SpotHero, a Chicago-based startup that makes an on-demand parking app, launched in Los Angeles Tuesday, marking the start of a larger West Coast expansion.
“This is a big bet we’re making on the West Coast,” said Mark Lawrence ⇒, CEO and founder. “To date we’ve been a really Midwest and East Coast-centric company.”
Car-loving Los Angeles marks the 14th city for five-year-old SpotHero and its second in California. It's partnering with more than 150 locations in the city, including near highly traversed areas like the Staples Center and Los Angeles International Airport.
Up next for SpotHero: Seattle, where the company is running in beta, and San Diego.
Lawrence said New York City and Washington, D.C., are SpotHero’s two markets seeing the greatest amount of growth. That should spread west soon, he believes.
“I expect the growth from the West Coast to really hit in the next quarter, because a lot of the stuff we did over the past few quarters is now hitting really nicely in the East Coast,” he said. “The West Coast is next.”
It launched in San Francisco in December 2014, and recently hired a West Coast general manager based there to head operations from the Pacific Northwest down to Southern California.
Lawrence would not comment on revenue, but said SpotHero receives nearly 250,000 parking reservations each month.
SpotHero received $20 million in Series B funding about a year ago, which has fueled expansion in existing markets and bolstered moves to new ones, Lawrence said. The company now employs 115 people, 104 of whom are in Chicago.