Metropolis Technologies
 Company logo | |
| 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 |
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]
Founding and key people
[edit]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] ParkMe was acquired by traffic data company Inrix in 2015.[5]
Israel has been included on Los Angeles Business Journal's "20 In Their 20s" list,[6] and the National Parking Association's "40 Under 40" list.[7] In 2024, Ernst & Young named Israel "Entrepreneur of the Year" for Los Angeles.[8]
History
[edit]The company uses computer vision and deep learning algorithms to recognize registered members' vehicles[9] and process payments automatically through a mobile application.[10]
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.[2]
In 2023, the company raised $1.8 billion in funding, led by investors Eldridge and 3L,[11] before its $1.5 billion acquisition of SP Plus Corporation.[12] The deal was completed in 2024, taking SP Plus private.[13] This merger made it the largest parking operator in North America.[1]
References
[edit]- ^ 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.
- ^ a b 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. Archived from the original on 2024-12-02. Retrieved 2024-11-01.
- ^ 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.
- ^ 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.
- ^ "Twenty in Their 20s: Sam Friedman and Alex Israel". Los Angeles Business Journal. 2013-05-12. Retrieved 2025-01-27.
- ^ "Meet NPA's 40 Under 40 - Class of 2016 - National Parking Association". weareparking.org. Archived from the original on 2022-03-30. Retrieved 2025-01-27.
- ^ "Entrepreneur Of The Year Greater Los Angeles winners and finalists". www.ey.com. Archived from the original on 2024-06-21. Retrieved 2025-01-27.
- ^ Madler, Mark R. (June 27, 2022). "Metropolis Raises $167M Series B Funding". LA Business Journal. Archived from the original on 2024-12-13.
- ^ "Metropolis CEO Alex Israel on Parking's Future - dot.LA". dot.la. Archived from the original on 2021-05-21. Retrieved 2024-11-01.
- ^ 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.
- ^ "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.
- ^ 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.