SAN FRANCISCO, April 22, 2015 /PRNewswire/ -- ZIRX, the leading on-demand valet and car services company, today announced that it has closed $30 million in Series B financing led by Bessemer Venture Partners with participation from existing investors Norwest Venture Partners and Trinity Ventures, among others. With proceeds from this round, the company will accelerate its expansion efforts into new markets and continue to develop the ZIRX service and platform. To date, ZIRX has raised a total of $36.4 million in funding.
ZIRX was founded in 2014 by an experienced team, led by serial entrepreneur Sean Behr, as a solution to the high-cost and frustration that consumers face in owning a car and parking in major cities. Through the ZIRX mobile app, consumers can now easily indicate their location and within minutes have a ZIRX agent arrive and valet park their car in a secure garage. While parked, consumers can easily opt for a gas fill-up, a car wash and more via the ZIRX app. When ready to leave, the car can be delivered to a requested location, at the tap of a button. The company first launched its on-demand valet service in San Francisco in June 2014 and has since grown revenue and users more than 600x since launch, expanding operations to Los Angeles, Seattle and Washington, D.C. In addition, ZIRX customers have purchased almost 3,000 services including gas fill-ups, car washes and more.
ZIRX also announced that Ethan Kurzweil, Partner at Bessemer Venture Partners, has joined ZIRX's Board of Directors.
"ZIRX is genius. Who doesn't hate circling for parking?" said Ethan Kurzweil, Partner, Bessemer Venture Partners. "The company has taken a task that is frustrating at best and often downright maddening – and made it a delightful, elegant, concierge-level experience. As the first multi-city on demand valet service, ZIRX has the one-two punch of great technology combined with impressive customer service that makes it hard to beat. After working closely with Sean at Adap.tv, we're excited to partner with him again and work together on ZIRX's next phase of growth."
To meet rising consumer demand, ZIRX is rolling out services to multiple new cities, the first of which will be announced within the coming weeks. This latest expansion will help to alleviate the growing parking, congestion and car servicing issues that people living in and around major metropolitan cities face today.
"Since our inception, ZIRX has pursued an aggressive growth strategy to offer the most extensive on-demand car services throughout the greatest number of markets," said Sean Behr, founder and CEO of ZIRX. "This commitment from leading investors is a reflection of our tremendous success to date and a strong signal of support for ZIRX's unique market approach and future growth opportunity."
This news comes on the heels of the introduction of ZIRX Care, which is available in all markets as of today. The new service offering includes oil changes, tire rotations, factory maintenance and more, which can be provided while ZIRX has a vehicle in its charge. ZIRX has led the industry in offering value-added services such as gas fill ups, electric vehicle charging and car washing.
Ajay Chopra, General Partner, Trinity Ventures, offers his perspective on why on-demand parking is just the beginning for ZIRX here.
ZIRX is the leading on-demand valet and car services company. Through the ZIRX mobile app, consumers can now easily indicate their location and within minutes have a ZIRX agent arrive and valet park their car in a secure garage. While parked, consumers can easily opt for a gas fill-up, a car wash and more via the ZIRX app. When ready to leave, the car can be delivered to a requested location, at the tap of a button. The company has operations in San Francisco, Los Angeles, Seattle and Washington, D.C.
Headquartered in San Francisco, ZIRX was founded by in 2014 by Internet veterans who have built marketplace businesses in e-commerce and advertising. The company is funded by Bessemer Venture Partners, Norwest Venture Partners and Trinity Ventures.
About Bessemer Venture Partners
Bessemer Venture Partners (BVP) invests in early-stage, hyper-growth startups, partnering closely with entrepreneurs to build durable businesses. BVP is a global firm with offices in Menlo Park, Cambridge, New York, Bangalore, Herzliya and Sao Paulo. With $4 billion under management, BVP invests anywhere from $100,000 to $75 million in innovative companies like Pinterest, Twilio, Box, LinkedIn, Shopify, Yelp, Skype and CornerstoneOnDemand. Over 100 BVP companies have gone public. Learn more at www.bvp.com and follow us on Twitter @BessemerVP