Mobility commerce platform Metropolis Technologies raises $167 million in its recently held series B funding round led by 3L Capital and Assembly Ventures.
Several other investors, including Dragoneer Investment Group, Eldridge, Silver Lake Waterman, and UP Partners, also participated in the company’s latest funding round.
Metropolis has witnessed 28x user growth and is currently active in over sixty cities even after facing the difficulties that the COVID-19 pandemic brought.
The company enables drive-in and drive-out payment for millions, runs over 600 parking lots and garages, and collaborates with thousands of grocery stores, coffee shops, and other neighborhood retailers.
Co-founder and CEO of Metropolis Technologies, Alex Israel, said, “By bringing urban mobility infrastructure online, we are knitting disconnected parts of the everyday journey into a remarkable experience.”
He further added that the seamless transactions that they take for granted in eCommerce are mostly absent in real life, but Metropolis’ computer vision technology is changing that one commute, one-morning coffee, and one supermarket run at a time.
United States-based artificial intelligence and computer vision startup Metropolis was founded by Alexander Israel, Courtney Fukuda, Peter Fisher, and Travis Kell in 2017. The company specializes in developing technologies to modernize parking and empower the future of mobility. Metropolis’s platform also connects users to local business specials and discounts, generating new economic prospects for thousands of local companies.
The parking activity data collected by Metropolis can be used to assist users in finding parking spots faster—a potentially important service in a car-centric metropolis like Los Angeles. To date, Metropolis has raised $228 million from multiple investors over three funding rounds.