Metropolis Acquisition, Valuation, Funding & Investors

Metropolis was acquired by Balchug Capital in April 2023.

Metropolis acquisition price

Undisclosed

Acquired by Balchug Capital · Apr 2023

Cumulative funding Metropolis raised

$1.8B

across 5 funding rounds

Key investors in Metropolis

  • Slow Ventures
  • 3L Capital
  • Halogen Ventures
  • Baron Davis
  • BDT & MSD Partners
  • Assembly Ventures
  • RXR Realty
  • Vista Credit Partners

Metropolis Overview

About Metropolis

Metropolis is a New York-headquartered AI company deploying computer vision for parking automation at 1,000 facilities across North America. Its platform uses license plate recognition and app integration for ticketless entry, processing 50 million transactions yearly. Launched in 2019, Metropolis partners with LAZ Parking and airports, expanding to EV charging payments.


Founded

2017

HQ

United StatesNew York City, NY

Status

Acquired

Customer focus

B2B

Revenue model

Usage-based, Subscription

Valuation

$5B (Nov 2025)

Metropolis Acquisition

Metropolis was acquired by Balchug Capital for an undisclosed price on 6 April 2023.

Before the acquisition Metropolis had raised $1.8B across 5 funding rounds.

Balchug Capital acquired the Metropolis shopping and entertainment center in Moscow from a group of Western investors led by Hines. The deal continues Hines' post-war divestment from Russia, with Balchug Capital, an Armenia-based investment fund, taking over one of the city's landmark retail assets.

Metropolis acquisition details
AcquirerDateType
  • Balchug Capital
6 Apr 2023PE buyout

Sources: rbc.ru, globenewswire.com, bisnow.com

Metropolis Valuation

Metropolis is currently valued at $5B, based on its Series D in November 2025.

The $500M round was led by LionTree, with participation from SoftBank Group, Slow Ventures, DFJ Growth, BDT & MSD Partners, Vista Credit Partners and 2 other investors.

Metropolis' valuation has grown 32x from $154M at its Series A in January 2021 to $5B in November 2025, across 2 priced rounds.

Metropolis valuation by funding round

Metropolis valuation by funding round
DateStageValuation
Nov 2025Series D$5B
Jan 2021Series A$154M

Metropolis Funding History

Metropolis has raised a total of $1.8B across 5 funding rounds.

Metropolis' first fundraising round was a $20M seed round in June 2019. The most recent completed round was a $500M Series D in November 2025.

Metropolis funding rounds

Metropolis funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Nov 2025Series DLionTree (lead); SoftBank Group; Slow Ventures; DFJ Growth; BDT & MSD Partners; Vista Credit Partners; Eldridge; Tekne Capital$500M$5BMetropolis Technologies, a Los Angeles-based leader in applied AI for physical infrastructure, develops computer vision technology enabling checkout-free parking, where drivers use an app for license plate recognition and automated billing without cash or cards. The company has expanded into retail, hospitality, fueling, and mobility through major acquisitions, including the 2024 take-private of SP+ (the largest venture-backed M&A that year) and the 2025 acquisition of Oosto for AI-powered biometrics. On November 6, 2025, Metropolis closed a $1.6 billion financing package, comprising a $1.1 billion Term Loan B arranged by JPMorgan Chase Bank and a $500 million Series D equity round led by a LionTree-managed fund, valuing the company at approximately $5 billion post-money. Participants included BDT & MSD Partners’ affiliated credit funds, DFJ Growth, Eldridge Industries, Slow Ventures, SoftBank Vision Fund 2, Tekne Capital, and Vista Credit Partners, matching the specified investors. The capital will accelerate expansion of its AI-driven Recognition Economy platform, which powers over $5 billion in annual transactions (not stated as revenue), serves 50 million customers, and has nearly 20 million members. Metropolis, founded in 2017 by CEO Alex Israel, has raised about $3.5 billion in total debt and equity, positioning it as one of the fastest-growing U.S. tech companies transforming real-world interactions.
Oct 2023Series C3L Capital (lead); Eldridge Industries (lead); Temasek; Slow Ventures; BDT & MSD Partners; Vista Credit Partners; Assembly Ventures$1.1B-Metropolis Technologies is an AI-powered parking technology company that uses computer vision to enable checkout-free payment experiences and manage parking operations. In October 2023, Metropolis announced a $1.7 billion financing round led by Eldridge Industries and 3L Capital to acquire SP Plus Corporation, a technology and operations management provider of mobility services with approximately 20,000 employees operating across 3,300+ commercial locations and 160+ airports. The financing consisted of $1.05 billion in Series C preferred stock and $550 million in term debt, with an additional $175 million revolving credit facility from PNC Bank. The SP Plus acquisition was valued at approximately $1.5 billion enterprise value and was completed in early 2024, making it the largest venture-backed M&A transaction that year and positioning Metropolis as the largest parking network in North America with over 4,000 locations and the capability to process over $4 billion in payments annually for more than 50 million consumers.
Jun 2022Series B3L Capital (lead); Assembly Ventures (lead)$167M-Metropolis Technologies, a mobility commerce platform powered by advanced computer vision and proprietary machine learning, raised $167 million in a Series B round on June 15, 2022, co-led by 3L Capital and Assembly Ventures, with participation from Dragoneer Investment Group, Eldridge, Silver Lake Waterman, UP Partners, and others including former NYC Deputy Mayor Dan Doctoroff, DivcoWest, and prior Series A investors exercising pro rata rights. The funding aims to support product development, team expansion, and entry into new mobility-adjacent verticals beyond parking. At the time, Metropolis facilitated drive-in, drive-out payments for nearly two million members across more than 600 parking lots and garages in over 60 cities, partnering with thousands of grocery stores, coffee shops, and local merchants, achieving 28x member growth since its February 2021 Series A despite the COVID-19 pandemic. The company charges real estate asset owners software subscription fees, with its parking segment reported as profitable, enabling reinvestment in growth and R&D, though specific revenue or ARR figures were not disclosed. Metropolis, founded in 2017, had previously raised $41 million in Series A and reached a total of $226 million post-Series B. CEO Alex Israel emphasized scaling users and locations amid a cooling funding market, targeting growth to 2,500 employees from 2,000, with 200 open positions. Post-Series B, Metropolis pursued aggressive expansion, completing major acquisitions like SP+ in 2023-2024 and Oosto in 2025, securing additional debt and equity financings including a $1.05 billion Series C, $650 million and $1.1 billion debt rounds, and a $1.6 billion Series D in 2025 valuing the company at approximately $5 billion while powering over $5 billion in annual transactions for 50 million customers and nearly 20 million members.
Jan 2021Series A3L Capital (lead); Baron Davis; Dragoneer; RXR Realty; Slow Ventures; 01 Advisors; Starwood Capital Group; Gideon Hixon Fund; Halogen Ventures; DivcoWest$41M$154MMetropolis Technologies is an AI-powered platform that automates parking garages using computer vision to enable seamless entry, exit, and payment without tickets or barriers, improving revenue generation, reducing operating expenses, and providing data analytics for real estate partners. Founded in 2017 in Los Angeles, the company launched publicly with its $41 million Series A round announced on February 16, 2021, led by 3L Capital with participation from 01 Advisors, Dragoneer Investment Group, Slow Ventures, Starwood Capital Group, RXR Realty, DivcoWest, Baron Davis, and others including Dan Doctoroff. This brought total funding to over $60 million including prior seed from Zigg Capital, Halogen Ventures, and returning investors. Proceeds funded expansion to over 600 locations across more than 30 markets including New York, Los Angeles, San Francisco, Nashville, Detroit, Austin, Dallas, and Seattle by the end of 2021, along with platform refinement and team growth. Metropolis positioned parking as an under-monetized real estate asset ripe for reinvention amid rising investments in mobility like scooters, ebikes, autonomous vehicles, and eVTOLs, aiming to integrate services such as cleaning, charging, storage, and logistics. The round aligned with a proptech investment dip in 2020, yet Metropolis secured backing from prominent real estate and tech investors. Later developments included acquisitions like Premier Parking in 2022 and a 2024 Series D with $500 million equity at $5 billion valuation plus debt financing, powering over $5 billion in annual transactions across parking, retail, hospitality, fueling, and mobility for 50 million customers.
Jun 2019SeedZigg Capital (lead); Baron Davis; RXR Realty; Slow Ventures; Halogen Ventures; Dan Doctoroff$20M-Metropolis, an AI-powered parking platform founded in 2017, raised $20 million in a seed round in June 2019 led by Zigg Capital with participation from investors including Baron Davis, Dan Doctoroff, Halogen Ventures, RXR Realty, and Slow Ventures. The funding was aimed at developing initial technology and expanding the team. Valuation at the time was not publicly disclosed. The company uses computer vision to enable checkout-free parking, allowing drivers to park without physical payment methods by tracking vehicles via license plates and charging through an app. Subsequent rounds saw significant growth, including a Series A and further financings, leading to unicorn status by 2023. In October 2023, Metropolis raised $1.05 billion in Series C and $650 million in debt financing led by 3L Capital and Eldridge Industries to finance the acquisition of SP Plus, the largest venture-backed M&A of 2024. This was followed by a $1.6 billion financing in November 2025, including a $500 million Series D led by LionTree and a $1.1 billion term loan from JPMorgan Chase, valuing the company at approximately $5 billion. Today, Metropolis powers over $5 billion in annual transactions across more than 4,200 locations, serving 50 million customers and nearly 20 million members, with monthly additions of about one million new members. The platform has expanded beyond parking into retail, hospitality, fueling, and mobility, building an intelligent infrastructure layer for the 'Recognition Economy' using AI for seamless, personalized interactions without manual authentication. Key acquisitions include SP+ in 2024 and Oosto in 2025 for AI-powered biometrics. Investors across rounds include DFJ, Vista Credit Partners, SoftBank Vision Fund 2, Tekne Capital, BDT & MSD Partners, and others. Total funding raised exceeds $3.5 billion in debt and equity since inception.

Who has invested in Metropolis?

22 investors have backed Metropolis across its funding rounds, including Slow Ventures, 3L Capital, Halogen Ventures, Baron Davis, BDT & MSD Partners and Assembly Ventures.

Lead investors include LionTree, 3L Capital, Eldridge Industries, Assembly Ventures and Zigg Capital.


Metropolis Investors

Investors in Metropolis by funding rounds participated
InvestorHQRoundsRoleFirst check
Slow VenturesUnited StatesSan Francisco, CA4ParticipantJun 2019
3L CapitalUnited StatesUnited States3LeadJan 2021
Baron DavisUnited StatesLos Angeles, CA2ParticipantJun 2019
RXR RealtyUnited StatesNew York City, NY2ParticipantJun 2019
BDT & MSD PartnersUnited StatesChicago, IL2ParticipantOct 2023
Vista Credit PartnersUnited StatesAustin, TX2ParticipantOct 2023
Halogen VenturesUnited StatesLos Angeles, CA2ParticipantJun 2019
Assembly VenturesUnited StatesDetroit, MI2LeadJun 2022
TemasekSingaporeSingapore1ParticipantOct 2023
DragoneerUnited StatesSan Francisco, CA1ParticipantJan 2021
SoftBank GroupJapanTokyo1ParticipantNov 2025
Zigg CapitalUnited StatesNew York City, NY1LeadJun 2019
DFJ GrowthUnited StatesSan Francisco, CA1ParticipantNov 2025

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Acquisitions by Metropolis

Metropolis has acquired 3 companies to date.

Last acquisition by Metropolis was on January 20th 2025. Metropolis acquired Oosto for $125M.


Latest Acquisitions by Metropolis

Oosto
SP Plus
Premier Parking
Description
Oosto is a Vancouver-based video analytics company. It delivers real-time threat detection for enterprises using ethical AI to monitor safety in retail, offices, and public spaces without invasive tracking. The platform analyzes video feeds for anomalies like loitering, violence, or falls, integrating with existing cameras for customer and employee protection.
SP+ is a Chicago-headquartered operator of parking facilities, ground transportation, facility maintenance, security, and event logistics services across North America. It manages garages, lots, and valet operations for commercial real estate, airports, hospitals, and stadiums. The company provides shuttle services, EV charging infrastructure, and staffed security for urban centers and special events through nine specialized divisions.
Premier Parking is a technology-enabled parking operator managing facilities for office buildings, mixed-use developments, sports stadiums, arenas, hospitals, and special events across the United States. Services include valet operations, revenue control systems, mobile payments, and analytics platforms supporting urban and suburban locations.
HQ CountryIsraelUnited StatesUnited States
HQ City
Holon
Chicago, IL
Nashville, TN
Deal Date20 Jan 20255 Oct 202330 Mar 2022
Valuation$125M$1.5Bundisclosed
EV/Revenue
EV/EBITDA

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Metropolis Competitors

Metropolis competitors include listed companies like EquipmentShare.com and Descartes Systems Group, and private ones like Motive, Peregrine.ai, Placer.ai and Kpler.

Public and private companies comparable to Metropolis
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
MotiveUnited StatesOklahoma City, OKPrivate$501M-$3.1B6.1x
Peregrine.aiGermanyBerlinPrivate$30M-$2.5B83.3x
Placer.aiUnited StatesSan Francisco, CAPrivate$100M-$1.5B15.0x
EquipmentShare.comUnited StatesUnited StatesPublicly listed$4.4B$704M$4.6B1.8x
KplerBelgiumBrusselsPrivate$300M-$3.7B12.3x
Descartes Systems GroupCanadaCanadaPublicly listed$729M$305M$6.8B8.1x

Metropolis Public Comps

Metropolis is no longer listed, but its public comps include ServiceTitan, EquipmentShare.com, Tenable, SenseTime Group, XtalPi, CorVel, Delhivery, WEX, TravelSky and Descartes Systems Group.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
ServiceTitan$961M($86M)5.0x4.5x(55.8x)25.5x
EquipmentShare.com$4.4B$704M2.1x1.8x13.1x5.3x
Tenable$999M$31M4.1x3.9x129.9x15.3x
SenseTime Group$748M($70M)6.9x5.8x(73.5x)113.7x
XtalPi$120M$22M24.8x21.5x134.0x(141.6x)
CorVel$959M$175M3.5x-19.1x-
Delhivery$1.1B$80M2.9x2.7x40.1x38.9x
WEX$2.7B$992M2.2x2.1x6.0x4.8x

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Common questions about Metropolis

When was Metropolis founded?Metropolis was founded in 2017.
Where is Metropolis headquartered?Metropolis is headquartered in New York City, NY, United States.
Is Metropolis publicly listed?No, Metropolis was acquired by Balchug Capital in April 2023.
Who acquired Metropolis?Metropolis was acquired by Balchug Capital in April 2023.
What is Metropolis' valuation?Metropolis was last valued at $5B in its Series D in November 2025.
How much funding has Metropolis raised?Metropolis has raised $1.8B across 5 funding rounds.
What was Metropolis' last funding round?Metropolis' last funding round was a $500M Series D in November 2025, led by LionTree.
Who are Metropolis' investors?Metropolis' investors include Slow Ventures, 3L Capital, Baron Davis, RXR Realty, BDT & MSD Partners, Vista Credit Partners, Halogen Ventures, Assembly Ventures, Temasek, Dragoneer and 12 others.
Which companies are comparable to Metropolis?Companies comparable to Metropolis include Motive, Peregrine.ai, Placer.ai, EquipmentShare.com, Kpler and Descartes Systems Group.
How many companies has Metropolis acquired?Metropolis has acquired 3 companies, including Oosto, SP Plus and Premier Parking.
What was the largest acquisition by Metropolis?The $1.5B acquisition of SP Plus in October 2023 is the largest acquisition Metropolis has made to date.

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