Investors like SpotHero's plan to stop you from circling for parking. With its on-demand parking service now live in seven cities, the startup just announced a $4.5 million Series A. Mike Gamson, LinkedIn's Chicago-based SVP global solutions, takes a board seat with the round, joining Match.com CEO Sam Yagan and OCA Ventures' Sam Guren.
SpotHero's service connects drivers' mobile devices with parking garage operators who have excess inventory--like an Uber for parking spaces. Its seven markets are New York, Washington, Boston, Baltimore, Newark, Milwaukee and its hometown of Chicago. The startup's last raise was a $2.5 million seed in December, 2012. Since then, it's gone from five employees to 22.
Chicago Ventures, Bullpen Capital, Battery Ventures, OCA Ventures, Pritzker Group Venture Capital, Lightbank, G2T3V, e.ventures, Draper Associates and 500 Startups all joined the Series A round, according to a news release.
Founders Mark Lawrence, Jeremy Smith and Larry Kiss started SpotHero in 2011.
Here's Mark Lawrence explaining what they do:
