SpotHero, a Chicago, IL-based digital parking leader in North America, is to acquire Rover Parking, a consumer parking app in Canada.
The amount of the deal – expected to close in the fourth quarter of 2020 – was not disclosed.
This acquisition accelerates SpotHero’s market leadership position in North America, gaining access to thousands of parking locations across Canada.
Founded in Toronto by CEO Tim Wootton, Andrew Holbrook and Grant Brigden in 2014 as a peer-to-peer parking marketplace, Rover Parking has since grown into servicing B2B and commercial facilities across several cities including Toronto, Calgary and Montreal.
After the closing of the acquisition, Tim Wootton will become Head of Canada and the Toronto-based team will run SpotHero’s commercial supply business across the country.
Led by Founder & CEO Mark Lawrence, SpotHero is a digital parking company for people and companies to buy and sell parking in North America. Millions of drivers use SpotHero’s mobile apps and website to find, book and access off-street parking in over 7,000 locations across 300 cities. Mobility companies use the developer platform to power parking at scale for fleets, connected cars and urban mobility solutions.
This announcement follows a new SpotHero partnership with one of Canada’s leading commercial parking operators Target Park, a partnership with Toronto Pearson Airport and a $50m Series D fundraising round in August 2019.
FinSMEs
10/09/2020