SpotHero
A digital marketplace for reserving and paying for parking.
Last updated August 22, 2026
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Overview
SpotHero is a Chicago-based parking technology company that operates an online marketplace for finding, reserving, and paying for parking. Through its website and mobile applications, the company connects drivers with parking garages, surface lots, and valet operators, allowing customers to arrange parking in advance rather than searching for an available space after reaching a destination. Its marketplace serves cities and transport-related locations across the United States and Canada. The company was founded in Chicago in 2011 by Mark Lawrence and Jeremy Smith, with Larry Kiss joining soon afterward. SpotHero initially pursued a peer-to-peer model in which individuals could offer privately owned parking spaces to other drivers. It later shifted toward a broader business model based on partnerships with professional parking operators, garages, lots, and valet services. This transition enabled the company to aggregate a larger and more reliable supply of parking inventory while retaining a consumer-facing marketplace. SpotHero began with service in Chicago and Milwaukee and expanded rapidly during the 2010s. Its market footprint grew to include major metropolitan areas such as New York, Washington, D.C., Boston, Baltimore, Newark, Denver, Minneapolis, New Orleans, Philadelphia, San Francisco, Los Angeles, Austin, Indianapolis, Miami, and San Diego. By November 2020, the company reported operating in more than 400 North American cities and working with a network of more than 11,000 parking facilities. The current Wikipedia description characterizes the marketplace as available in more than 300 cities in the United States and Canada. The company has developed beyond one-time consumer reservations. SpotHero for Business, introduced in 2017, provides tools for employers and organizations to manage, organize, and pay for parking expenses. SpotHero also created a developer platform intended to let other businesses embed parking reservations into their own digital products. Partnerships with WageWorks, Moovit, and Waze extended the service into employee benefits, public-transit planning, navigation, and location-based travel workflows. SpotHero has expanded through acquisitions as well as organic growth. It purchased San Francisco peer-to-peer parking marketplace ParkPlease in 2015, acquired Baltimore-based Parking Panda in 2017, and acquired Toronto-based Rover Parking in 2020. These transactions increased its geographic coverage, operator relationships, and presence in Canada. In 2023, the company introduced Flex Rates, a dynamic-pricing product that gives parking operators tools to adjust prices using real-time market information. SpotHero remains a private company and is not publicly traded. In February 2026, Uber announced an agreement to acquire SpotHero. The transaction terms were not disclosed, and the announcement stated that closing was expected later in 2026. Uber said it planned to use SpotHero technology to provide parking reservations inside the Uber application, including for destinations such as airports and event venues. Until closing is confirmed, SpotHero is best described as an active independent company subject to a pending acquisition rather than as an established Uber subsidiary.
History
SpotHero was established in Chicago in 2011 by Mark Lawrence and Jeremy Smith, with Larry Kiss joining the company soon afterward. Its original concept was a peer-to-peer marketplace for private parking: individuals with unused driveways or parking spaces could make them available to drivers. The company subsequently moved toward partnerships with professional parking operators, garages, lots, and valet providers, creating a larger marketplace with more standardized inventory and reservation processes. The business initially operated in Chicago and Milwaukee. In December 2012, it raised early venture financing from a group led by Battery Ventures. During the period from 2011 to 2013, the company expanded from five employees to 22 and opened a New York office. Its service reached seven markets, including Chicago, New York, Washington, D.C., Boston, Baltimore, Newark, and Milwaukee. Further financing in 2014 and 2015 supported geographic expansion and the development of its parking marketplace. A Series C round followed in 2017, and later financing brought total disclosed funding to a substantially higher level by 2019. SpotHero's geographic growth continued through the middle and late 2010s. By 2015 it had added Denver, Minneapolis, New Orleans, Philadelphia, and San Francisco. Los Angeles was added in 2016, followed by a group of additional cities in 2017, including Austin, Indianapolis, Miami, and San Diego. The company also expanded its supply and capabilities through acquisitions. ParkPlease, a San Francisco peer-to-peer parking marketplace, was acquired in 2015. In 2017, SpotHero purchased Parking Panda, a Baltimore-based parking and event-parking service. That transaction expanded the company's presence in Canada and increased the number of locations available through its platform. In 2020, SpotHero acquired Toronto-based Rover Parking. The company broadened its business beyond individual reservations in 2017. SpotHero for Business was designed to help organizations pay for, administer, and organize employee or corporate parking. A developer platform allowed external companies to incorporate parking reservations into their own applications. The WageWorks partnership connected the service with commuter benefits and enabled qualifying users to apply pre-tax funds to daily parking. Partnerships with Moovit and Waze later connected parking reservations with transit planning and turn-by-turn navigation. By November 2020, SpotHero reported a network of more than 11,000 facilities across over 400 North American cities. The Wikipedia article's current description refers to availability in more than 300 cities in the United States and Canada, reflecting that marketplace coverage can vary by measurement date and definition. In 2023, SpotHero introduced Flex Rates, a product intended for parking operators that uses real-time information to support adjustable pricing. SpotHero has remained privately held rather than becoming a public company. In February 2026, Uber announced an agreement to acquire the company. The terms were not disclosed, and the announcement indicated that the transaction was expected to close later in 2026. Uber described a planned parking-reservation experience powered by SpotHero, allowing Uber users to find and reserve parking for locations such as airports and venues. The announcement represents a proposed change in ownership; absent confirmation of closing, SpotHero should not yet be treated as a completed Uber acquisition.
- 2026
Uber announces proposed acquisition
[1]Uber announced an agreement to acquire SpotHero, with closing expected later in the year and terms undisclosed.
- 2023
Flex Rates launches
[1]SpotHero introduced customizable dynamic pricing for parking operators.
- 2020
Rover Parking acquisition
[1]SpotHero acquired Toronto-based Rover Parking and reported a network exceeding 11,000 facilities across more than 400 North American cities.
- 2019
Series D financing and navigation partnerships
[1]SpotHero announced $50 million in Series D financing and entered partnerships with Moovit and Waze.
- 2018
Named to Time's Genius Companies list
[1]Time included SpotHero in its inaugural list of 50 Genius Companies.
- 2017
Business services and Parking Panda acquisition
[1]SpotHero launched SpotHero for Business and acquired Parking Panda, expanding into Canada and event parking.
- 2017
Series C financing
[1]The company raised $30 million in Series C financing.
- 2016
Expansion into Los Angeles
[1]SpotHero expanded its marketplace to Los Angeles.
- 2015
Series B financing and ParkPlease acquisition
[1]SpotHero raised a $20 million Series B round and acquired San Francisco-based ParkPlease.
- 2014
Additional financing and board expansion
[1]The company raised an additional $4.5 million and announced new board members, including Mike Gamson, Sam Yagan, and Sam Guren.
Products and positioning
A technology intermediary that makes urban, event, airport, and transit-adjacent parking easier to discover, compare, reserve, and pay for in advance.
Consumer parking reservation platform · 2011
SpotHero marketplace
SpotHero's principal consumer service lets drivers search for available parking at garages, lots, and valet locations, compare options, reserve a space, and pay through the website or mobile applications. It is designed for daily parking, event parking, airport trips, and other planned journeys where advance confirmation is useful.
Business parking management · 2017
SpotHero for Business
SpotHero for Business provides organizations with tools for managing parking-related payments and expenses. The offering extends SpotHero from an individual reservation service into a workplace and corporate mobility product, supporting the administration and organization of parking for employees or business users.
Parking technology integration · 2017
Developer platform
SpotHero's developer platform is intended to let third-party businesses incorporate parking discovery and reservation capabilities into their own applications. It supports the company's strategy of making parking inventory available through navigation, transit, mobility, and other digital experiences rather than only through SpotHero-owned interfaces.
Dynamic pricing software · 2023
Flex Rates
Flex Rates is a product for parking operators that enables customizable pricing adjustments based on real-time information. It is intended to help garages and lots respond to changes in demand and manage prices more flexibly than a fixed-rate model.
Brand decisions
2026
Proposed acquisition by UberM&ABackground
Uber announced an agreement to acquire SpotHero as part of a plan to offer parking reservations within its broader mobility application.
Action taken
Uber agreed to acquire SpotHero, with the transaction expected to close later in 2026; financial terms were not disclosed.
Aftermath
Uber said SpotHero would power parking reservations for destinations such as airports and venues. Completion of the transaction remains subject to closing and should not be assumed from the announcement alone.
2023
Introduction of operator-controlled dynamic pricingPrice changeBackground
Parking demand and prices vary by location, time, events, and other real-time conditions.
Action taken
SpotHero launched Flex Rates, allowing parking operators to adjust prices using real-time data.
Aftermath
The product gave operators more flexible pricing tools and extended SpotHero's role from reservation distribution into parking-operations software.
2017
Expansion into business and embedded parking servicesStrategyBackground
Consumer reservations alone did not address corporate parking administration or the opportunity to distribute parking through other mobility applications.
Action taken
SpotHero launched SpotHero for Business and a developer platform, and partnered with WageWorks to connect parking with commuter benefits.
Aftermath
The company expanded into business expense management, employee benefits, and third-party application integrations.
2011
Shift from peer-to-peer parking toward professional operator partnershipsStrategyBackground
SpotHero began as a marketplace for individuals renting out private parking spaces. As the service expanded, it broadened its supply model to include parking companies, garages, lots, and valet operators.
Action taken
The company developed a two-sided marketplace centered increasingly on professional parking inventory and advance reservations.
Aftermath
The broader operator network supported expansion into many metropolitan markets and helped establish SpotHero as a parking-reservation platform rather than only a peer-to-peer space-rental service.
Recent events
- 2026
Uber announces agreement to acquire SpotHero[1]
M&A
Uber announced that it had agreed to acquire SpotHero. Deal terms were not disclosed, and closing was expected later in 2026. Uber said SpotHero would power parking reservations for destinations including airports and venues through the Uber app.
- 2023
SpotHero introduces Flex Rates[1]
Product launch · Pricing
SpotHero launched Flex Rates, a customizable dynamic-pricing product that allows parking operators to modify prices using real-time data.
- 2020
SpotHero acquires Rover Parking[1]
M&A
The company acquired Toronto-based parking application Rover Parking, expanding its Canadian presence and technology footprint.
- 2019
SpotHero partners with Moovit[1]
Other
SpotHero and transit application Moovit partnered to show and book off-street parking near transit stations in San Francisco.
- 2019
SpotHero integrates parking with Waze[1]
Other
SpotHero partnered with Waze to connect navigation and parking discovery, bringing parking reservations into a more unified driving experience.
- 2018
SpotHero recognized by Time[1]
Other
SpotHero was included in Time magazine's inaugural list of 50 Genius Companies, which highlighted companies associated with technological and business innovation.
- 2017
SpotHero launches SpotHero for Business[1]
Product launch
The company introduced a business-oriented service for managing and organizing parking expenses, alongside a developer platform for integrating parking reservations into other applications.
- 2017
SpotHero acquires Parking Panda[1]
M&A
SpotHero acquired Baltimore-based Parking Panda, expanding its event-parking capabilities and entering Canada through Parking Panda's operations and inventory.
- 2017
SpotHero partners with WageWorks[1]
Other
A partnership with commuter-benefits administrator WageWorks enabled users to use pre-tax funds for eligible daily parking near their workplaces.
- 2015
SpotHero acquires ParkPlease[1]
M&A
SpotHero acquired San Francisco-based peer-to-peer parking marketplace ParkPlease, strengthening its marketplace capabilities and geographic reach.
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