diff --git a/metaphor/looker/extractor.py b/metaphor/looker/extractor.py
index ca2d2604..7272e376 100644
--- a/metaphor/looker/extractor.py
+++ b/metaphor/looker/extractor.py
@@ -1,5 +1,5 @@
 import os
-from typing import Collection, Dict, Iterable, Iterator, List, Sequence, Set, Tuple
+from typing import Collection, Dict, Iterable, List, Sequence, Set, Tuple
 
 from metaphor.common.git import clone_repo
 from metaphor.models.crawler_run_metadata import Platform
@@ -29,9 +29,6 @@
     DashboardPlatform,
     EntityUpstream,
     Hierarchy,
-    HierarchyInfo,
-    HierarchyLogicalID,
-    HierarchyType,
     SourceInfo,
     SystemContact,
     SystemContacts,
@@ -81,6 +78,7 @@ def __init__(self, config: LookerRunConfig) -> None:
         self._project_source_url = config.project_source_url
         self._include_personal_folders = config.include_personal_folders
         self._explore_view_folder_name = config.explore_view_folder_name
+        self._folders: Dict[str, Hierarchy] = {}
 
         # Load config using environment variables instead from looker.ini file
         # See https://github.com/looker-open-source/sdk-codegen#environment-variable-configuration
@@ -121,7 +119,7 @@ async def extract(self) -> Collection[ENTITY_TYPES]:
         entities: List[ENTITY_TYPES] = []
         entities.extend(dashboards)
         entities.extend(virtual_views)
-        entities.extend(self.build_hierarchy(folder_map))
+        entities.extend(self._folders.values())
         return entities
 
     def _fetch_folders(self) -> FolderMap:
@@ -237,7 +235,9 @@ def _fetch_dashboards(
                     structure=(
                         AssetStructure(
                             directories=build_directories(
-                                dashboard.folder.id, folder_map
+                                dashboard.folder.id,
+                                folder_map,
+                                self._folders,
                             ),
                             name=dashboard.title,
                         )
@@ -320,17 +320,3 @@ def _extract_charts(
                 source_entities=list(explore_ids),
             ),
         )
-
-    def build_hierarchy(
-        self, folder_map: Dict[str, FolderMetadata]
-    ) -> Iterator[Hierarchy]:
-        for folder in folder_map.values():
-            yield Hierarchy(
-                logical_id=HierarchyLogicalID(
-                    path=[DashboardPlatform.LOOKER.value]
-                    + build_directories(folder.id, folder_map)
-                ),
-                hierarchy_info=HierarchyInfo(
-                    type=HierarchyType.LOOKER_FOLDER, name=folder.name
-                ),
-            )
diff --git a/metaphor/looker/folder.py b/metaphor/looker/folder.py
index cfe86a61..09d9064a 100644
--- a/metaphor/looker/folder.py
+++ b/metaphor/looker/folder.py
@@ -2,6 +2,13 @@
 from typing import Dict, List, Optional
 
 from metaphor.common.logger import get_logger
+from metaphor.models.metadata_change_event import (
+    DashboardPlatform,
+    Hierarchy,
+    HierarchyInfo,
+    HierarchyLogicalID,
+    HierarchyType,
+)
 
 
 @dataclass
@@ -16,7 +23,11 @@ class FolderMetadata:
 logger = get_logger()
 
 
-def build_directories(folder_id: str, folder_map: FolderMap) -> List[str]:
+def build_directories(
+    folder_id: str,
+    folder_map: FolderMap,
+    folder_hierarchies: Dict[str, Hierarchy],
+) -> List[str]:
     directories: List[str] = []
 
     while True:
@@ -28,6 +39,32 @@ def build_directories(folder_id: str, folder_map: FolderMap) -> List[str]:
         directories.insert(0, folder.id)
 
         if folder.parent_id is None:
-            return directories
+            break
 
         folder_id = folder.parent_id
+
+    _build_hierarchies(directories, folder_map, folder_hierarchies)
+
+    return directories
+
+
+def _build_hierarchies(
+    directories: List[str],
+    folder_map: FolderMap,
+    folder_hierarchies: Dict[str, Hierarchy],
+):
+    for i, folder_id in enumerate(directories):
+        folder = folder_map.get(folder_id)
+        if folder_id in folder_hierarchies or folder is None:
+            continue
+
+        hierarchy = Hierarchy(
+            logical_id=HierarchyLogicalID(
+                path=[DashboardPlatform.LOOKER.value] + directories[: i + 1]
+            ),
+            hierarchy_info=HierarchyInfo(
+                type=HierarchyType.LOOKER_FOLDER, name=folder.name
+            ),
+        )
+
+        folder_hierarchies[folder_id] = hierarchy
diff --git a/pyproject.toml b/pyproject.toml
index 8d8f0846..9a4cc861 100644
--- a/pyproject.toml
+++ b/pyproject.toml
@@ -1,6 +1,6 @@
 [tool.poetry]
 name = "metaphor-connectors"
-version = "0.14.75"
+version = "0.14.76"
 license = "Apache-2.0"
 description = "A collection of Python-based 'connectors' that extract metadata from various sources to ingest into the Metaphor app."
 authors = ["Metaphor <dev@metaphor.io>"]
diff --git a/tests/looker/test_folder.py b/tests/looker/test_folder.py
index ef94c848..625049b5 100644
--- a/tests/looker/test_folder.py
+++ b/tests/looker/test_folder.py
@@ -1,4 +1,4 @@
-from metaphor.looker.folder import FolderMetadata, build_directories
+from metaphor.looker.folder import FolderMetadata, _build_hierarchies, build_directories
 
 
 def test_build_directories(test_root_dir) -> None:
@@ -9,6 +9,32 @@ def test_build_directories(test_root_dir) -> None:
         "3": FolderMetadata(id="3", name="folder3", parent_id="2"),
     }
 
-    assert build_directories("1", folder_map) == ["1"]
-    assert build_directories("2", folder_map) == ["1", "2"]
-    assert build_directories("3", folder_map) == ["1", "2", "3"]
+    folder_hierarchies: dict = {}
+
+    assert build_directories("1", folder_map, folder_hierarchies) == ["1"]
+    assert build_directories("2", folder_map, folder_hierarchies) == ["1", "2"]
+    assert build_directories("3", folder_map, folder_hierarchies) == ["1", "2", "3"]
+    assert len(folder_hierarchies) == 3
+
+
+def test_build_hierarchy(test_root_dir) -> None:
+
+    folder_map = {
+        "1": FolderMetadata(id="1", name="folder1", parent_id=None),
+        "2": FolderMetadata(id="2", name="folder2", parent_id="1"),
+        "3": FolderMetadata(id="3", name="folder3", parent_id="2"),
+    }
+
+    folders: dict = {}
+
+    _build_hierarchies(["1", "2", "3"], folder_map, folders)
+    assert len(folders) == 3
+    assert folders["1"].hierarchy_info.name == "folder1"
+    assert folders["1"].logical_id.path == ["LOOKER", "1"]
+    assert folders["2"].hierarchy_info.name == "folder2"
+    assert folders["2"].logical_id.path == ["LOOKER", "1", "2"]
+    assert folders["3"].hierarchy_info.name == "folder3"
+    assert folders["3"].logical_id.path == ["LOOKER", "1", "2", "3"]
+
+    _build_hierarchies(["4"], folder_map, folders)
+    assert len(folders) == 3