What is SpotHero?
Founded in 2011 and headquartered in Chicago, Illinois, SpotHero Inc. operates a digital platform that revolutionizes the parking experience. The company provides a user-friendly mobile application and website, enabling drivers to efficiently locate, reserve, and pay for discounted parking spots. By aggregating parking inventory and offering real-time pricing and availability, SpotHero addresses a critical pain point for urban commuters and travelers, streamlining the often-frustrating process of finding parking.
How much funding has SpotHero raised?
SpotHero has raised a total of $119M across 6 funding rounds:
Private Equity
$2.5M
Series A
$4.5M
Series B
$20M
Private Equity
$12M
Series C
$30M
Series D
$50M
Private Equity (2012): $2.5M with participation from Draper VC, e.Ventures, Battery Ventures, Lightbank, OCA Ventures, and 500.com
Series A (2014): $4.5M led by Bullpen Capital, Chicago Ventures, Lightbank, e.ventures, Draper Associates, Battery Ventures, G2T3V, 500.com, Lakewest Venture Partners, Corazon Capital, and Blossom Street Ventures
Series B (2015): $20M supported by Chicago Ventures, Pritzker Group Venture Capital, Insight Venture Partners, Battery Ventures, 500.com, Bullpen Capital, Draper Associates, Monkfish Equity, and OCA Ventures
Private Equity (2017): $12M, investors not publicly disclosed
Series C (2017): $30M backed by Pritzker Group, Global Founders Capital, Insight Venture Partners, Chicago Ventures, OCA Ventures, Math Venture Partners, AutoTech Ventures, Bullpen Capital, Corazon Capital, and Draper Associates
Series D (2019): $50M with participation from Global Founders Capital, AutoTech Ventures, OCA Ventures, Insight Venture Partners, and Macquarie Capital
Key Investors in SpotHero
Global Founders Capital
Global Founders Capital is a global early-stage investor that empowers gifted entrepreneurs by backing them from pre-seed to IPO. With a track record of supporting over five hundred entrepreneurs worldwide, including notable companies like Facebook and LinkedIn, GFC focuses on category-defining ventures.
Insight Venture Partners
GO is a private platform purpose-built for Insight Partners' portfolio company leaders. GO unifies our 500+ software portfolio companies to foster connections, strengthen leadership, expand their brain trust, and provide support as they scale.
Pritzker Group
Pritzker Group is a family-backed investment firm that focuses on long-term partnerships with companies, particularly those that are entrepreneur- and family-owned. The firm offers a permanent capital base that facilitates efficient decision-making and flexible transaction structures.
What's next for SpotHero?
The substantial enterprise-level funding and recent strategic investment indicate that SpotHero is poised for accelerated expansion and further technological development. This capital infusion is likely to fuel initiatives such as enhancing its platform's capabilities, expanding its geographic reach, and forging new partnerships within the automotive and urban planning sectors. The company's trajectory suggests a continued focus on solidifying its leadership in the digital parking market and exploring adjacent opportunities in smart city infrastructure and mobility services.
See full SpotHero company page
