Metropolis, a Los Angeles-based AI-powered checkout-free parking platform, has raised $1.6 billion in debt and equity, including a $500 million Series D round led by LionTree and other major investors. The company is now valued at $5 billion and has secured a $1.1 billion loan from JP Morgan Chase. Since its founding in 2017, Metropolis has raised $3.5 billion in total. Its technology uses computer vision to allow drivers to park and pay seamlessly through an app, eliminating the need for cards or cash. The company processes over $5 billion in annual transactions across 4,200+ locations and boasts nearly 20 million members. Recent acquisitions include logistics firm SP Plus for $1.5 billion and AI biometrics startup Oosto for $125 million, expanding Metropolis’ workforce to over 23,000 employees. CEO Alex Israel emphasizes the company’s mission to remove friction in physical world transactions and expand into new sectors such as retail, hospitality, and fueling.
Back
