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Venture Capital News: ZIRX Announces Funding from BMW Ventures

SAN FRANCISCO, CA, ZIRX, an on-demand valet service, has raised an undisclosed amount of strategic funding from BMW i Ventures.
BMW Group today announced a strategic investment in ZIRX under the company's venture capital entity, BMW i Ventures. An innovative on-demand parking and car services company built for drivers, ZIRX eliminates the frustration that drivers face in owning a car and parking in major urban markets like New York, Los Angeles, San Diego, San Francisco, Seattle and Washington D.C.

'BMW i Ventures provides equity financing to service providers it identifies as having high potential to make urban mobility smarter, more efficient and more flexible,' said Ulrich Quay, Managing Director of BMW i Ventures. 'With its combination of service and technology that makes it easier for drivers to park and take care of their cars, ZIRX has the potential to be a central component of on-demand services.'

ZIRX transforms the way urban dwellers take on the day's routine. Using the company's mobile app, drivers can easily indicate current location and, within minutes, have an agent arrive and valet park any car in a secure garage. While parked, drivers can easily opt for the company's signature ZIRX Care services that include car washes, gas fill-ups, electric vehicle charging, oil changes, tire rotation and factory maintenance. With the average car parked 95% of the time, ZIRX also has the power to be a central component of on-demand services--forever ending the anxiety of missed deliveries. Drivers can download the ZIRX mobile app for iOS here and Android here.

'We are excited that BMW i Ventures has made a strategic investment in ZIRX and are looking forward to working together to help deliver our vision of making parking and car services easier and more convenient than ever,' said Sean Behr, Co-Founder and CEO, ZIRX. 'Our unique on-demand valet and services offerings are taking off in every market we're in today and over the coming weeks and months we'll be bringing new products and services out that will continue to change the world's $41B parking market.'

ZIRX Enterprise As more companies establish offices in cities across the country, parking is becoming a greater issue for both employers and their employees. ZIRX has seen steady growth in its ZIRX Enterprise services the past year, establishing on-demand parking partnerships with leading companies such as Automatic Labs, Insomniac, Juno Therapeutics and Live Nation. With ZIRX Enterprise, companies can offer the convenience of on-demand valet parking and services to employees, helping to attract and retain talent and increase employee productivity. In response to this growing demand, ZIRX is expanding its Enterprise team and is releasing its Enterprise Portal, a web-based dashboard to help companies easily manage employees' accounts and billing.

'We chose to offer ZIRX on-demand parking to our employees in Beverly Hills after we ran out of parking spaces. We've been using ZIRX for more than three months and our employees love it. ZIRX Agents are friendly and professional and have created an easy drop-off and pick-up experience that works for our employees, our landlord and the city of Beverly Hills. The ZIRX team are creative and persistent problem solvers, helping to resolve any issues we encountered and we have now expanded their service to another division of our company,' Linda Gross, Senior Vice-President, Administration, Live Nation Entertainment.
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