Founders: Alex Israel (CEO), Peter Fisher, Courtney Fukuda, Travis Kell
Launched: 2017
Headquarters: Santa Monica, California
Funding: $3 billion
Valuation: $5 billion
Key Technologies: Artificial intelligence, cloud computing, machine learning
Industry: Fintech
Previous appearances on Disruptor 50 list: 1 (No. 13 in 2025)
Metropolis, the Los Angeles-based startup that aims to turn parking into a checkout-free experience, is expanding far beyond the garage. The company is betting that the same technology can underpin a much larger shift, one where being recognized replaces the act of paying.
"Metropolis is an artificial intelligence company for the real world," Metropolis chief integration officer and co-founder said at CNBC AI Summit in November of last year. "We fundamentally believe it should be just as easy to navigate the physical world as it is the digital one."
The company believes its greatest potential lies in what it calls the "recognition economy," where artificial intelligence can identify customers for automated transactions. Eliminating the need for phones, tickets and credit cards, people can simply move as they ordinarily would without stopping to pay and save time as well as the hassle.
Thanks to an infusion of $1.6 billion in debt and equity in November of last year, led by a fund managed by existing investor LionTree, Metropolis is gearing up for a major expansion across the retail sector, including entering gas stations and convenience stores, quick-service restaurant drive-thru windows, and car washes. The company, which is now valued at $5 billion, is also keen to license its technology to hotels and office buildings. It has developed key real estate partners, including CBRE, Cushman & Wakefield and Brookfield.
Currently, Metropolis operates at more than 4,200 locations across 40 countries, and processes over $5 billion in annual payments. It now reaches more than 26 million members, adding around 1 million new users each month. Within its original parking lot focus, Metropolis has expanded its footprint to more than 75 airports, offering mobility and baggage-related services alongside its core parking technology.
Last December, Metropolis also announced a partnership with Joby Aviation to help develop a network of 25 vertiports for electric air taxis. Joby hopes to tap into Metropolis' extensive parking infrastructure to create takeoff and landing sites.
The company faces stiff competition from existing parking operators like LAZ Parking and Flash, as well as other biometric identity and payment systems, like Amazon Go and Clear. Time will tell if its technology can truly scale and usher in the wider adoption of these hassle-free systems.
Sign up for our weekly, original newsletter that goes beyond the annual Disruptor 50 list, offering a closer look at the most promising venture-backed companies.
