{"id":173557,"date":"2023-10-05T15:39:06","date_gmt":"2023-10-05T20:39:06","guid":{"rendered":"https:\/\/lifeboat.com\/blog\/2023\/10\/ai-powered-parking-platform-metropolis-raises-1-7b-to-acquire-sp-plus"},"modified":"2023-10-05T15:39:06","modified_gmt":"2023-10-05T20:39:06","slug":"ai-powered-parking-platform-metropolis-raises-1-7b-to-acquire-sp-plus","status":"publish","type":"post","link":"https:\/\/lifeboat.com\/blog\/2023\/10\/ai-powered-parking-platform-metropolis-raises-1-7b-to-acquire-sp-plus","title":{"rendered":"AI-powered parking platform Metropolis raises $1.7B to acquire SP Plus"},"content":{"rendered":"<p><a class=\"aligncenter blog-photo\" href=\"https:\/\/lifeboat.com\/blog.images\/ai-powered-parking-platform-metropolis-raises-1-7b-to-acquire-sp-plus2.jpg\"><\/a><\/p>\n<p>AI-powered parking platform Metropolis today <a href=\"https:\/\/www.businesswire.com\/news\/home\/20231005410733\/en\/Metropolis-Technologies-Inc.-to-Acquire-SP-Plus-Corporation-for-1.5-Billion\" target=\"_blank\" rel=\"noopener\">announced<\/a> that it raised $1.7 billion to acquire SP Plus, a provider of parking facility management services, in a combination of equity and debt.<\/p>\n<p>Eldridge Capital and 3L Capital co-led the tranche with participation from BDT &amp; MSD Partners\u2019 affiliated credit funds, Vista Credit Partners, Temasek, Slow Ventures and Assembly Ventures. As a part of the financing, Metropolis will take on $650 million in loans and $1.05 billion in Series C preferred stock financing.<\/p>\n<p>Metropolis will pay roughly $1.5 billion for SP Plus \u201cwhile retaining significant capital on its balance sheet,\u201d Metropolis co-founder and CEO Alex Israel said in a press release. Prior to the latest fundraise, Metropolis had raised $226 million in total.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>AI-powered parking platform Metropolis today announced that it raised $1.7 billion to acquire SP Plus, a provider of parking facility management services, in a combination of equity and debt. Eldridge Capital and 3L Capital co-led the tranche with participation from BDT &amp; MSD Partners\u2019 affiliated credit funds, Vista Credit Partners, Temasek, Slow Ventures and Assembly [\u2026]<\/p>\n","protected":false},"author":578,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[],"class_list":["post-173557","post","type-post","status-publish","format-standard","hentry","category-futurism"],"_links":{"self":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts\/173557","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/users\/578"}],"replies":[{"embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/comments?post=173557"}],"version-history":[{"count":0,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts\/173557\/revisions"}],"wp:attachment":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/media?parent=173557"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/categories?post=173557"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/tags?post=173557"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}