SpotHero

SpotHero

Mobile app for booking parking spots

About SpotHero

Simplify's Rating
Why SpotHero is rated
A-
Rated C on Competitive Edge
Rated A+ on Growth Potential
Rated A on Rating Differentiation

Industries

Automotive & Transportation

Consumer Software

Company Size

201-500

Company Stage

Series D

Total Funding

$117.6M

Headquarters

Chicago, Illinois

Founded

2011

Overview

SpotHero simplifies the parking experience for drivers in the United States by providing a platform to find, compare, and book parking spots in advance. Users can access this service through a mobile app and website, which feature a variety of parking options, including hourly, monthly, and long-term airport parking. SpotHero partners with parking facilities to offer a wide range of choices and includes touchless payment options for added convenience and safety. The company operates on a commission-based model, earning revenue only when a booking is completed, which aligns its interests with those of users and parking partners. SpotHero's goal is to make parking easier and more efficient, addressing common challenges faced by urban drivers.

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Simplify's Take

What believers are saying

  • SpotHero's partnership with Jawnt offers tax-saving commuter benefits for users.
  • Integration with EV charging networks can attract environmentally conscious customers.
  • Dynamic pricing models optimize revenue and improve user satisfaction.

What critics are saying

  • Increased competition from apps like ParkMobile and ParkWhiz threatens market share.
  • Ride-sharing services reduce the need for personal vehicle parking, impacting user base.
  • Remote work trends may decrease demand for daily commuter parking solutions.

What makes SpotHero unique

  • SpotHero is the only independent consumer marketplace for parking in North America.
  • The platform offers touchless payment options, enhancing safety and convenience for users.
  • SpotHero partners with major platforms like Google Maps and Lyft for seamless integration.

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Funding

Total Funding

$117.6M

Below

Industry Average

Funded Over

6 Rounds

Series D funding is typically for companies that are already well-established but need more funding to continue their growth. This round is often used to stabilize the company or prepare for an IPO.
Series D Funding Comparison
Below Average

Industry standards

$77M
$50M
SpotHero
$70M
Twilio
$80M
Handshake
$100M
Affirm

Benefits

Health Insurance

Dental Insurance

Vision Insurance

Life Insurance

401(k) Company Match

Unlimited Paid Time Off

Professional Development Budget

Flexible Work Hours

Growth & Insights and Company News

Headcount

6 month growth

0%

1 year growth

1%

2 year growth

0%
Yahoo
Mar 18th, 2025
PPA partners with SpotHero to help drivers reserve parking spots at Philly garages

PHILADELPHIA - The Philadelphia Parking Authority (PPA) is now partnering with SpotHero to offer advanced booking for parking at six city-owned garages through the digital parking reservation platform.

SpotHero
Mar 11th, 2025
SpotHero Now Integrates with ParkChirp's Platform

SpotHero now integrates with ParkChirp's platform.

GeekWire
Feb 20th, 2025
Tech-Enabled Med Spa Startup Pinch Expands To Seattle With Its In-Home Cosmetic Procedures

GeekWire’s startup coverage documents the Pacific Northwest entrepreneurial scene. Sign up for our weekly startup newsletter , and check out the GeekWire funding tracker and venture capital directory .Pinch offers in-home medical-grade concierge aesthetics services such as tox, chemical peels and microneedling. (Pinch Photo)Pinch, a Chicago-based, tech-enabled service that facilitates in-home medical spa treatments, has expanded to the Seattle area, the company announced Thursday.The 2-year-old venture-backed startup, which raised $3.5 million in seed funding last year, offers concierge aesthetics services such as tox (commonly referred to by the brand name Botox), chemical peels and microneedling. Board-certified nurse practitioners treat clients to the noninvasive cosmetic procedures in their own homes.Co-founder and CEO Elan Mosbacher told GeekWire that Pinch was attracted to Seattle as its first expansion market because of the city’s strong tech presence and medical community, and what he called an underserved client population.Pinch CEO Elan Mosbacher. (Pinch Photo)“We’re growing fast, earning incredible feedback, and seeing early momentum in the Seattle metro area,” Mosbacher said.Nurse practitioners are contractors with Pinch, which provides insurance, training, tech, equipment, and marketing with no upfront or ongoing costs. About 30 such professionals have been hired so far, and the service will be available to all of Washington state as it grows.“Pinch is really all about empowering healthcare entrepreneurs and giving them the ability to launch their own career and build their own thing,” Mosbacher said.Customers are typically people who are squeezing an appointment in while busy at home, those who want to host a beauty-style event, or others who are seeking a level of discretion for such treatments.Pinch’s technology enables clients to book appointments in their homes, host a “Pinch Party” with friends, or join pop-ups with local wellness brands

PR Newswire
Jan 29th, 2025
Spothero, Jawnt Partner To Make Car Commutes More Sustainable

Jawnt members can now reserve parking on the SpotHero mobile app using pre-tax dollars stored on their Jawnt Pass. CHICAGO, Jan. 29, 2025 /PRNewswire/ -- SpotHero, North America's leading parking reservation platform, today announced a partnership with Jawnt, a unified transportation technology company that offers comprehensive commuter benefits. Through this partnership, Jawnt members can now book and pay for parking on the SpotHero mobile app using pre-tax dollars stored on their Jawnt Pass commuter debit card. This partnership marks SpotHero's continued commitment to providing commuters with a convenient parking experience that doesn't break the bank. It also supports a renewed interest among employers to have flexible parking solutions to support in-office, remote, and hybrid work environments

The Industrial
Jan 14th, 2025
SpotHero Promotes Nate Phillips to Chief Revenue Operations

SpotHero promotes Nate Phillips to Chief Revenue Operations.

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