Metropolis, a technology company focused on artificial intelligence (AI), has unveiled insights into how cities can adopt real-world AI, particularly emphasizing its approach to frictionless and checkout-free parking.
According to Wired, Metropolis views parking as a significant urban challenge that consumes valuable street and real estate capacity, contributes to congestion, and frustrates both residents and visitors. The company's "real-world AI" initiative highlights private-sector deployment in complex, analog environments—beginning with parking—to achieve visible improvements without the need for new public spending or lengthy procurement processes. This strategy aligns with ongoing research suggesting that smarter parking supply, pricing, and data management can reduce traffic congestion in densely populated areas. It positions Metropolis as a market-driven solution to a commonly disliked problem.
SP Plus reports that Metropolis's growth accelerated following its 2024 acquisition of SP Plus. The company now operates the largest parking network in North America, managing over 4,000 locations with nearly 20,000 employees. Management indicates that its platform will reach 50 million consumers and process over $4 billion in payments annually. These figures demonstrate the practical application of AI infrastructure beyond pilot-scale demonstrations and highlight why parking is an ideal entry point for AI applications that can be extended to other drive-in/drive-out scenarios across private real estate.
Metropolis has detailed the financing structure for the SP Plus deal, totaling $1.8 billion—a combination of $1.05 billion Series C preferred stock and $550 million term debt plus a $175 million revolving credit facility—led by Eldridge with participation from BDT & MSD Partners’ affiliated credit funds, Vista Credit Partners, Temasek, among others. Existing backer 3L also participated. In previous funding rounds, Metropolis raised $167 million (Series B) co-led by 3L and Assembly Ventures with Dragoneer, Eldridge, Silver Lake Waterman, and UP Partners.
Recognition of Metropolis's efforts has followed its focus on execution: CNBC named it to the 2025 Disruptor 50 list while Forbes recognized it among top startup employers. LA Business Journal’s LA500 profile further indicates momentum that could lead to future capital access and partnership opportunities for city-scale rollouts.
Endorsements have emphasized execution over hype. In an interview on LegendsNLeaders, the host described Metropolis as "real-world AI" and noted there are few companies as advanced in practical AI applications as Metropolis. The host praised their achievements in improving the parking experience significantly.
Metropolis is based in Los Angeles and was founded in 2017 by Alex Israel. The company develops AI-powered computer vision systems enabling "checkout-free" parking transactions where drivers can enter and exit facilities without tickets or cashiers. Its platform utilizes cameras and machine learning to identify vehicles, link them to user accounts, and process payments automatically.