ParkWhiz Secures $2M Funding to Revolutionize Parking Reservations
The OpenTable of Parking Spots Expands Its Reach
Chicago-based startup ParkWhiz has successfully raised $2 million in Series A funding, signaling strong investor confidence in its innovative approach to parking solutions. The funding round was led by Hyde Park Venture Partners, with participation from Hyde Park Angels, Amicus Capital, and notable angel investors including Alexis Ohanian, Garry Tan, Henry J. Feinberg, and Amreesh Modi.
How ParkWhiz Works
ParkWhiz applies the OpenTable model to parking, offering users the ability to:
- Reserve parking spots in real-time via web and mobile apps
- Compare prices, locations, and amenities across thousands of lots
- Access over 3 million parking spaces nationwide
The platform partners with parking providers ranging from individual space owners to large parking management companies, creating a comprehensive marketplace for parking reservations.
Market Traction and Strategic Partnerships
ParkWhiz has demonstrated impressive growth:
- Works with 2,000+ parking lots across the U.S.
- Served over 1 million customers to date
- Established official partnerships with:
- StubHub and TicketsNow
- NFL and NCAA teams
- Major sports and entertainment venues
These partnerships position ParkWhiz as the go-to parking solution for event attendees, from concerts to major sporting events.
Competitive Landscape
While ParkWhiz leads in parking reservations, it faces competition from:
However, ParkWhiz’s extensive network and strategic partnerships give it a significant advantage in the growing parking technology market.
The Future of Smart Parking
This $2 million funding injection will likely accelerate ParkWhiz’s expansion, potentially transforming how drivers find and reserve parking in urban areas. As cities become more congested, solutions like ParkWhiz that optimize parking inventory will become increasingly valuable to both drivers and parking operators alike.
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