Funding round
Metropolis Series A
Metropolis, which works in AI-Driven parking solutions in Chicago, raised $41M in a Series A round announced on 16 Feb 2021, led by 3L Growth Equity. 8 firms took part. It is Metropolis' second venture round on record; the one before was a Seed in Jun 2019.
$41M
Amount raised
Not disclosed
Post-money valuation
8
Investors
1 lead
Valuation
What this round says about the price
Metropolis did not disclose a valuation in this round. It came 20 months after Metropolis' Seed. It is 1.7% of the $2.43B Metropolis has raised in the venture rounds on record. Metropolis raised again 16 months later: a Series B round of $167M in Jun 2022. Its next priced round, a Series D in Nov 2025, valued it at $5.00B.
Metropolis' funding rounds
Metropolis has 5 venture rounds on record and 1 other deal. This one is highlighted.
- Seed 26 Jun 2019, led by Zigg Capital $18M
- Series A this round 16 Feb 2021, led by 3L Growth Equity $41M
- Series B 15 Jun 2022, led by 3L Growth Equity and Assembly Ventures $167M
- Series C 5 Oct 2023, led by Eldridge Capital and 3L Growth Equity $1.70B
- Debt not a venture round 6 Nov 2025 $1.10B
- Series D 6 Nov 2025, led by LionTree $500M$5.00B post-money
Investors
Who put money in
3L Growth Equity led the round with 7 other firms.
Lead investor
- backs 19 venture-backed companies new investor
Also in the round
- 01A backs 53 venture-backed companies new investor
- Dragoneer Investment Group backs 82 venture-backed companies new investor
- backs 133 venture-backed companies new investor
- backs 12 venture-backed companies new investor
- RXR Realty new investor
- DivcoWest new investor
- Dan Doctoroff
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
1,580 Series A rounds in Tech Companies within a year either side disclosed an amount; the median was $11M, and this round was 3.7 times the median. The closest in time, other companies' Series A rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 3 Feb 2021 | $55M | not disclosed | Accenture Ventures |
| Tech Companies | 2 Feb 2021 | $50M | not disclosed | Andreessen Horowitz |
| Tech Companies | 12 Feb 2021 | $45M | not disclosed | Aldrich Capital Partners |
| Tech Companies | 9 Feb 2021 | $43M | not disclosed | Norwest |
| Tech Companies | 10 Feb 2021 | $40M | not disclosed | PSG |
| Tech Companies | 10 Feb 2021 | $28M | not disclosed | K1 Investment Management |
| Tech Companies | 24 Feb 2021 | $24M | not disclosed | Lightspeed Venture Partners and Balderton Capital |
| Tech Companies | 23 Feb 2021 | $21M | not disclosed | Andreessen Horowitz |
Sources
Where this comes from
Reported by 2 sources.
Questions
Frequently asked
How much did Metropolis raise in its Series A round?
Metropolis raised $41M in its Series A round, announced in Feb 2021.
Who led Metropolis' Series A round?
3L Growth Equity led it, with 01A, Dragoneer Investment Group, Slow Ventures, Starwood Capital and RXR Realty and 2 more.
What was Metropolis' valuation at the Series A round?
It was not disclosed.
How does it compare with other Series A rounds in Tech Companies?
1,580 Series A rounds in Tech Companies within a year either side disclosed an amount; the median was $11M, and this round was 3.7 times the median.
Did Metropolis raise again after this round?
Yes: a Series B round in Jun 2022 of $167M.