SpotHero has its foot on the gas, and it’s not slowing down.
The Chicago-based on-demand parking startup announced Tuesday that it has raised $30 million in new funding, bringing the company’s total venture capital to date to $57.5 million.
SpotHero said it will uses the Series C funding to expand into more markets in the United States and Canada, grow its B2B offerings, and invest in new technology to make its app work with autonomous vehicles. It also plans to roll out other new features like mobile payment and operations apps for parking management companies.
“We continue to see unprecedented growth, hire extremely talented individuals and have an exponentially expanding, loyal customer base who love the value we add in their daily lives,” Mark Lawrence, CEO of SpotHero, said in a statement.
Investors in the round include Insight Venture Partners, Global Founders Capital, OCA Ventures, Chicago Ventures, Levy Family Partners, Bullpen Capital, Pritzker Group Venture Capital, Draper Associates, Sam Yagan, Corazon Capital, Daniel Hoffer and Math Venture Partners.
SpotHero, founded in 2011, connects drivers to parking decks and other off-street parking. The company said revenue grew 100 percent year-over-year in 2016.
In April, SpotHero acquired competitor Parking Panda in a deal that beefed up its presence on the East Coast and Canada. Parking Panda also helped expand SpotHero’s B2B operations, as it has deals with several pro sports teams and other venues to offer on-demand parking.
Parking Panda was SpotHero’s second acquisition in two years; it bought San Francisco’s ParkPlease in 2015.
One of SpotHero’s remaining competitors is Chicago-based ParkWhiz, which has raised $36 million since it launched in 2006.
“The future of urban transportation is so exciting because of such rapid changes – from self-driving cars, to instant, cashless payments, to making cities greener by decreasing carbon footprints,” Ludwig Ensthaler, partner at GFC, added in the statement. “There’s no doubt that SpotHero is at the forefront of the evolution of parking, leading the industry with its people, marketplace, products and services.”
Read more at: https://www.americaninno.com/chicago/
Levyx Inc., whose high-performance, ultra-low latency data processing software dramatically reduces Big Data infrastructure costs, revealed today record shattering independent testing results performed by the Securities Technology Analysis Center (STAC®) using the STAC-A3 benchmarking suite.
Levyx broke the performance record running the benchmark on four 64-vCPU Google Cloud nodes equipped with SSDs while running Apache Spark and Levyx’s Xenon software. The net result was 32X the performance employing much less equipment in comparison to the baseline STAC-A3 benchmark which used a 14-node (24 cores each) disk-based Map-Reduce Hadoop cluster.
STAC-A3 is the industry’s primary performance benchmark suite for the infrastructure that banks, hedge funds and other trading firms use to backtest potential trading algorithms. Peter Lankford, Director of STAC, said: “Trading firms in the STAC Benchmark Council specified the STAC-A3 benchmarks in order to measure the potential of software and hardware innovations to accelerate backtesting. The competitive pressure on firms to bring smarter algorithms to market in less time, together with the increasing use of machine learning to automate development of candidate algorithms, has put backtesting on the critical path to revenue. Levyx’s use of STAC-A3 shows that the company is putting serious focus on the industry’s desire to speed up this key workload.”
Reza Sadri, CEO of Levyx, said: “Since the financial sector typically pushes the envelope for low-latency technologies, our results for this class of sophisticated backtesting validate our performance benefits in a real-world application and point to an exciting market opportunity within the financial space. Similarly, these performance benefits can also accelerate the Time-To-Value in other large markets, such as analyzing trends in insurance, credit scores and consumer sentiment, to name a few. In addition, the STAC results highlight that we drastically reduce the data center footprint and related costs (in the cloud or on-premise).”
Levyx’s Xenon™ leverages the high-performance nature of Levyx’s Helium™ core engine and extends it into a low latency, scalable data analytics solution. Xenon is designed to manage the retrieval, processing, and indexing of very large datasets, i.e., collections of billions of objects, spread across a tightly coupled cluster of servers, each with multi-terabyte persistent storage capabilities. More specifically, Xenon is a distributed database system having the following functional capabilities:
- Core SQL functionality: filter, projection, selection, sort, join, groupby, and aggregates on structured data, i.e., schema-based tables.
- Support for random lookup and neighborhood search using an index rather than scan and filter.
- Tightly integrate with the Apache Spark system for ease of deployment and use (also fully capable to function in native mode, or serve as an off-load layer for other big-platforms and systems).
- Scale with the number of cores in the cluster and use SSDs (or other high-bandwidth, low latency persistent storage) as a persistent memory layer for large, live datasets.
The efficiency with which Xenon can process massive workloads can also be applied in the processing of similar large-scale data sets in other applications within the financial sector, as well as in different vertical industries such as Government, Internet of Things (IoT), Oil and Gas, Machine Learning, Artificial Intelligence, and Cybersecurity.
About Levyx Inc.
Levyx’s software solutions fundamentally disrupt the economics of Big-Data applications, bringing the benefits of high-speed Big-Data processing to the masses. No longer reserved for the largest enterprises, Levyx technology can process hundreds of millions of queries per second on commodity servers on a few nodes, making Big-Data processing much more accessible to organizations of all sizes. More information is available at www.levyx.com.
STAC® is a technology-research firm that facilitates the STAC Benchmark™ Council (www.STACresearch.com/council), an organization of leading financial institutions and technology vendors that specifies standard ways to assess technologies used in the financial markets. The Council is active in an expanding range of low-latency, big-compute, and Big-Data workloads.
The STAC-A3 benchmark report may be downloaded for free by going to:
Levyx, the Levyx logo, Helium, and Xenon are trademarks of Levyx Inc. STAC and all STAC names are trademarks or registered trademarks of the Securities Technology Analysis Center, LLC. All other trademarks or brand names referred in this press release are the property of their respective owners.
Regroup Therapy has had a whirlwind of a year.
The Chicago-based startup, which uses video technology to deliver mental health services to underserved areas, announced on Thursday that it has raised a $6 million Series A round of funding led by OSF Ventures.
Regroup Therapy, which raised a $1.8 million seed round last spring, has seen its annual recurring revenues grow by nearly 4,000 percent over the past year.
“We were aiming for half a million dollars annual revenues last year, but we’re on track to book more than $4 million,” said founder and CEO David Cohn. “Our seed funding allowed us to invest in more people. When we got away from trying to do three or four times more than is humanly possible, we discovered that our processes were actually really good — we just needed more people out there.”
Read more (via Built In Chicago) at: http://www.builtinchicago.org/2017/06/15/regroup-therapy-raises-6m
Regroup Therapy lands $6M to give mental health care over video chat
Chicago-based Regroup Therapy, which lets mental health professionals virtually meet with patients at a variety of institutions, has raised more than $6 million in Series A funding, it announced Thursday.
It has been a period of notable growth for Regroup, which was founded in 2011 and bootstrapped until last year.
Revenue at the telehealth company is up significantly since it raised its $1.8 million seed round in April 2016, said CEO and founder David Cohn. It currently has more than $4.5 million in annual revenue under contract, whereas early last year its annualized revenue was about $100,000, he said.
“(We) have a health care system that is increasingly incentivized to provide better care earlier for patients,” Cohn said. “You can’t do that without providing high-quality mental-health care earlier.”
Investment follows 300% Annual Growth as institutional investors embrace multi-asset class portfolio management and reporting solution
DALLAS, May 9, 2017 /PRNewswire/ — Solovis, a multi-asset class portfolio management, analytics and reporting platform for limited partners and asset allocators, today announced it has raised $8 million in a Series A round. The funding was led by Edison Partners, a leading growth equity capital firm based in Princeton, NJ. Previous investors MissionOG, OCA Ventures, Timberline Ventures, Northwestern University, and Backstop Solutions co-founder Jeremie Bacon also participated. Joining the consortium this round is Cultivation Ventures, a venture capital firm specializing in technology and life sciences, with several partners who have worked in investment management technology.
“During the last year, Solovis has experienced 300 percent growth with top-tier endowments, foundations, and family offices adopting its platform, helping to establish the company as the emerging industry standard for multi-asset class managers,” says Tom Vander Schaaff, General Partner, who led the investment for Edison. “We are impressed by Solovis’ rapid growth, deep roster of marquee customers, and its market leadership position. The financing will allow Solovis to continue to expand its solutions and magnify its significant impact on the industry,” he added.
Read more (via PR Newswire) at: http://www.prnewswire.com/news-releases/solovis-raises-8-million-to-accelerate-growth-300454291.html?tc=eml_cleartime
Lucas Roh is taking a big step with his newest startup, coming out of stealth mode.
Roh’s new company, Bigstep, launched four years ago in London, is looking to make it easier for companies to tackle big data projects using the cloud. He’s betting that he can help companies make the leap by offering them better security and ease of use than Amazon, Microsoft and Google.
Bigstep is launching its product in the United States, opening a data center and office in Chicago, where Roh is based.
- Google’s Android Assistant to Partner with SpotHero through Android Auto January 10, 2018
- SwipeSense raises $10.6M for Internet of Things push December 7, 2017
- Solovis Strengthens Analytics Capabilities with Acquisition of Madrone Software December 5, 2017
- Progentec Diagnostics Raises $1.25M to Predict Lupus Flare-ups November 27, 2017