Chicago parking startup ParkWhiz has landed additional equity for a recent funding round from a group of new investors, which includes Amazon’s Alexa Fund.
ParkWhiz said Tuesday that it has added an additional $5 million to its $20 million Series D round, which was led by NewSpring, a Pennsylvania-based private equity firm. Besides Amazon, other new investors include Alate Partners, Chaifetz Group and Purple Arch Ventures. The startup has now raised more than $60 million since it launched in 2007.
The new investment from Amazon could help ParkWhiz further develop a feature that allows users to find parking on its platform using Alexa.
“The Alexa Fund was created to support companies building compelling products and services that leverage voice technology, and ParkWhiz is a fast-growing company that fits that profile perfectly,” said Paul Bernard, director of the Amazon Alexa Fund, in a statement. “Customers love using its Alexa skill to find and reserve parking spaces using just their voice, and we’re excited to support them as they pursue deeper integrations with Alexa at home and on the go."
ParkWhiz, an app that lets people find, book and pay for off-street parking, provides drivers access to parking lots and garages in over 190 cities across North America. The company says it will use the new funds and partnerships with its investors to expand its Arrive Network, a last-mile parking solution that allows drivers to seamlessly pay, enter and exit participating lots and garages.
“We’ve been working closely with Amazon and Alate Partners, and we’re excited to welcome them as strategic investors in ParkWhiz,” said Yona Shtern, the CEO and executive chairman of ParkWhiz, in a statement. “It represents an important opportunity for us to work together to further accelerate our growth, expand our inventory footprint to more premium properties in major urban centers across North America and bring a better way to park to millions of consumers through the Arrive Network.”
