About SpotHero
SpotHero is a company based in Chicago (United States) founded in 2011 by Lawrence Kiss and Mark Lawrence.. SpotHero has raised $118.33 million across 8 funding rounds from investors including Macquarie Group, Union Grove Venture Partners and Insight Partners. SpotHero has completed 3 acquisitions, including ParkPlease, Parking Panda and Rover Parking. SpotHero operates in a competitive market with competitors including Way, The Parking Spot, Parkade, Park 'N Fly and QP QuickPay Parking, among others.
- Headquarter Chicago, United States
- Founders Lawrence Kiss, Mark Lawrence
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Sectors
Transportation, Automotive & Logistics
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Email
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Phone
*********
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Website
*********
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Social
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$118.33 M (USD)
in 8 rounds
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Latest Funding Round
$50 M (USD), Series D
Aug 22, 2019
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Investors
Macquarie Group
& 23 more
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Employee Count
Employee Count
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Investments & Acquisitions
ParkPlease
& 2 more
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Software Development Team
33 people
Product Management Team
24 people
Senior Team
12 people
Sales and Marketing
6 people
Staff Team
5 people
Finance and Accounting
5 people
Human Resources and Administration
5 people
Data Analysis and Operations Team
4 people
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Funding Insights of SpotHero
SpotHero has successfully raised a total of $118.33M across 8 strategic funding rounds. The most recent funding activity was a Series D round of $50 million completed in August 2019. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 8
- Last Round Series D — $50.0M
- First Round First Round
- Investors Count 24
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Aug, 2019 | Amount | Series D - SpotHero | Valuation | Macquarie Group | |
| Dec, 2018 | Amount | Series C - SpotHero | Valuation |
investors |
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| Sep, 2018 | Amount | Series C - SpotHero | Valuation |
investors |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in SpotHero
SpotHero has secured backing from 24 investors, including institutional, venture fund, and angel investors. Prominent investors backing the company include Macquarie Group, Union Grove Venture Partners and Insight Partners. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Investments in growth-stage US tech companies are targeted.
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Founded Year | Domain | Location | |
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Investment firm scaling software and technology companies from early to late stages.
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Founded Year | Domain | Location | |
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Venture capital firm focused on early-stage startups
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by SpotHero
SpotHero has strategically engaged in corporate development activities, having acquired 3 companies. Notable acquisitions include ParkPlease, Parking Panda and Rover Parking. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Online platform to list, find, and book parking spots
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2014 | ||||
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P2P Parking Marketplace
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2012 | ||||
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Parking spaces are reserved via an online marketplace platform.
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2011 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - SpotHero
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Spothero Comparisons
Competitors of SpotHero
SpotHero operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Way, The Parking Spot, Parkade, Park 'N Fly and QP QuickPay Parking, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
App-based platform to find car parking, auto insurance & car wash services
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| domain | founded_year | HQ Location |
Airport parking is provided via online bookings and shuttle services.
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| domain | founded_year | HQ Location |
Peer-to-peer parking spaces are booked via a mobile app.
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| domain | founded_year | HQ Location |
Airport parking spaces are scouted and booked via mobile app.
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| domain | founded_year | HQ Location |
Provides integrated mobile technology for parking services and solutions.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Spothero
Frequently Asked Questions about SpotHero
When was SpotHero founded?
SpotHero was founded in 2011 and raised its 1st funding round 1 year after it was founded.
Where is SpotHero located?
SpotHero is headquartered in Chicago, United States. It is registered at Chicago, Illinois, United States.
Who is the current CEO of SpotHero?
Mark Lawrence is the current CEO of SpotHero. They have also founded this company.
Is SpotHero a funded company?
SpotHero is a funded company, having raised a total of $118.33M across 8 funding rounds to date. The company's 1st funding round was a Series C of $10M, raised on Aug 27, 2012.
What does SpotHero do?
SpotHero was founded in 2011 in Chicago, United States. Operations focus on an app-based platform for parking reservations in the mobility sector. Bookings are handled via online and mobile applications on Android and iOS devices. Facilities for parking reservations are extended to businesses as well as individual customers. The service supports reservations across various urban locations.
Who are the top competitors of SpotHero?
SpotHero's top competitors include Way, The Parking Spot and Parkade.
How many acquisitions has SpotHero made?
SpotHero has made 3 acquisitions, including ParkPlease, Parking Panda, and Rover Parking.
Who are SpotHero's investors?
SpotHero has 24 investors. Key investors include Macquarie Group, Union Grove Venture Partners, Insight Partners, Global Founders Capital, and OCA Ventures.
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