Metropolis Technologies, a U.S.-based operator of smart parking systems that leverages artificial intelligence and computer vision to recognize vehicles and automate payments, has raised $1.6 billion in fresh capital to accelerate its expansion beyond parking into retail, restaurants, hotels, and gas stations.
The new funding includes a $500 million Series D equity round led by investment advisory firm LionTree, valuing Metropolis at $5 billion. Other major backers include Eldridge Industries, Vista Equity Partners, BDT & MSD Partners, and the SoftBank Vision Fund. Alongside the equity financing, Metropolis secured a $1.1 billion syndicated term loan led by J.P. Morgan, collateralized by cash flows from its profitable parking operations.
The Los Angeles-based company, founded in 2017, has grown from an AI startup to one of the largest operators of parking infrastructure in the United States. Its technology uses advanced cameras, sensors, and license plate recognition to enable drivers who have opted into its network to enter, park, and exit without stopping to pay. The system automatically charges users through a linked account, removing the need for tickets, kiosks, or human attendants.
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Chief Executive Alex Israel said the new funding will help Metropolis build the next phase of what he calls the “Recognition Economy” — a seamless digital payments environment where identity replaces manual transactions. This comes under the company’s vision to create a world where a customer’s presence — not their wallet or phone — completes the transaction.
Expansion Beyond Parking
Metropolis plans to channel the fresh capital toward hiring more technical talent, advancing its AI and vision software, and integrating its payment automation technology into other sectors. Israel said the company is already developing systems for drive-through restaurants, fueling stations, and hotels, where vehicles or customers could be recognized instantly upon arrival and charged automatically for services.
The company also aims to monetize its software through enterprise partnerships, offering subscription-based access to its recognition and payment systems for businesses.
Metropolis has struck partnerships with major real estate operators and retail brands to embed its “intelligent infrastructure layer” into their facilities. This layer uses data analytics and AI models to streamline customer flow, predict occupancy, and enhance payment efficiency — effectively turning physical locations into smart, automated environments.
Strategic Growth Through Acquisitions
Metropolis has scaled rapidly by acquiring established players in parking and vision analytics. Its 2024 acquisition of SP+ Corporation, one of North America’s largest parking management companies, was valued at $1.5 billion and gave Metropolis access to more than 4,200 parking locations across 40 countries. The company now processes roughly $5 billion in annual transaction volume from 50 million customers.
Earlier in 2025, Metropolis expanded its AI capabilities by acquiring Oosto, a SoftBank-backed biometrics and vision analytics firm, for about $125 million. The acquisition has allowed Metropolis to deepen its use of facial and behavioral recognition tools, enhancing security and automation accuracy.
According to financial filings and investor statements, Metropolis has achieved profitability, a milestone that sets it apart from many high-growth AI startups still burning cash. The company’s recurring revenues from parking and payment subscriptions have provided a solid foundation for its broader ambitions.
However, Metropolis’ push into retail and hospitality comes at a time when automation and frictionless payment technologies are drawing mixed results across industries. Amazon, which pioneered the “Just Walk Out” checkout-free shopping concept, recently scaled back the feature in its Fresh grocery stores, citing high operational costs and complex maintenance requirements. However, Amazon continues to license the technology to third-party retailers.
Israel believes Metropolis’ model differs in its focus on infrastructure rather than retail ownership.
It is believed that the company’s strategy of combining physical infrastructure ownership with software-as-a-service (SaaS) revenue could prove lucrative.
Building the “Recognition Economy”
Metropolis’ broader ambition is to create what it calls a “Recognition Economy,” where transactions across daily life — from parking to fueling to shopping — occur automatically based on verified identity and consent. The company envisions its system as a backbone for a future in which every vehicle or individual can move through the world with seamless, secure payment interactions powered by AI.
As part of this mission, Metropolis has been investing in data privacy and security features to ensure transparency in how biometric and visual data are used. Company officials say all recognition systems operate on an opt-in basis, with strict compliance to U.S. and international data protection standards.
With $1.6 billion in new funding and momentum across its core markets, Metropolis is positioning itself not just as a parking operator but as a foundational layer of smart urban infrastructure. The company’s blend of AI, automation, and real-world assets has drawn comparisons to how Tesla integrated energy and mobility — but in Metropolis’ case, the focus is on the physical world of payments and access.