Metropolis raises $167 million
Metropolis, a startup building payment infrastructure for parking facilities, has raised $167 million in Series B funding. The round was co-led by 3L Capital and Assembly Ventures, and included participation from Dragoneer Investment Group, Eldridge, Silver Lake Waterman, and UP Partners.
Founded in 2017, the California-based startup equips parking facilities with a computer vision-based system that enables customers to drive in and drive out.
Metropolis recently acquired Premier Parking, a Nashville-based company that controls 120,000 parking spaces in 50 cities; about a quarter of those spaces are in Nashville. Last November, Metropolis announced a partnership with Uber’s Uber Park, which allows Uber riders to use the Uber app to access locations within the Metropolis network.
The startup isn’t just looking at parking services – it wants to connect transportation, neighborhood commerce, and payments through its platform.