Total amount raised
$442.5 Millions
Latest funding date
June, 2022
Location
Metropolis has successfully raised significant funding through multiple rounds, with its latest being a Series C round. The company leverages AI and computer vision to modernize parking and enhance future mobility.
Keep reading to explore the intricacies of Metropolis's fundraising journey and the investors backing this innovative platform.
What Is Metropolis?
Metropolis, founded in September 2017, is headquartered in New York, New York. The company leverages AI and computer vision to modernize parking and support future mobility.
Founded by Alexander Israel, Courtney Fukuda, Peter Fisher, and Travis Kell, Metropolis aims to provide a seamless parking experience. Their technology enables "checkout-free" payment solutions for drivers.
With over 10,001 employees, Metropolis operates in major metropolitan centers, including Los Angeles, Nashville, and New York City.
How Much Funding Has Metropolis Raised?
- Seed Round
- Amount Raised: $20M
- Date: June 2019
- Lead Investors: Zigg Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop and launch their AI-driven parking technology.
- Series A
- Amount Raised: $41M
- Date: January 2021
- Lead Investors: 3L Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand operations and enhance their technology platform.
- Series B
- Amount Raised: $167M
- Date: June 2022
- Lead Investors: 3L Capital, Assembly Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale their services to more metropolitan areas.
- Debt Financing
- Amount Raised: $650M
- Date: October 2023
- Lead Investors: 3L Capital, Eldridge Industries
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To finance the acquisition of SP Plus.
- Series C
- Amount Raised: $1.1B
- Date: October 2023
- Lead Investors: 3L Capital, Eldridge Industries
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support further expansion and technological advancements.
Metropolis has raised a total of $1.978B in funding. The current valuation is not publicly disclosed.
Key Investors
- 3L Capital
- Details: 3L Capital is a venture capital firm that invests in growth-stage companies. They focus on technology and consumer services sectors.
- Investment Focus Areas: Technology, consumer services, growth-stage companies.
- Notable Investments: Not publicly disclosed.
- Eldridge Industries
- Details: Eldridge Industries is a diversified holding company with investments in various sectors. They have a significant presence in insurance, asset management, and technology.
- Investment Focus Areas: Insurance, asset management, technology, sports, media, real estate, consumer services.
- Notable Investments: Not publicly disclosed.
- Assembly Ventures
- Details: Assembly Ventures is a venture capital firm that focuses on mobility and transportation technologies. They aim to support innovative solutions in these sectors.
- Investment Focus Areas: Mobility, transportation, technology.
- Notable Investments: Not publicly disclosed.
- Zigg Capital
- Details: Zigg Capital is a venture capital firm that invests in early-stage technology companies. They focus on real estate technology and related sectors.
- Investment Focus Areas: Real estate technology, early-stage technology companies.
- Notable Investments: Not publicly disclosed.
- Vista Credit Partners
- Details: Vista Credit Partners is the credit investment arm of Vista Equity Partners. They specialize in providing capital solutions to enterprise software and technology-enabled businesses.
- 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 acquisition of SP Plus, a move that will expand its market presence and capabilities. This $1.5 billion deal, backed by $1.7 billion in funding, positions Metropolis to leverage its computer vision system to enhance parking solutions and customer experience.
Future fundraising opportunities are likely as the company scales and integrates SP Plus, attracting more investors. However, challenges such as regulatory approvals and integration hurdles remain. The increasing use of technology in parking and logistics, coupled with industry consolidation, presents both opportunities and competition for Metropolis.
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