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Total amount raised
$3.4B
Latest funding date
2025-11-06
Location
Metropolis has successfully raised $1.6 billion over 7 funding rounds, with the latest being a Series D led by LionTree. The company is backed by 30 investors, including DFJ Growth and Vista Credit Partners.
What Is Metropolis?
Metropolis is an AI and computer vision company focused on modernizing parking and empowering the future of mobility. Based in Los Angeles, California, Metropolis is the largest parking operator in the U.S., leveraging its Recognition Platform to make physical spaces seamless and responsive for users. The company has a significant presence with over 4,200 North American locations and serves approximately 50 million customers.
Metropolis uses checkout-free AI technology across parking, retail, hospitality, fueling, and mobility. Following its 2024 take-private acquisition of SP Plus Corporation and its 2025 acquisition of AI biometrics company Oosto, Metropolis continues to expand its applied AI platform into new verticals.
How Much Funding Has Metropolis Raised?
- Seed Round
- Amount Raised: USD 17,500,000
- Date: June 2019
- Lead Investors: Zigg Capital
- Participants: Slow Ventures, RXR Realty
- Motivation Behind the Round: To develop initial technology and expand the team.
- Series A
- Amount Raised: USD 41,000,000
- Date: February 2021
- Lead Investors: 3L Capital
- Participants: 01 Advisors, Dragoneer Investment Group, Slow Ventures, Starwood Property Trust, RXR Realty, DivcoWest, Dan Doctoroff
- Motivation Behind the Round: To scale operations and enhance the Recognition Platform.
- Series B
- Amount Raised: USD 167,000,000
- Date: June 2022
- Lead Investors: 3L Capital, Assembly Ventures
- Participants: Dragoneer Investment Group, Eldridge Industries, Silver Lake Waterman, UP Partners
- Motivation Behind the Round: To expand market presence and integrate new technologies.
- Series C
- Amount Raised: USD 1,050,000,000
- Date: Announced October 2023; Closed May 2024
- Lead Investors: Eldridge Industries, 3L Capital
- Participants: BDT & MSD Partners' affiliated credit funds, Vista Credit Partners, Temasek, Slow Ventures, Assembly Ventures
- Motivation Behind the Round: To finance the acquisition of SP Plus and enhance market capabilities.
- Debt Financing
- Amount Raised: USD 550,000,000
- Date: Announced October 2023; Closed May 2024
- Lead Investors: Eldridge Industries, Maranon Capital (an Eldridge affiliate), Goldman Sachs
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Term debt financing to support the acquisition of SP Plus Corporation.
- Debt Financing (Term Loan B)
- Amount Raised: USD 1,100,000,000
- Date: November 2025
- Lead Investors: JPMorgan Chase Bank, N.A.
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To refinance prior debt and support ongoing operations and expansion.
- Series D
- Amount Raised: USD 500,000,000
- Date: November 2025
- Lead Investors: LionTree
- Participants: BDT & MSD Partners' affiliated credit funds, DFJ, Eldridge Industries, Slow Ventures, SoftBank Vision Fund 2, Tekne Capital, Vista
- Valuation at Round: ~$5 billion (post-money)
- Motivation Behind the Round: To accelerate growth beyond parking into retail, hospitality, fueling, and mobility verticals.
Total Amount Raised: at least USD 3,425,500,000 based on disclosed funding rounds. Current Valuation: Approximately $5 billion (as of November 2025 Series D).
Key Investors
- LionTree
- Details: LionTree is a global investment and merchant banking firm focused on the technology, media, and telecommunications sectors. LionTree led Metropolis's $500 million Series D in November 2025, valuing the company at approximately $5 billion.
- Investment Focus Areas: Technology, media, telecommunications.
- Notable Investments: Not publicly disclosed.
- 3L Capital
- Details: 3L Capital is a venture capital firm that has been a lead investor in Metropolis since the Series A. They co-led the Series B and participated in the Series C alongside Eldridge Industries.
- Investment Focus Areas: Growth-stage technology companies across various sectors.
- Notable Investments: Not publicly disclosed.
- Eldridge Industries
- Details: Eldridge is a diversified holding company led by Todd Boehly, with investments spanning insurance, asset management, technology, sports, media, and real estate. Eldridge co-led Metropolis's Series C in 2023/2024 and participated in the Series D in 2025.
- Investment Focus Areas: Insurance, asset management, technology, sports, media, real estate, consumer.
- Notable Investments: Not publicly disclosed.
- SoftBank Vision Fund 2
- Details: SoftBank Vision Fund 2 is the second iteration of SoftBank Group's flagship technology investment fund, focused on AI and technology companies with global scale potential. SoftBank participated in Metropolis's Series D in November 2025.
- Investment Focus Areas: AI, technology, mobility, fintech.
- Notable Investments: Numerous technology unicorns globally.
- Vista Credit Partners
- Details: Vista Credit Partners is the credit investment arm of Vista Equity Partners, specializing in providing flexible capital solutions to technology-enabled businesses. They participated in Metropolis's Series C financing and the Series D.
- Investment Focus Areas: Enterprise software, data, technology-enabled businesses.
- Notable Investments: Not publicly disclosed.
What's Next for Metropolis?
Metropolis is poised for significant growth with its recent acquisition of SP Plus, a move that expands its market presence and enhances its technological capabilities. This $1.5 billion deal, financed through $1.7 billion in debt and equity, underscores the company's ambition to dominate the parking and logistics industry.
Future fundraising opportunities seem promising, given the successful capital raise for the SP Plus acquisition. Metropolis may continue to attract investors to support further technological advancements and market expansion. However, the company faces challenges such as regulatory approvals and the integration of SP Plus into its operations.
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