AI-powered parking platform Metropolis bags $167M – TechCrunch

Metropolis, a startup building payment infrastructure for parking facilities, today announced that it raised $167 million in a Series B round co-led by 3L Capital and Assembly Ventures with participation from Dragoneer, Eldridge Industries, Silver Lake Waterman, UP Partners and former deputy mayor of New York Dan Doctoroff. CEO Alex Israel told TechCrunch via email that the proceeds will be put toward product development, expanding the company's team and expanding into "new mobility adjacent verticals." Israel contends that parking payment infrastructure is outdated on the whole. Parking garages are stuck in the pre-internet age, he asserts -- disconnected from the digital payments ecosystem (e.g., schemes like Apple Pay and Google Pay). Meanwhile, FlashParking, Passport, AirGarage and REEF Technology (formerly ParkJockey) have raised hundreds of millions from SoftBank and others for tech-forward parking management.