ESTERO, Fla., April 7, 2016 /PRNewswire/ -- Hertz Global Holdings, Inc. (NYSE: HTZ) was the lead investor in a recently concluded Series B round of funding for San Francisco-based Luxe, a provider of on-demand valet parking and car services operating in San Francisco, Los Angeles, New York, Chicago, Boston, Seattle and Austin.
"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 John Tague, Hertz Global Holdings president and chief executive officer. "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."
Related to the funding, Tague will become a member of Luxe's board.
"We set out to invent and lead a new category of on-demand services, making car ownership issues a thing of the past, and helping to redefine the city of tomorrow. I couldn't be prouder of what our team has already accomplished and with this new support and milestone, we are thrilled to continue to deliver on our mission," said Curtis Lee, CEO, and Co-Founder, Luxe.
By offering an easy-to-use app and on-demand valets, Luxe has grown 30 percent month-over-month since its inception in October 2014 and has seen 18x annual growth. Luxe has hundreds of thousands of downloads with operations in six major U.S. cities. The on-demand app service is used on average 2x a week by thousands of consumers daily, on both a pay-per-use and monthly subscription basis.
About Hertz Global
Hertz Global Holdings operates the Hertz, Dollar, Thrifty and Firefly car rental brands in approximately 9,980 corporate and licensee locations throughout approximately 150 countries in North America, Europe, Latin America, Asia, Australia, Africa, the Middle East and New Zealand. Hertz Global Holdings is the largest worldwide airport general use car rental company with approximately 1,635 airport locations in the U.S. and more than 1,320 airport locations internationally. Product and service initiatives such as Hertz Gold Plus Rewards, NeverLost®, Carfirmations, Mobile Wi-Fi and unique vehicles offered through the Adrenaline, Dream, Green and Prestige Collections set Hertz Global Holdings apart from the competition. Additionally, Hertz Global Holdings owns the vehicle leasing and fleet management leader Donlen Corporation, operates the Hertz 24/7 hourly car rental business in international markets and sells vehicles through its Rent2Buy program. The Company also owns Hertz Equipment Rental Corporation ("HERC"), one of the largest equipment rental businesses with more than 280 locations worldwide offering a diverse line of equipment and tools for rent and sale. HERC primarily serves the construction, industrial, oil, gas, entertainment and government sectors. For more information about Hertz Global Holdings, visit: www.hertz.com.
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SOURCE Hertz Global Holdings, Inc.