ParkWhiz announced today that it added an additional $5 million in equity to its recently announced Series D financing, bringing the total funding round led by NewSpring Capital to $25 million.
The additional funding includes investments from strategic investors including Amazon’s Alexa Fund, Alate Partners, Chaifetz Group and Purple Arch Ventures.
The proceeds will be used to further expand the company’s industry-leading Arrive Network – ParkWhiz’s friction-free parking network.
“The Alexa Fund was created to support companies building compelling products and services that leverage voice technology, and ParkWhiz is a fast-growing company that fits that profile perfectly,” said Paul Bernard, director of the Amazon Alexa Fund.
“Customers love using its Alexa skill to find and reserve parking spaces using just their voice, and we’re excited to support them as they pursue deeper integrations with Alexa at home and on the go.”
“We’ve been working closely with Amazon and Alate Partners, and we’re excited to welcome them as strategic investors in ParkWhiz,” said Yona Shtern CEO and Executive Chairman of ParkWhiz.
“It represents an important opportunity for us to work together to further accelerate our growth, expand our inventory footprint to more premium properties in major urban centers across North America and bring a better way to park to millions of consumers through the Arrive Network.”
ParkWhiz has expanded rapidly over the last two years, providing more than 40 million customers with parking reservations and drive-up, friction-free parking experiences in garages and lots in the U.S. and Canada.
It powers transactional parking services for hundreds of distribution partners, including sports teams and venues, events, travel providers, airlines, hotels, automotive OEMs, and navigation systems within their own apps, websites and emails.
The technology can be operated via text, voice command or embedded right into the vehicle.