Metropolis Secures $1.6 Billion Financing Including $500 Million Series D Round
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Metropolis, a Los Angeles-based provider of parking lot technology, secured $1.6 billion in financing, including a $1.1 billion Term Loan B arranged by JPMorgan Chase Bank and a $500 million Series D round led by LionTree. The round values Metropolis at $5 billion.
Metropolis supports over $5 billion in annual transactions, serves 50 million customers and counts nearly 20 million members across its growing network. With this new capital, the company will accelerate its expansion in parking, retail, hospitality, fueling and mobility, and building an intelligent infrastructure layer that seamlessly connects people to the physical world.
“We’re scaling our platform to realize the full potential of the recognition economy, building a world where infrastructure knows you, moves with you and predicts your needs. We’re eliminating friction and creating recognition at scale for millions of members,” said Alex Israel, chief executive and co-founder of Metropolis, in a statement.
Information for this article was sourced from Metropolis.
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