Luxe is an on-demand parking service that is expanding to several cities across the country in the middle of 2015 starting with Boston, Chicago, and Seattle this quarter. Luxe’s mobile app connects drivers with trained and pre-screened valets.
To help fuel the expansion, Luxe has raised $20 million in Series A funding from Venrock and Redpoint Ventures. Brian Ascher of Venrock and Ryan Sarver of Redpoint Ventures will join Luxe’s Board of Directors. Luxe also unveiled the release of an Android app in the same announcement. One of the key hires that Luxe made recently is Ro Choy as its Chief Business Officer, who is the former Chief Operating Officer of BitTorrent.
“Parking in the core of most cities is a nightmare and apps that list garage locations, parking prices, or handle payments have not solved the problem,” said Ascher. “Luxe’s service-oriented solution turns a headache we all routinely encounter into an awesome experience. It’s an operationally complex business but the Luxe team blew us away with their vision and focus on execution.”
Luxe saw rapid growth in San Francisco and Los Angeles, especially in the last six months. And Luxe also saw the average customer parking with Luxe hit two times per week. Month-over-month, the company also saw a 90% growth in customers and 97% growth in transactions.
“Luxe’s success proves out the importance of delivering a service that consistently delights people. Luxe has created new daily habits for a wide set of consumers which is when the magic of network effects starts to kick in. We’re proud to have backed the Luxe’s team from its early days as they have scaled their technical and operational functions to meet demand,” added Sarver.
