Luxe, a provider of on-demand valet parking and car services, has secured Series B financing of $50 million from lead investor Hertz Global Holdings. Existing investors include Redpoint Ventures and Venrock.
As part of this funding round, John P. Tague — Hertz Global Holdings president and CEO — and a member of Hertz’s Board of Directors will join Luxe’s Board of Directors, according to the company.
"Our investment will support Luxe's ability to scale its successful service to other major urban centers, while offering our customers enhanced convenience and value with regard to their urban parking needs," said Tague. "Building on an expanded Luxe footprint and capability, we will partner together to develop new innovative and integrated services that will enhance the relevancy of our core products in urban markets."
By investing in its valet, operations, product and engineering teams, Luxe will continue to introduce new services that complement its current parking and car services, according to the company.
"Our mission has always been to make car ownership as painless and easy as possible," said Curtis Lee, CEO and co-founder of Luxe. "I couldn't be prouder of what our team has accomplished, and now with Hertz, as a partner, we are looking to make using a rented car just as seamless."
By offering an app and on-demand valets for parking and car services, Luxe has grown 30% month-over-month since it started in October 2014, says the company. Currently, Luxe operates in six major U.S. cities: San Francisco, Los Angeles, Seattle, Austin, Chicago, and New York.
In addition to offering on-demand valet parking, Luxe offers car services (car wash, gas refill, and oil change), the option for overnight parking, and its designated driver serviceDrive Home. The company also offers Luxe for Events (parking for special occasions), Luxe for Partners (customer parking for businesses and merchants), and Luxe for Business (parking for employees).
For more information, visit www.luxe.com.
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