Hertz Investing in Luxe

Hertz Investing in Luxe
Photo by Bloomberg.

Luxe, an on-demand parking startup, is raising tens of millions of dollars at a more than $100 million pre-money valuation. The Series B round is expected to be led by a strategic investor, Hertz, one of the country's top car-rental companies whose parent firm is worth $3.8 billion in the public market, according to people familiar with the pending deal. Spokespeople for companies didn't immediately respond to a request for comment.

It's an important deal for a beleaguered subsection of the software industry focused on the "on-demand economy," though the valuation, while up 100% from the company's last round a year ago, reflects a relatively tempered optimism around the winners in such categories.

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