Interested in learning what's next for the gaming industry? Join gaming executives to discuss emerging parts of the industry this October at GamesBeat Summit Next. Learn more.


Parking inventory and booking startup SpotHero announced it has raised $30 million in a series C round of funding from Insight Venture Partners, Global Founders Capital, Autotech Ventures, and others.

Founded out of Chicago in 2011, SpotHero offers an online platform that connects drivers with garages, lots, and valets across North America. The company had previously raised $27 million in equity funding and with its latest cash injection plans to accelerate its ability to “market innovative parking reservation tools and mobile technologies that make parking easy and efficient,” according to a company statement.

More specifically, the funds will be used to help SpotHero expand further across the U.S. and Canada while also doubling down on its investments in business-focused products and a new suite of mobile payment and operations apps, called “HeroTech,” that’s launching later this summer.

Today’s funding news comes just a few months after SpotHero launched its new developer platform to expand its parking inventory into third-party apps, as well as SpotHero for Business to help employees submit parking expenses to their companies directly. SpotHero also expanded into Canada via its acquisition of rival service Parking Panda.

Event

Transform 2022

Join us at the leading event on applied AI for enterprise business and technology decision makers in-person July 19 and virtually from July 20-28.

Register Here

Autotech Ventures’ involvement is also notable, as it comes less than a week after the Menlo Park-based VC firm — with a focus on connecting automotive giants with startups — closed its inaugural fund at $120 million.

VentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative enterprise technology and transact. Learn more about membership.

Author
Topics