New Delhi: SpotHero, a digital parking solutions provider has raised $50 million in Series D funding, claims the company in a release.
The funding move was led by Macquarie Capital, bringing SpotHero total funding of $118 million till date.
Other investors for the SpotHero include Insight Venture Partners, Global Founders Capital, OCA Ventures, AutoTech Ventures and others.
SpotHero is planning to use this new funding amount to accelerate marketplace growth, expand the digital platform for the parking industry. Also, it aims to strengthen partnerships with leading mobility companies, and deepen technology stack to standardize and optimize access to parking throughout North America, claims the company in a release.
SpotHero aims to be a significant player in the off-street parking industry, which worths around $20 billion. The company offers both hardware and software solutions aimed at the drivers, parking operators and property owners along with mobility partners.
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