Funding round
Metropolis Series B
Metropolis, which works in AI-Driven parking solutions in Chicago, raised $167M in a Series B round announced on 15 Jun 2022, led by 3L Growth Equity and Assembly Ventures. 15 firms took part. It is Metropolis' third venture round on record; the one before was a Series A in Feb 2021.
$167M
Amount raised
Not disclosed
Post-money valuation
15
Investors
2 leads
Valuation
What this round says about the price
Metropolis did not disclose a valuation in this round. It came 16 months after Metropolis' Series A. It is 6.9% of the $2.43B Metropolis has raised in the venture rounds on record. Metropolis raised again 16 months later: a Series C round of $1.70B in Oct 2023. 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 16 Feb 2021, led by 3L Growth Equity $41M
- Series B this round 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 and Assembly Ventures led the round with 13 other firms.
Lead investors
- backs 19 venture-backed companies new investor
- backs 8 venture-backed companies new investor
Also in the round
- Dragoneer Investment Group backs 82 venture-backed companies new investor
- Eldridge new investor
- Silver Lake Waterman new investor
- backs 24 venture-backed companies new investor
- DivcoWest new investor
- Moving Capital new investor
- RXR Realty new investor
- backs 33 venture-backed companies new investor
- Benenson Capital new investor
- backs 2 venture-backed companies new investor
- backs 29 venture-backed companies new investor
- backs 23 venture-backed companies new investor
- backs 133 venture-backed companies new investor
Joined the board: Chris Thomas (Assembly Ventures).
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, acquisitions and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Acquisitions
- Working capital
Comparable rounds
How it compares
979 Series B rounds in Tech Companies within a year either side disclosed an amount; the median was $30M, and this round was 5.6 times the median. The closest in time, other companies' Series B rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Vanta Tech Companies | 8 Jun 2022 | $110M | $1.60B | Craft Ventures |
| Tech Companies | 21 Jun 2022 | $100M | not disclosed | not named |
| Tech Companies | 7 Jun 2022 | $80M | not disclosed | Bellis Phantom Holdco |
| Tech Companies | 1 Jun 2022 | $80M | not disclosed | Greenoaks |
| Tech Companies | 28 Jun 2022 | $62M | not disclosed | Susquehanna Growth Equity |
| Tech Companies | 28 Jun 2022 | $60M | not disclosed | National Grid Partners |
| Tech Companies | 30 Jun 2022 | $60M | not disclosed | BOND |
| Tech Companies | 9 Jun 2022 | $57M | not disclosed | Insight Partners and Canapi Ventures |
Sources
Where this comes from
Reported by 5 sources.
Questions
Frequently asked
How much did Metropolis raise in its Series B round?
Metropolis raised $167M in its Series B round, announced in Jun 2022.
Who led Metropolis' Series B round?
3L Growth Equity and Assembly Ventures led it, with Dragoneer Investment Group, Eldridge, Silver Lake Waterman, UP Partners and DivcoWest and 8 more.
What was Metropolis' valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Tech Companies?
979 Series B rounds in Tech Companies within a year either side disclosed an amount; the median was $30M, and this round was 5.6 times the median.
Did Metropolis raise again after this round?
Yes: a Series C round in Oct 2023 of $1.70B.