CurbStand Raises $3 Million in Additional Funding

LOS ANGELES, Sept. 22, 2014 /PRNewswire/ -- CurbStand, the iOS app that allows users to seamlessly locate, pay and tip for valet parking from their mobile devices, announced today a new funding round of $3 million from a private investor. The additional funding follows an initial $1 million investment the company received upon its inception in October 2013. CurbStand will utilize the investment to expand its executive staff, launch operations into other U.S. markets, further develop its product and raise national brand awareness.

"The latest multi-million dollar investment in CurbStand not only showcases investor confidence in our app, but it also serves to underscore the viability of our business model and our tremendous growth potential," said Serge Gojkovich, CEO of CurbStand. "The funding will accelerate the expansion of our sales, business and product development teams, along with our plans to offer our services to even more valet locations in Los Angeles and speed up our roll out into new markets nationwide."

CurbStand is currently available in Los Angeles. To date, the company has amassed 125 stands that serve over 170 businesses in the area and is adding 5-10 new locations each week. Between June and July 2014 alone, CurbStand experienced a 50 percent month-over-month increase and a 25 percent uptick in downloads. The gains are a testament to the pioneer valet app's momentum.

"CurbStand is changing the landscape of the valet parking arena, introducing a new level of cashless convenience for consumers and greater innovation for valet operators," Gojkovich continued. "We're already demonstrating rapid growth in L.A. and we have plans to unveil our app in six major U.S. cities within the next 12 months, as well as bring new, groundbreaking features to our users."

CurbStand already serves as the preferred valet service for various celebrity events, including two of socialite Paris Hilton's parties and the Bel Air wedding of a "Real Housewives of Beverly Hills" family member. The company has also developed partnerships with many notable L.A. businesses, including nightlife establishments Nic's Martini Lounge, The Victorian, Supperclub LA, and Project LA; and notable restaurants such as Wolfgang's Steakhouse, Osteria Mamma, Philippe Chow, Sugarfish, Stout Burger, Malibu Cafe, El Compadre, Stella Barra Pizzeria, and M Street Kitchen, among others.

The CurbStand app can be found in the iTunes store and has already enhanced thousands of drivers' valet experience. CurbStand is in the process of updating its current product, which will be available this fall.

About CurbStand:
Founded by Owen De Vries, Moncef Abbou and Nicole Duncan in October 2013, CurbStand is an investor-backed startup based in Los Angeles, California that is introducing a mobile payment and specialty services platform for the valet and parking industries. Leveraging cutting edge technologies, CurbStand is delivering a cashless, concierge-style valet experience for customers to find, pay and tip for parking and for businesses and their valet companies to better manage their parking. Restaurants and other businesses interested in offering the seamless CurbStand valet experience should email [email protected]. Visit www.CurbStand.com for more information. Follow CurbStand on Twitter, Instagram and Facebook, and download the iOS app for free via the iTunes store.

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SOURCE CurbStand