Total amount raised
$442.5 Million
Latest funding date
6/1/2022
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.
Keep reading to explore the intricacies of Metropolis's fundraising journey and the investors backing this innovative platform.
What Is Metropolis?
Metropolis is an AI and computer vision start-up focused on modernizing parking and empowering the future of mobility. Based in New York, New York, the company has over 10,001 employees and is the largest parking operator in the U.S.
Leveraging their industry-leading computer vision technology, Metropolis has developed a Recognition Platform that makes physical spaces responsive and seamless for users. The company has a significant presence with over 4500 North American locations and adds over 1 million new members every month.
How Much Funding Has Metropolis Raised?
- Seed Round
- Amount Raised: USD 20,000,000
- Date: June 2019
- Lead Investors: Zigg Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop initial technology and expand the team.
- Series A
- Amount Raised: USD 41,000,000
- Date: January 2021
- Lead Investors: 3L Capital
- Valuation at Round: Not publicly disclosed
- 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
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market presence and integrate new technologies.
- Series C
- Amount Raised: USD 1,050,000,000
- 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 and enhance market capabilities.
- Debt Financing
- Amount Raised: USD 650,000,000
- Date: October 2023
- Lead Investors: 3L Capital, Eldridge Industries
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the acquisition of SP Plus.
- Debt Financing
- Amount Raised: USD 1,100,000,000
- Date: November 2025
- Lead Investors: JP Morgan Chase
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further expand operations and technology development.
- Series D
- Amount Raised: USD 500,000,000
- Date: November 2025
- Lead Investors: LionTree
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and market expansion.
Total Amount Raised: USD 3,528,000,000. Current Valuation: Not publicly disclosed.
Key Investors
- DFJ Growth
- Details: DFJ Growth is a venture capital firm that focuses on investing in high-growth technology companies. They have a history of backing innovative startups that have the potential to disrupt their respective industries.
- Investment Focus Areas: Technology, healthcare, energy, and consumer services.
- Notable Investments: SpaceX, Tesla, SolarCity.
- Vista Credit Partners
- Details: Vista Credit Partners is the credit investment arm of Vista Equity Partners, specializing in providing flexible capital solutions to enterprise software, data, and technology-enabled businesses. They are known for their strategic investments in the tech sector.
- Investment Focus Areas: Enterprise software, data, technology-enabled businesses.
- Notable Investments: Not publicly disclosed.
- LionTree
- Details: LionTree is a global investment and merchant banking firm that focuses on the technology, media, and telecommunications sectors. They provide strategic advisory and capital-raising services to their clients.
- Investment Focus Areas: Technology, media, telecommunications.
- Notable Investments: Not publicly disclosed.
- Eldridge
- Details: Eldridge is a diversified holding company with investments in various sectors including insurance, asset management, technology, sports, media, real estate, and consumer. They are known for their strategic and diversified investment approach.
- Investment Focus Areas: Insurance, asset management, technology, sports, media, real estate, consumer.
- Notable Investments: Not publicly disclosed.
- 3L Capital
- Details: 3L Capital is a venture capital firm that invests in growth-stage companies across various sectors. They focus on companies that have the potential for significant growth and market impact.
- Investment Focus Areas: Growth-stage companies across various sectors.
- 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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