SpotHero
Financials
Estimates*
USD | 2018 | 2019 | 2020 | 2021 |
---|---|---|---|---|
Revenues | 46.5m | 47.5m | 47.5m | 45.0m |
% growth | - | 2 % | - | (5 %) |
Date | Investors | Amount | Round |
---|---|---|---|
- | N/A | - | |
$500k | Seed | ||
$2.5m | Early VC | ||
$4.5m | Series A | ||
$20.0m | Series B | ||
* | $30.0m | Series C | |
* | $10.1m | Series C | |
$50.0m | Series D | ||
Total Funding | $118m |
Recent News about SpotHero
EditSpotHero is a technology-driven company that simplifies the parking experience for drivers across the United States. The company operates in the urban mobility market, focusing on providing convenient and cost-effective parking solutions. SpotHero serves a diverse clientele, including daily commuters, event-goers, and travelers needing long-term airport parking.
The core of SpotHero's business model is its mobile app and website, which allow users to find, compare, and book parking spots in advance. By partnering with parking facilities, garages, and lots, SpotHero offers a wide range of parking options, from hourly to monthly parking. The platform also features touchless payment options, which have become increasingly important in response to the COVID-19 pandemic. This touchless feature allows users to enter and exit parking facilities without the need to touch buttons or tickets, enhancing safety and convenience.
SpotHero generates revenue through a commission-based model. When a user books a parking spot through the app or website, SpotHero takes a percentage of the booking fee. This model aligns the company's interests with those of its users and parking partners, as SpotHero only makes money when a booking is successfully completed.
The company has also expanded its services to include multi-day airport parking, catering to travelers who need secure and affordable parking options near major airports. Additionally, SpotHero offers monthly parking subscriptions, providing a hassle-free solution for individuals who need regular parking in busy urban areas.
In summary, SpotHero leverages technology to make parking easier and more efficient for its users. By offering a wide range of parking options, touchless payment features, and a user-friendly platform, SpotHero addresses the common pain points associated with urban parking.
Keywords: parking, mobile app, touchless payment, urban mobility, airport parking, monthly parking, booking platform, cost-effective, user-friendly, commission-based.