ to power data-driven decisions. For more information, visit SpotHero.com.

CONTACT: Brooke Saharovici
press@spothero.com

SpotHero Introduces Apple CarPlay Integration, Bringing Parking To Your Car’s Dash

December 02, 2020

SpotHero Introduces Apple CarPlay Integration, Bringing Parking To Your Car’s Dash

For the first time ever, drivers can now find and book parking with SpotHero in CarPlay

CHICAGO—Today SpotHero, the digital parking leader in North America, brings parking to the display screen of your car with Apple CarPlay. Drivers can now use SpotHero with CarPlay to find, book and pay for off-street parking in over 300 cities across North America without touching a phone.

CarPlay is the smarter, safer way to use your iPhone while you drive. After traffic, finding parking is often the biggest challenge that drivers face. Twice as many drivers (48%) would prefer a parking solution connected to their in-car display vs. using a standalone app (24%), according to a survey of 18,000 drivers across 30 cities.

“Drivers want the ability to use SpotHero directly in their car,” said SpotHero Senior Vice President of Strategy & Operations Elan Mosbacher. “Through the CarPlay experience, we make life easier for drivers by expanding SpotHero from a standalone app to a parking solution available in your car’s head unit.”

Drivers can book and pay for parking near their destination, rebook at a recently visited parking facility or pull up an existing parking pass while en route to a destination. SpotHero joins the CarPlay app ecosystem that includes navigation, audio, communication and more. To get started with this CarPlay integration, drivers need the latest version of the SpotHero app and iOS 14.

In addition to expanding to the connected car this year, SpotHero acquired Toronto-based Rover Parking, introduced touchless parking for drivers and rolled out dynamic pricing for parking operators.

About SpotHero

SpotHero is the digital parking leader and the largest place to buy and sell parking in North America. Millions of drivers use SpotHero’s mobile apps and website to find, book and access off-street parking in over 7,000 locations across 300 cities. Leading mobility companies use the SpotHero developer platform to power seamless parking at scale for fleets, connected cars and urban mobility solutions. For more information, visit SpotHero.com.

SpotHero To Acquire Rover Parking To Expand Canadian Footprint

September 10, 2020

SpotHero To Acquire Rover Parking To Expand Canadian Footprint

CHICAGO—-Sep 10, 2020– SpotHero, the digital parking leader in North America, announced today the signing of an agreement to acquire Rover Parking, a leading consumer parking app in Canada. This acquisition accelerates SpotHero’s market leadership position in North America, helping the company gain access to thousands of parking locations across Canada. The deal is expected to close in the fourth quarter of 2020.

“We’re excited to welcome Rover’s team, parking partners and customers,” said SpotHero Founder & CEO Mark Lawrence. “This acquisition will expand our team and parking inventory in Canada at a time when more people are choosing a personal car as their preferred mode of transportation.”

Rover Parking was founded in Toronto by CEO Tim Wootton, Andrew Holbrook and Grant Brigden in 2014 as a peer-to-peer parking marketplace. The company has since grown into servicing B2B and commercial facilities across several cities including Toronto, Calgary and Montreal.

“Rover Parking is thrilled to continue our journey as members of the SpotHero team,” said Rover Parking Founder and CEO Tim Wootton. “We look forward to increasing revenue for our existing parking partners and further expanding SpotHero’s presence in the commercial parking market in Canada.”

After the closing of the acquisition, Tim Wootton will become Head of Canada and the Toronto-based team will run SpotHero’s commercial supply business across the country. This announcement follows a new SpotHero partnership with one of Canada’s leading commercial parking operators Target Park, a partnership with Toronto Pearson Airport and a $50 million Series D fundraising round in August 2019.

About SpotHero

About Rover

Rover Parking is a leading consumer parking app in Canada with thousands of parking locations in Toronto, Calgary, Montreal and more. Rover helps all types of parking owners monetize their under-utilized parking supply by making parking spots available to drivers through the award winning Rover app. For more information, visit RoverParking.com.

ParkHub and SpotHero Team Up to Promote a Contactless Event Parking Experience

May 27, 2020

ParkHub and SpotHero Team Up to Promote a Contactless Event Parking Experience

Leading parking platforms collaborate to help venues facilitate touch-free payments, streamline operations, and leverage actionable arrival data

DALLAS and CHICAGO, May 26, 2020 — ParkHub and SpotHero, leaders in digital parking solutions, have joined forces to promote a contactless, frictionless parking experience for fans and guests. The companies’ integrated technology solution allows venues to sell parking in advance of events, swiftly authenticate digital passes onsite, and manage parking demand during operations. As part of the promotion, SpotHero is offering ParkHub clients up to 50% off their standard rate for a limited time.

“Due to the pandemic, contactless services have transitioned from a convenience to a considerable necessity,” said George Baker Sr., CEO of ParkHub. “We are eager to work with SpotHero to incentivize this pivot in parking operations. Through collaboration, we can protect our partner’s returning customers and staff, and proactively drive value to venues as they plan to reopen.”

Over a year before the COVID-19 crisis took hold, ParkHub and SpotHero executed a long-term partnership to improve the parking experience for consumers across the United States. By integrating platforms, the companies established a seamless, end-to-end parking experience that has been adopted by Major League Baseball’s Washington Nationals, Major League Basketball’s Chicago Bulls and Milwaukee Bucks; National Hockey League’s Chicago Blackhawks, and National Football League’s Ravens, through SP+ Baltimore.

ParkHub’s market-leading technology is currently used by over 300 professional sports teams, entertainment venues, universities, and state parks. The company’s mobile point-of-sale device scans prepaid parking passes and offers digital payment options on site. All transactions are sent to ParkHub’s business intelligence system, Suite, which provides real-time data insights and robust analytics on demand.

SpotHero’s top-tier parking reservation platform allows customers to find and pay for parking spots in advance. SpotHero’s digital parking passes are validated by ParkHub’s mobile point-of-sale devices onsite, providing a seamless, touch-free parking experience and instant access control. By implementing prepaid parking options, venues prevent customers and staff members from handling cash. Additionally, data has shown that efficient parking processes help boost concession revenue as fans arrive earlier and have more time to enjoy services inside the venue.

“SpotHero’s seamless reservation platform in partnership with ParkHub enables us to offer an end-to-end contactless parking solution for venues and their guests,” said Elan Mosbacher, Senior Vice President of Strategy & Operations, SpotHero. “We’re thrilled to partner with ParkHub to bring peace of mind to millions of drivers, event-goers, and venue staff as they return to the stands.”

This week, on Thursday, May 28th, at 3 pm CST, ParkHub and SpotHero are offering a free webinar to provide timely insights on how businesses can implement contactless, frictionless parking operations in the aftermath of the pandemic. Register at this link.

About ParkHub
ParkHub is a Dallas-based technology company that provides software and hardware services for the global parking industry. The company’s products provide multiple payment options, real-time reporting of parking revenue, support for dynamic pricing, and inventory availability and control. ParkHub technology integrates with numerous prepaid parking and ticketing providers. Founded by parking industry veteran, George Baker, Sr. ParkHub has effectively fast-tracked traditional parking operations into the digital age. For more information, visit parkhub.com.

About SpotHero
SpotHero is the digital parking leader and the largest place to buy and sell parking in North America. Millions of drivers use SpotHero’s mobile apps and website to find, book and access parking in more than 7,000 locations across 300 cities. Leading mobility companies use the SpotHero developer platform to power seamless parking at scale for fleets, connected cars, and urban mobility solutions. For more information, visit SpotHero.com.

The South Terminal at Austin-Bergstrom International Airport Selects SpotHero to Power On-Airport Parking Reservations

November 15, 2019

The South Terminal at Austin-Bergstrom International Airport Selects SpotHero to Power On-Airport Parking Reservations

Latest Partnership Caps a Year of Rapid Growth for SpotHero’s Airport Parking Vertical

Chicago, IL — Nov. 14, 2019 — SpotHero, the leader in digital parking, today announced a partnership with The South Terminal at Austin-Bergstrom International Airport (AUS), giving travelers a simple way to find and reserve guaranteed, affordable, and conveniently located on-airport parking. Adding to nearly 100,000 parking spots serving the top 60 airports in North America, SpotHero is prepared for the busiest holiday travel season in history: last year, a record 112.5 million Americans, roughly one-third of the country’s population, traveled in December—a 4.4% increase from the previous year.

The South Terminal at Austin-Bergstrom International Airport, operated by LoneStar Airport Holdings, marks SpotHero’s first on-airport parking partnership in the United States. SpotHero previously announced an on-airport partnership with Toronto Pearson International Airport in May. Capping a year of significant expansion at airports nationwide, SpotHero nearly doubled its number of airport parking facilities in 2019, and is now offering travelers nearly 100,000 parking spaces at 400 facilities serving 60 airports.

SpotHero’s airport expansion comes at a time when airports across the country are increasingly rethinking and streamlining curbside transportation. In efforts to reduce curbside traffic, a number of airports, including AUS, have already relocated rideshare arrivals and departures to more removed locations. As airports and travelers adjust to the transition, driving and parking at the airport provides a convenient and often more affordable alternative, without adding to congestion in crowded pick-up and drop-off locations.

“With the most expansive network of airport parking options in North America, SpotHero has an unparalleled understanding of the unique challenges airports face, and is the ideal partner to help us improve the parking experience for South Terminal passengers,” said Brooke Dorrien, CFO of LoneStar Airport Holdings. “Together, we’ve reimagined airport parking to save travelers precious time, eliminate the stress and uncertainty of searching for a spot and simplify the air travel experience overall.”

“SpotHero helps simplify parking for millions of drivers each month—and this year, we’ve invested aggressively to build the largest online network of airport parking options in North America,” said Steven Junkins, Airport Supply Lead at SpotHero. “We’re inspired by The South Terminal’s dedication to improving the travel experience by becoming our first on-airport partner in the United States, offering unprecedented ease and convenience to its passengers. We look forward to working together to enhance the travel experience.”

For more information on SpotHero’s airport business, or to book airport parking ahead of your own holiday travel, visit SpotHero.com.

About SpotHero

SpotHero is the digital parking leader and the largest place to buy and sell parking in North America. Millions of drivers use SpotHero’s mobile apps and website to find, book and access parking in 7,000 locations across 300 cities. Leading mobility companies use the SpotHero developer platform to power seamless parking at scale for fleets, connected cars, and urban mobility solutions. For more information, visit SpotHero.com.

Chicago’s United Center Selects SpotHero as an Official Parking Partner

October 28, 2019

Chicago’s United Center Selects SpotHero as an Official Parking Partner

Fans from across the Midwest can now find, book and pay for parking ahead of Bulls and Blackhawks games, and all United Center events

CHICAGO —- The United Center and SpotHero today announced an official partnership that enables fans to find, book and pay for event parking using SpotHero. Just in time for the start of hockey and basketball seasons, guests will have access to official United Center parking spots available on SpotHero’s app and website, eliminating the stress of looking for parking upon arrival and enhancing the overall fan experience.

Since its inception in 1994, the United Center has welcomed nearly 60 million visitors into its arena and hosts over 200 events a year. With fans driving to Chicago from all over the midwest to see Bulls and Blackhawks games, along with concerts and other United Center events, this partnership allows fans to spend less time searching for a parking spot and more time in their seats cheering on their favorite team.

“The United Center is a landmark venue and host to some of the world’s top athletes, musicians, and entertainers,” said Paolo Lorenzoni, VP of Strategic Verticals at SpotHero. “Driving and parking is how thousands of Bulls and Blackhawks fans travel to the arena every game, and we want to make this process more convenient. We are thrilled to partner with the United Center in our hometown of Chicago, helping ease the stress of travel for fans and maximize the game day experience.”

“By utilizing SpotHero’s innovative platform, we are providing fans an additional option for parking at the United Center,” said Joe Myhra, SVP Operations & Administration for the United Center. “We are excited to make SpotHero an official partner and look forward to implementing this season.”

Available parking inventory at the United Center can be found by searching “United Center” on the SpotHero app or SpotHero.com or at unitedcenter.com/venue/directions-parking. For a full list of upcoming United Center events, see here.

About SpotHero

SpotHero is the digital parking leader and the largest place to buy and sell parking in North America. Millions of drivers use SpotHero’s mobile apps and websites to find, book and access off-street parking in over 7,000 locations across 300 cities. Leading mobility companies use the SpotHero platform to power seamless parking at scale for fleets, connected cars, and urban mobility solutions. For more information, visit SpotHero.com.

About The United Center
The United Center is a state-of-the-art, multi-use entertainment facility that has welcomed more than 57 million fans since opening in 1994. Home of the Chicago Bulls of the National Basketball Association and the Chicago Blackhawks of the National Hockey League, the United Center hosts more than 200 events each year, including the best sporting events, musical performers, family shows, and special events in the industry. A commitment to superior service makes the United Center one of the top venues in the world. For more information, visit www.unitedcenter.com.

SpotHero and The Parking Spot Announce Preferred Partnership to Power Digital Parking Reservations Near Airports Nationwide

September 03, 2019

SpotHero and The Parking Spot Announce Preferred Partnership to Power Digital Parking Reservations Near Airports Nationwide

CHICAGO, IL – As 17.5 million passengers prepare to travel through the nation’s airports this Labor Day weekend, SpotHero, the largest place to buy and sell parking in North America, and The Parking Spot, the largest owner and operator of near-airport parking properties, today announced a preferred partnership to simplify airport parking and reduce travel stress at 23 airports nationwide. Airport travelers can now find, book and access parking at 35 of The Parking Spot’s 39 locations using the SpotHero mobile app or website with promotional pricing in time for Labor Day. The remaining locations will launch in the coming weeks.

SpotHero and The Parking Spot share a vision to make travel less stressful and more enjoyable for passengers. Drivers who use any of The Parking Spot’s convenient locations are treated to a superior airport parking experience: conveniently located, well-lit, 24-hour facilities, offering options like car washes, valet service, luggage assistance, complimentary beverages and covered parking. All locations offer continuous and on-demand shuttle service.

“Travelers are used to managing every aspect of their travel experience from the palm of their hands. Parking should be no different. The Parking Spot’s market leadership, focus on hospitality-level service and best-in-class customer experience helps us further deliver on this promise,” said Paolo Lorenzoni, VP of Strategic Verticals at SpotHero.

“Partnering with a market leader like SpotHero allows The Parking Spot to reach a much larger audience of drivers who trust the SpotHero brand to help them find convenient, affordable parking across the country,” said Lauren Rocklin, Senior Vice President of Marketing for The Parking Spot. “We are excited about the opportunity to introduce millions of SpotHero users to The Parking Spot airport experience.”

SpotHero is driving the digital transformation of the $20B off-street parking industry. The company offers commuter, monthly, event and airport parking solutions with hardware and software for drivers, parking operators and property owners. SpotHero is now available near 60 airports in the US and Canada. Earlier this year, SpotHero announced an on-airport partnership with Toronto Pearson International Airport to give passengers easy and convenient transportation options at every price point. In 2018, SpotHero’s airport business grew 120% year over year.

About SpotHero

SpotHero is the digital parking leader and the largest place to buy and sell parking in North America. Millions of drivers use SpotHero’s mobile apps and websites to find, book and access off-street parking in 7,000 locations across 300 cities. Leading mobility companies use the SpotHero platform to power seamless parking at scale for fleets, connected cars, and urban mobility solutions. For more information, visit SpotHero.com.

About The Parking Spot

As the nation’s largest near-airport parking company, with 39 convenient locations at 23 major U.S. airports, The Parking Spot makes airport travel simple and seamless. Our friendly, courteous team members, outstanding value, unmatched customer service commitment and industry-leading Spot Club loyalty program combine to ensure that The Parking Spot is the best part of our guests’ travel experience. For more information, please visit www.theparkingspot.com or follow The Parking Spot on Twitter @theparkingspot, on Instagram @theparkingspotofficial and on Facebook.

SpotHero Announces $50 Million Series D Funding Led by Macquarie Capital

August 22, 2019

SpotHero Announces $50 Million Series D Funding Led by Macquarie Capital

CHICAGO — SpotHero, the digital parking leader, today announced $50 million in Series D funding led by Macquarie Capital, bringing SpotHero’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 new capital will be used to accelerate marketplace growth, expand the digital platform for the parking industry, strengthen partnerships with leading mobility companies, and deepen SpotHero’s technology stack to standardize and optimize access to parking throughout North America.

SpotHero is driving the digital transformation of the $20B off-street parking industry with hardware and software solutions aimed at drivers, parking operators and property owners, and mobility partners. The company offers the largest place to buy and sell parking in North America and has helped digitize nearly 7,000 parking facilities in the US and Canada. SpotHero’s consumer products help millions of drivers find, book and access parking, while the SpotHero developer platform and API powers parking at scale for fleets, connected cars, and urban mobility apps.

In the first half of 2019, SpotHero:

Reached half a billion dollars in all-time sales, the majority transacted within the past year. The company is now on pace to reach $1 billion all-time transactions within the next year;
Assembled a team of executives from Uber, Expedia, Groupon and Cars.com, and is planning to double product and engineering headcount to more than 100 in the next year;
Announced SpotHero for Fleets, an industry-first parking-as-a-service solution designed to support the car sharing economy and help accelerate the mobility industry’s eventual transition to autonomous vehicles;
Hit 900-plus distribution partnerships and integrations including everything from Google Assistant, for voice-enabled parking; Waze, for seamless in-app navigation to parking; Hertz and car2go for fleet parking; WeWork, for commuter parking; and Moovit, for multi-modal parking;
Rolled out SpotHero for Business to over 600 corporate travel and enterprise clients.

At the intersection of infrastructure, real estate and technology, parking remains an industry in transition. It is being redefined by three of the biggest trends affecting cities today: mobility, congestion, and sustainability. By 2050, 68% of the world’s population is projected to live in cities, where aging infrastructure is already being pushed to the brink. In response, policymakers are experimenting with immediate solutions to reduce traffic, including congestion pricing and curb redesign, designating dedicated curb space for multi-modal use such as bike lanes or pick up and drop off zones. This transformation of the curb is reducing the availability of on-street parking and beginning to push more drivers to off-street facilities. To accelerate and streamline this transition, SpotHero is bringing underutilized and often invisible parking spaces online, reducing the need to build even more new parking structures in crowded cities.

“By standardizing the way parking is bought and sold, we are introducing the same visibility into parking inventory that people expect from the airline or hospitality industries,” said Mark Lawrence, CEO and co-founder, SpotHero. “That’s a big win for drivers, but there’s still a lot of work to be done to modernize parking. Together with our network of more than 1,000 operator and platform partners, and our new and existing investors, we look forward to bringing this next phase of industry growth to life.”

“SpotHero is in position to transform the entire parking industry and has built a foundation to support the future of mobility for a long time to come, including the movement towards shared use and EV fleets,” said Lucas Joynt, Senior Vice President, Macquarie Capital. “SpotHero’s leadership position makes the company an attractive investment for Macquarie Capital as we continue to drive innovation at the intersection of infrastructure, real estate and technology. We look forward to supporting SpotHero as it scales to its next phase of growth.”

To learn more, visit SpotHero.com.

To download the free SpotHero app, visit the App Store or Google Play.

About SpotHero

SpotHero is the digital parking leader and the largest place to buy and sell parking in North America. Millions of drivers use SpotHero’s mobile apps and website to find, book and access off-street parking in 7,000 locations across 300 cities. Leading mobility companies use the SpotHero developer platform to power seamless parking at scale for fleets, connected cars, and urban mobility solutions. For more information, visit SpotHero.com.

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