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Passport (company)

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Passport
Company typePrivate
IndustryWeb and mobile payments software
FoundedMay 2010
FounderBob Youakim
Charlie Youakim
Headquarters
Charlotte, NC
Websitewww.passportinc.com

Passport is a Charlotte, North Carolina–based curb management payment service provider and software company.[1]

Specializing in mobile payments for transportation, Passport provides an enterprise software platform for cities, transit agencies, universities, and private operators in the parking and transportation industries throughout the U.S. and Canada.[2] Passport’s primary applications include mobile payments for parking and mobile ticketing for transit operations.[3] Passport's software allows municipalities and private operators to charge users for parking without hardware payment stations.[4][5]

History

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Passport was co-founded by Khristain Gutierrez and Bob Youakim in 2010.[6][7]

Investment firm Sixth Street Growth put up the capital for Passport with a reported $90 million investment. In 2017, the company raised $43 million in Series C funding led by Bain Capital. By 2021, the company had raised nearly $200 million.[8]

In February 2023, Passport partnered with AutoReturn, a towing management systems provider that provides cities with a parking citation management system. Passport's mobility management platform allows for integration with any towing company, like Auto Return, allowing enforcement officers to quickly issue a tow through their handheld devices.[9]

Acquisitions

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The company acquired Scottdale, Arizona-based ParkX LLC in 2016.[10]

In 2018, Passport acquired NuPark, a license plate reading company.[1][11] In 2021, NuPark was sold to T2 Systems.[12]

References

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  1. ^ a b "Charlotte startup Passport acquires NuPark, a parking technology company | WRAL TechWire". wraltechwire.com. 2018-10-09. Retrieved 2024-08-12.
  2. ^ "Mayor Walsh launches ParkBoston to simplify parking". The Daily Free Press. 20 January 2015. Retrieved 16 May 2015.
  3. ^ "Peoria plans to test app that allows mobile parking payment". Journal Star (Peoria). Retrieved 16 May 2015.
  4. ^ "New app makes paid parking at Washington Park, Oregon Zoo, easier". OregonLive.com. 13 March 2015. Retrieved 16 May 2015.
  5. ^ "New app makes parking payments easier in White Plains". The Journal News. Retrieved 16 May 2015.
  6. ^ "Passport Co-Founder Khristian Gutierrez Appointed CEO to Lead Next Phase of Growth". www.parking.net. 2024-03-08. Retrieved 2024-06-20.
  7. ^ Starck, Julie (2024-02-29). "Passport Shakes Up C-suite As Charlotte Tech Company Plans For More Growth". www.parking.net. Retrieved 2024-06-20.
  8. ^ "Passport Raises Another $90M, Bringing Total Above $200M". GovTech. 2021-05-24. Retrieved 2024-07-01.
  9. ^ Grant, Anton (2023-02-10). "Passport and Autoreturn Partner to Streamline Digital Parking Enforcement". FF News | Fintech Finance. Retrieved 2024-09-11.
  10. ^ Ringle, Hayley (7 December 2016). "Scottsdale mobile parking payment startup acquired by North Carolina-based Passport". Phoenix Business Journal. Retrieved 2024-06-20.
  11. ^ "Transportation Startup Passport Acquires License Plate Reading Company NuPark". GovTech. 2018-10-09. Retrieved 2024-09-11.
  12. ^ "T2 Systems Acquires NuPark from Passport". T2 Systems. Retrieved 2024-08-12.
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