Metropolis Technologies

Metropolis Technologies
IndustryArtificial intelligence
Parking industry
Founded2017 (2017)
FounderAlexander Israel (CEO)
Travis Kell
Peter Fisher
Courtney Fukuda
Headquarters
Santa Monica
Number of employees
20,000+ (2024)
SubsidiariesSP Plus Corporation
Websitemetropolis.io

Metropolis Technologies is an American technology company headquartered in Santa Monica, California. It is the largest parking operator in North America.[1]

Founding and key people

The 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] In 2009, Israel co-founded and served as chief operating officer of ParkMe, a digital parking platform with a real-time database of parking information.[4] In 2015, ParkMe was acquired by Inrix, a traffic data company that spun off from Microsoft Research.[5]

History

The company uses computer vision and deep learning algorithms to recognize registered members[6] and process payments automatically through a mobile application.[7] The company has headquarters in Santa Monica, Nashville, Tennessee, New York City,[8] Seattle, and Chicago.[9]

In 2022, Metropolis Technologies acquired the Nashville-based company Premier Parking in 2022.[2]

In 2023, the company raised $1.8 billion in funding, led by investors Eldridge and 3L,[10] before its $1.5 billion acquisition of SP Plus Corporation.[11] The deal was completed in 2024, taking SP Plus private under a growth buyout.[12] This merger made it the largest parking operator in North America.[1] In 2025, Metropolis Technologies acquired Oosto (previously named AnyVision), which develops biometric technologies used in data centers, healthcare, and consumer products.[13]

In June 2025, Lookman Olusanya became chief financial officer. He had previously been CFO of Square, and held financial roles at Google Cloud and Amazon Web Services. At the time, the company was reportedly approaching a $5 billion valuation.[14]

As of 2025, the company processes approximately $5 billion in payments from 20 million customers annually, representing almost 10% of licensed drivers in the United States. That year, it raised $1.6 billion in Series D funding led by Aryeh Bourkoff’s LionTree to expand its computer vision platform into new industries, including quick-service restaurants, fueling, hospitality and retail.[15] The company's platform uses artificial intelligence and computer vision technology to recognize users and enable contactless transactions without the need for traditional digital payments, apps or credit cards, in what CEO Alex Israel described as the "recognition economy".[16]

The company operates checkout-free parking, baggage and mobility services at over 75 airports throughout the United States.[17]

The company was included in CNBC's 2025 Disruptor 50 list.[15]

References

  1. ^ a b Sichko, Adam (May 20, 2024). "Metropolis Technologies expands Nashville 'co-headquarters' after $1.5 billion purchase of SP Plus". Nashville Business Journal. Archived from the original on 2024-09-19.
  2. ^ a b Mazza, Sandy. "A.I.-tech firm Metropolis acquires Nashville-based Premier Parking". The Tennessean. Retrieved 2024-11-01.
  3. ^ "Metropolis, Eyeing Growth, Closes $1.5B Deal for Parking Company". Los Angeles Business Journal. 2024-06-17. Archived from the original on 2024-12-02. Retrieved 2024-11-01.
  4. ^ Mitroff, Sarah. "Solving Parking Woes, One App at a Time". Wired. ISSN 1059-1028. Archived from the original on 2024-12-09. Retrieved 2025-01-27.
  5. ^ Lunden, Ingrid (2015-09-09). "Inrix Buys ParkMe To Add Smart Parking Services To Its Real Time Traffic Data". TechCrunch. Archived from the original on 2015-09-10. Retrieved 2025-01-27.
  6. ^ Madler, Mark R. (June 27, 2022). "Metropolis Raises $167M Series B Funding". LA Business Journal. Archived from the original on 2024-12-13.
  7. ^ "Metropolis CEO Alex Israel on Parking's Future - dot.LA". dot.la. Archived from the original on 2021-05-21. Retrieved 2024-11-01.
  8. ^ "'It's the center of the universe': Metropolis Technologies opens new downtown headquarters". Nashville Business Journal. 2024-11-07. Retrieved 2026-02-21.
  9. ^ "AI Platform Metropolis Closes $41M in Funding to Expand Parking Tech". Commercial Observer. 2021-02-17. Retrieved 2026-02-21.
  10. ^ Wiggers, Kyle (2023-10-05). "AI-powered parking platform Metropolis raises $1.7B to acquire SP Plus". TechCrunch. Archived from the original on 2025-02-11. Retrieved 2024-11-01.
  11. ^ "Metropolis Technologies, Inc. to Acquire SP Plus Corporation for $1.5 Billion". Los Angeles Times. 2023-10-06. Archived from the original on 2024-09-18. Retrieved 2024-11-01.
  12. ^ Vinn, Milana (October 5, 2023). "Parking platform Metropolis agrees to buy SP Plus for $1.5 billion". Reuters. Archived from the original on 2024-12-02.
  13. ^ Lunden, Ingrid (2025-01-20). "Confirmed: AI vision startup Metropolis acquires Oosto (formerly known as AnyVision) for just $125M". TechCrunch. Retrieved 2026-02-23.
  14. ^ Estrada, Sheryl. "Exclusive: Metropolis appoints new CFO as AI company nears $5 billion valuation". Fortune. Retrieved 2025-08-04.
  15. ^ a b Rosenbaum, Eric (2025-11-06). "AI startup Metropolis, biggest parking lot network in U.S., raises $1.6 billion for major retail expansion". CNBC. Retrieved 2026-02-21.
  16. ^ "AI parking giant Metropolis lands $1.6B in funding to power 'recognition economy' push". L.A. Business First. 2025-11-06. Retrieved 2026-02-23.
  17. ^ NPJ (2025-12-23). "AEX announces partnership with Metropolis for parking services". Rapides Parish Journal. Retrieved 2026-02-23.
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