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PressClub USA · Article.
BMW i Ventures Makes Strategic Investment in ZIRX
Wed Sep 02 16:00:00 CEST 2015 Press Release
New York, NY and San Francisco, CA — September 2, 2015—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 intends to eliminate the frustration that drivers face in parking in major urban markets like New York, Los Angeles, San Diego, San Francisco, Seattle and Washington D.C. The investment increases the number of mobility services start-ups in BMW i Ventures’ portfolio to 13. The current portfolio includes companies like Chargepoint, Life360, Moovit, JustPark, Chargemaster and Zendrive.
New York, NY and San Francisco, CA — September 2, 2015—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 intends to eliminate the frustration that drivers face in parking in major urban markets like New York, Los Angeles, San Diego, San Francisco, Seattle and Washington D.C. The investment increases the number of mobility services start-ups in BMW i Ventures’ portfolio to 13. The current portfolio includes companies like Chargepoint, Life360, Moovit, JustPark, Chargemaster and Zendrive.
“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.”
“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 change the world’s $41B parking market.
About BMW i Ventures
BMW i Ventures is a venture capital company founded by BMW Group.
BMW i Ventures invests in cutting-edge solutions focusing on the mobility needs of urban populations. We support high-potential start-ups and high-growth companies dedicated to shape the future of global mobility. As a part of the BMW i Ventures portfolio our partners benefit from our long-term experience, our strong reach and the broad network of a well-established brand. BMW i Ventures is a strategic investor that builds strong partnerships through collaboration projects leading to sustainable business value.
About ZIRX
ZIRX is the leading on-demand valet and 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 New York, San Francisco, Los Angeles, Seattle and Washington, D.C.
Headquartered in San Francisco, ZIRX was founded 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.
Contacts:
Kenn Sparks
Business Spokesman
BMW Group
Media contact for ZIRX
Michael Celiceo