Business, Investments

On-demand Valet Startup Luxe Raises $20M from Redpoint and Venrock

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California-based, on-demand startup, Luxe Valet has raised $20 million in Series A round from Redpoint Ventures and Venrock Partners. The raised funding will be used to expand both its availability on new devices and new cities.

As per a TechCrunch report, the firm is also planning to launch an Android app soon, and will use the funding to accelerate its entrance into new markets.

Luxe had previously raised a $5.5 million seed round from Redpoint, Google Ventures, Sherpa Ventures, Lightspeed Venture Partners, Foundation Capital, and Data Collective. Including this round, the firm has received a total capital of $25.5 million till date.

Founded in 2013 as a venture of Craig Martin, Curtis Lee, Luxe is building a logistics platform that will drive local real time services, beginning with parking. The free Luxe app available for iOS users, transforms parking from a necessary evil to a daily highlight. It is working with local businesses to give their customers a parking spot in front, every time they visit. The company’s partners include AQ, ALTA CA and Stones Throw.

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