SpotHero Secures $30 Million

Parking technology startup SpotHero closed $30 million in Series C financing.

The Chicago-based company, founded in 2011 by Mark Lawrence and Lawrence Kiss, allows users to search for available parking spots and reserve spaces by paying ahead of time. For people living in large cities like Los Angeles and New York, looking for parking can be a constant daily struggle. According to the company, SpotHero has facilitated more than seven million parking transactions in the last six years. It has an extensive network of more than 5,000 garages, lots, and valets in major U.S. cities, and it is the number-one downloaded parking reservation app,

In its announcement, the company said the funding will be used to continue its geographic expansion and advance its mobile functionality.