Parking app SpotHero has agreed to acquire Canadian company Rover Parking as it expands its footprint in North America.
Chicago-based SpotHero didn’t provide terms of the deal but said the acquisition will help it gain access to thousands of parking locations across Canada.
“We’re excited to welcome Rover’s team, parking partners and customers,” said SpotHero founder and Chief Executive Mark Lawrence said in a statement. “This acquisition will expand our team and parking inventory in Canada at a time when more people are choosing a personal car as their preferred mode of transportation.”
Rover Parking was founded in Toronto by CEO Tim Wootton, Andrew Holbrook and Grant Brigden in 2014 as a peer-to-peer parking marketplace. The company has since grown to provide services to businesses and commercial facilities across several Canadian cities including Toronto, Calgary and Montreal.
After the closing of the acquisition, expected in the fourth quarter this year, Wootton will become SpotHero’s head of Canada and the Toronto-based staff will run SpotHero’s commercial supply business across the country.
This deal follows a new partnership SpotHero formed with one of Canada’s leading commercial parking operators, Target Park, and a deal with Toronto Pearson Airport. SpoHero in August last year raised $50 million in a Series D funding round.
SpotHero’s mobile apps and website allow users to find, book and access off-street parking in 7,000 locations in 300 cities. Companies also use the SpotHero developer platform to power seamless parking at scale for fleets, connected cars and urban mobility services.
