Luxe, a valet parking startup, said Thursday that it raised a $50 million funding round led by Hertz Global Holdings . Redpoint Ventures and Venrock were also investors. With the investment, Luxe plans to expand beyond the six cities the service is currently offered in. For Hertz, the investment comes after the company cut 2016 projections and cited weakness in the car rental sector. Shares of Hertz were down 5% Thursday.
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