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Metropolis Technologies
American technology company From Wikipedia, the free encyclopedia
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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]
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Founding and key people
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]
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History
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]
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References
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