We have some exciting news to share today. We’re thrilled to tell you that we’ve raised $24 million in Series C funding and acquired BestParking – the No. 1 New York City parking app . The funding and acquisition will allow us to rapidly increase our footprint, grow in the mobile space, and accelerate our product development.
Our new funding is led by Baird Capital with participation by growth capital investor Beringea and existing investor Jump Capital.
With our focus on providing drivers with a seamless and hassle-free parking experience and parking operators with efficient technology, we have grown to be the leader in the on-demand parking space. Bolstering that leadership even more is our acquisition of BestParking.
We’d like to welcome Ben Sann, founder and president of BestParking, and his team to ParkWhiz. The entire BestParking team is smart, creative and innovative, and we’ve continuously shared a combined vision to provide the best possible experience for our users.
The acquisition will give us the most comprehensive coverage in the country with more than 4,000 parking locations and over 800,000 spaces in over 50 major cities across the U.S. Together, we are the No. 1 booking platform and richest parking data resource in North America. We drove over $50 million in revenue to parking operators in 2015, with more than 1 million bookings in New York City alone.
If you haven’t already, you can download ParkWhiz in the App Store or Google Play to book your space before you leave your house and your parking spot is guaranteed to be waiting for you. If you’re using your mobile phone, you have the added benefits of door-to-door directions, a mobile parking pass and special discounts.
We’re excited about the year ahead.