[marothisu]

Going global: ParkWhiz targets international expansion after raising $20M Series D

https://www.builtinchicago.org/2018/...llion-series-d

Chicago tech’s great funding week just got better.

Parking technology company ParkWhiz announced today that it has raised a $20 million Series D.

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“We’ve grown the reach of our marketplace from about three million consumers to 40 million in two years,” said CEO Yona Shtern.
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ParkWhiz has primarily expanded its reach through partnerships. Shtern said the company’s technology powers parking solutions for over 300 partners, a list which includes the likes of Ford, Madison Square Garden and Groupon. This round will be used to grow that number of partners and bring more drivers onto the platform.

In addition to bringing on more partners, ParkWhiz will grow the number of garages and parking lots on its platform. The company is already in 190 cities across North America, and with this round, it’s planning to go international. Shtern would not provide specifics, but did say an announcement would be made before the end of the year.

While the funding announcement doesn’t come with a significant hiring announcement, Shtern said the team will grow as the business does. ParkWhiz’s Chicago office has a headcount of around 110 people. ParkWhiz was founded in 2006 and has raised $56 million.

“Parking in North America is about a $35 billion industry, and globally it’s about $100 billion,” said Shtern. “This year we’re on track to do $100 million in bookings, and we’re not even scratching the surface.”

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SpotHero Raises Another $10M

https://www.americaninno.com/chicago...s-another-10m/

It’s been a busy summer for SpotHero.

The parking startup outfitted 500 Chicago parking facilities with new driverless car-enabled technology, announced a partnership with Waze to install bluetooth beacons on Lower Wacker Drive to improve cellphone signals, and is in talks with electric scooter companies to potentially use SpotHero garages as places to park e-scooters when not in use.

That news follows other big partnerships SpotHero announced this calendar year, including deals with Hertz and Google Assistant.

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This week SpotHero raised an additional $10 million in funding, bringing its total amount raised to $68 million since it launched in 2011. Lawrence said the round was backed by existing investors, though he declined to name the specific backers.

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SpotHero is one of Chicago’s most promising startups. The company employs more than 200 people and says it has helped park more than 20 million cars to date.