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ParkWhiz Secures $2 Million Funding Round

ParkWhiz, the Chicago company that enables users to find and reserve guaranteed parking spaces before reaching their destination, has closed a $2 million Series A round of funding, led by Hyde Park Venture Partners. Also participating in the investment were Hyde Park Angels, Amicus Capital, Alexis Ohanian, Garry Tan, Henry J. Feinberg and Amreesh Modi.

The strategic round allows the company to significantly expand its team and to further accelerate its rapid revenue growth and expansion into even more markets, said Aashish Dalal, CEO and Co-Founder.

ParkWhiz has experienced tremendous success since emerging in 2006 and pioneering the eParking category: Driving more than $10 million in parking revenue to operators since launch. Access to more than 3 million parking spaces nationwide. Official partnerships with StubHub and TicketsNow, NFL and NCAA teams, and sports and entertainment venues.

More than 1 million people have used ParkWhiz.com, the largest, fastest-growing, online parking reservation company in the U.S.. It allows users to compare price, location and amenities. The company works with more than 2,000 parking lots nationwide, giving customers access to more than 3 million parking spaces.

Joining Dalal on the company’s board will be Ira Weiss of Hyde Park Venture Partners and Henry J. Feinberg, Chairman of Maxim Revenue Management Solutions.

“ParkWhiz offers a transformational service for finding optimal automobile parking,” Feinberg said. “ParkWhiz will change how consumers and parking lot owners and operators do business.”

Dalal said: “The wealth of knowledge and experience of our new board members will help us aggressively deliver unique capabilities to our customers and further solidify our position as the market leader.”

[Source: ParkWhiz]



 

Article Abstract from February, 2013




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