Passport (company) explained

Passport
Type:Private
Founded:May 2010
Founder:Bob Youakim
Charlie Youakim
Hq Location City:Charlotte, NC
Industry:Web and mobile payments software

Passport is a Charlotte, North Carolina-based curb management payment service provider and software company.

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.[1] Passport’s primary applications include mobile payments for parking and mobile ticketing for transit operations.[2] Passport's software allows municipalities and private operators to charge users for parking without hardware payment stations.[3] [4] [5]

History

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]

Acquisitions

The company acquired Scottdale, Arizona-based ParkX LLC in 2016.[9]

In 2018, Passport acquired NuPark, a license plate reading company.[10] In 2021, NuPark was sold to T2 Systems.[11]

Notes and References

  1. Web site: Mayor Walsh launches ParkBoston to simplify parking. 20 January 2015 . The Daily Free Press. 16 May 2015.
  2. Web site: Peoria plans to test app that allows mobile parking payment. Journal Star (Peoria). 16 May 2015.
  3. Web site: New app makes paid parking at Washington Park, Oregon Zoo, easier. 13 March 2015 . OregonLive.com. 16 May 2015.
  4. Web site: New app makes parking payments easier in White Plains. The Journal News. 16 May 2015.
  5. Web site: Portland Parks & Recreation's Washington Park Introduces New, Free Pay-by-Phone Parking App, Passport. 12 March 2015 . blog.parknews.biz. 16 May 2015.
  6. Web site: 2024-03-08 . Passport Co-Founder Khristian Gutierrez Appointed CEO to Lead Next Phase of Growth . 2024-06-20 . www.parking.net . en.
  7. Web site: Starck . Julie . 2024-02-29 . Passport Shakes Up C-suite As Charlotte Tech Company Plans For More Growth . 2024-06-20 . www.parking.net . en.
  8. Web site: 2021-05-24 . Passport Raises Another $90M, Bringing Total Above $200M . 2024-07-01 . GovTech . en.
  9. Web site: Ringle . Hayley . 7 December 2016 . Scottsdale mobile parking payment startup acquired by North Carolina-based Passport . 2024-06-20 . Phoenix Business Journal.
  10. Web site: 2018-10-09 . Charlotte startup Passport acquires NuPark, a parking technology company WRAL TechWire . 2024-08-12 . wraltechwire.com . en-US.
  11. Web site: T2 Systems Acquires NuPark from Passport . 2024-08-12 . T2 Systems . en-US.

This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia article "Passport (company)".

Except where otherwise indicated, Everything.Explained.Today is © Copyright 2009-2024, A B Cryer, All Rights Reserved. Cookie policy.