SpotHero, a leading parking reservation service, has acquired Parking Panda, a leader in event parking reservations in the United States and Canada.
The move positions SpotHero as a category leader across all major off-street parking verticals, including daily, monthly, business, event, and airport parking.
The company is on track to park 20 million cars in 2017 and offering nearly 5,000 parking locations across North America.
Prior to the acquisition, Parking Panda established over 800 strategic partnerships, including event parking partnerships with numerous NHL, NFL, MLB, and NBA teams, as well as major convention centers, sports arenas, theaters, and municipalities. In 2016, the company leveraged this strength in partnerships and event parking to enter the Canadian market, quickly achieving scale.
SpotHero also reports that it “will accelerate its aggressive B2B product roadmap with the integration of Parking Panda’s robust suite of tools and technology, including unique SaaS offerings designed for the parking industry.”
SpotHero’s Co-founder and CEO Mark Lawrence will continue to serve as CEO, and Parking Panda’s leadership team of CEO and Founder Adam Zilberbaum and COO James Bain will remain with the company.
SpotHero has parked more than seven million cars. The company is headquartered in Chicago and has raised $27 million in VC funding.