SpotHero’s $50 Million Series D Financing

Fenwick & West represented SpotHero in the transaction.

SpotHero is the digital parking leader and the largest place 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 7,000 locations across 300 cities. Leading mobility companies use the SpotHero developer platform to power seamless parking at scale for fleets, connected cars, and urban mobility solutions.

SpotHero raised $50 million in Series D funding, bringing its total funding to date to $118 million.

Macquarie Capital led the round. Union Grove Venture Partners participated in the round, along with existing investors including Insight Venture Partners, Global Founders Capital, OCA Ventures, AutoTech Ventures and others.

The new capital will be used to accelerate marketplace growth, expand the digital platform for the parking industry, strengthen partnerships with leading mobility companies, and deepen SpotHero’s technology stack to standardize and optimize access to parking throughout North America.

Fenwick represented SpotHero with a team led by corporate partners Andrew Albertson (Picture) and associates Katherine Duncan, Isabel da Roza and Michael Ohta.

Involved fees earner: Andrew Albertson – Fenwick & West LLP; Isabel da Roza – Fenwick & West LLP; Katherine Duncan – Fenwick & West LLP; Michael Ohta – Fenwick & West LLP;

Law Firms: Fenwick & West LLP;

Clients: SpotHero;

Author: Ambrogio Visconti