Funding round
Metropolis Series C
Metropolis, which works in AI-Driven parking solutions in Chicago, raised $1.70B in a Series C round announced on 5 Oct 2023, led by Eldridge Capital and 3L Growth Equity. 7 firms took part. It is Metropolis' fourth venture round on record; the one before was a Series B in Jun 2022.
$1.70B
Amount raised
Not disclosed
Post-money valuation
7
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 B. It is 70% of the $2.43B Metropolis has raised in the venture rounds on record. Metropolis raised again 25 months later: a Series D round of $500M in Nov 2025, at $5.00B post-money.
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 15 Jun 2022, led by 3L Growth Equity and Assembly Ventures $167M
- Series C this round 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
Eldridge Capital and 3L Growth Equity led the round with 5 other firms.
Lead investors
- Eldridge Capital new investor
- backs 19 venture-backed companies new investor
Also in the round
- BDT & MSD Partners backs 25 venture-backed companies new investor
- Vista Equity Partners backs 43 venture-backed companies new investor
- Temasek backs 195 venture-backed companies new investor
- backs 133 venture-backed companies new investor
- backs 8 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to acquisitions.
- Acquisitions
Comparable rounds
How it compares
218 Series C rounds in Tech Companies within a year either side disclosed an amount; the median was $45M, and this round was 38 times the median. The closest in time, other companies' Series C rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Island Tech Companies | 23 Oct 2023 | $100M | $1.50B | Prysm Capital |
| Tech Companies | 10 Oct 2023 | $60M | not disclosed | March Capital |
| Tech Companies | 24 Oct 2023 | $50M | not disclosed | Decibel Partners |
| Tech Companies | 3 Oct 2023 | $41M | not disclosed | Madrona |
| Tech Companies | 17 Oct 2023 | $33M | not disclosed | Nexus Venture Partners |
| Tech Companies | 27 Oct 2023 | $31M | not disclosed | not named |
| Tech Companies | 2 Oct 2023 | $31M | not disclosed | Invus |
| Tech Companies | 17 Oct 2023 | $11M | not disclosed | Junction |
Sources
Where this comes from
Reported by 1 source. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did Metropolis raise in its Series C round?
Metropolis raised $1.70B in its Series C round, announced in Oct 2023.
Who led Metropolis' Series C round?
Eldridge Capital and 3L Growth Equity led it, with BDT & MSD Partners, Vista Equity Partners, Temasek, Slow Ventures and Assembly Ventures.
What was Metropolis' valuation at the Series C round?
It was not disclosed.
How does it compare with other Series C rounds in Tech Companies?
218 Series C rounds in Tech Companies within a year either side disclosed an amount; the median was $45M, and this round was 38 times the median.
Did Metropolis raise again after this round?
Yes: a Series D round in Nov 2025 of $500M at $5.00B post-money.