Metropolis Technologies is an American technology company headquartered in Santa Monica, California. As of 2024, it is the largest parking operator in North America.[1]
| Industry | Artificial intelligence Parking industry |
|---|---|
| Founded | 2017 |
| Founder | Alexander Israel (CEO) Travis Kell Peter Fisher Courtney Fukuda |
| Headquarters | |
Number of employees | 20,000+ (2024) |
| Subsidiaries | SP Plus Corporation |
| Website | metropolis |
History
editThe company was founded in Venice, Los Angeles in 2017 by CEO Alexander Israel,[2] with co-founders Travis Kell, Peter Fisher and Courtney Fukuda.[3] The company uses computer vision and deep learning algorithms to recognize registered members' vehicles[4] and process payments automatically through a mobile application.[5]
In 2022, Metropolis Technologies acquired the Nashville based company Premier Parking in 2022. As part of the merger, Premier CEO Ryan Hunt joined Metropolis as chief revenue officer.[6]
In 2023, the company raised $1.8 billion in funding, led by investors Eldridge and 3L,[7] before its $1.5 billion acquisition of SP Plus Corporation.[8] The deal was completed in 2024, taking SP Plus private.[9] This merger made it the largest parking operator in North America.[10]
References
edit- ^ Sichko, Adam (May 20, 2024). "Metropolis Technologies expands Nashville 'co-headquarters' after $1.5 billion purchase of SP Plus". Nashville Business Journal.
- ^ Mazza, Sandy. "A.I.-tech firm Metropolis acquires Nashville-based Premier Parking". The Tennessean. Retrieved 2024-11-01.
- ^ "Metropolis, Eyeing Growth, Closes $1.5B Deal for Parking Company". Los Angeles Business Journal. 2024-06-17. Retrieved 2024-11-01.
- ^ Madler, Mark R. (June 27, 2022). "Metropolis Raises $167M Series B Funding". LA Business Journal.
- ^ "Metropolis CEO Alex Israel on Parking's Future - dot.LA". dot.la. Retrieved 2024-11-01.
- ^ Mazza, Sandy. "A.I.-tech firm Metropolis acquires Nashville-based Premier Parking". The Tennessean. Retrieved 2024-11-01.
- ^ Wiggers, Kyle (2023-10-05). "AI-powered parking platform Metropolis raises $1.7B to acquire SP Plus". TechCrunch. Retrieved 2024-11-01.
- ^ "Metropolis Technologies, Inc. to Acquire SP Plus Corporation for $1.5 Billion". Los Angeles Times. 2023-10-06. Retrieved 2024-11-01.
- ^ Vinn, Milana (October 5, 2023). "Parking platform Metropolis agrees to buy SP Plus for $1.5 billion". Reuters.
- ^ Sichko, Adam (May 20, 2024). "Metropolis Technologies expands Nashville 'co-headquarters' after $1.5 billion purchase of SP Plus". Nashville Business Journal.