Luxe operates an on-demand valet service that pays valets to be stationed throughout major U.S. cities, ready to park cars on a moment’s notice. The service is currently offered in six cities: San Francisco, Los Angeles, Seattle, Austin, Chicago and New York. Luxe confirmed a $50 million Series B investment from Hertz, a deal intended to provide capital for its high-cost, operations-heavy model. The company says it will use the capital to invest in valet operations, product and engineering teams and to introduce new services that complement its current parking and car offerings. Luxe and Hertz intend to develop integrated services that can be offered to Hertz customers, and Hertz CEO John Tague will join Luxe’s board. The strategic investment is intended to help Luxe scale its footprint to other major urban centers. Luxe operates a mobile app that lets users hail valets on demand, have cars parked at partner garages, and request returns to a designated spot. Users typically mark where the car should be picked up and request returns 10–15 minutes ahead of time. The company reports strong early traction: 60% of customers are repeat users who use the service two to three times per week, primarily commuters. Luxe is available in San Francisco and Los Angeles and only launched in October. The company plans to expand to new cities and release an Android app while broadening availability on additional devices. Luxe has raised institutional capital to support that expansion and growth in operations. Luxe operates an on-demand iOS app that summons a personal valet to meet users, take their keys, and park their cars in partnered garages and lots across San Francisco. Users see a valet profile, estimated arrival time, and can call or text their valet; valets wear a custom light-blue uniform and Luxe says they are trained and vetted. The service is priced at $5 per hour with a $15 daily maximum and is covered by a $1M general liability insurance policy. Luxe currently focuses on evenings and business/date-night use cases in neighborhoods like SOMA and the Mission. Overnight parking is not yet supported but the company says there has been demand for that feature and it may be added in the future. Luxe raised a $5.5M seed round from a group of venture firms to support its San Francisco operations.

Total raised

$76M

Funding rounds

3

Latest round

Series B

Latest activity

Apr 2016