Jump to content

Passport (company)

From Wikipedia, the free encyclopedia
Passport
Company typePrivate
IndustryWeb and mobile payments software
FoundedMay 2010
FounderBob Youakim
Charlie Youakim
Headquarters
Websitewww.passportinc.com

Passport is a United States-based payment service provider headquartered in Wilmington, Delaware with offices in Charlotte, North Carolina.[1]

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][6]

History

[edit]

Passport was co-founded by Khristain Gutierrez and Bob Youakim in 2010.[7][8]

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.[9]

Acquisitions

[edit]

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

References

[edit]
  1. ^ "New city app lets you remotely feed the meter". Arizona Daily Star. 14 January 2015. Retrieved 16 May 2015.
  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. ^ "Portland Parks & Recreation's Washington Park Introduces New, Free Pay-by-Phone Parking App, Passport". blog.parknews.biz. 12 March 2015. Retrieved 16 May 2015.
  7. ^ "Passport Co-Founder Khristian Gutierrez Appointed CEO to Lead Next Phase of Growth". www.parking.net. 2024-03-08. Retrieved 2024-06-20.
  8. ^ 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.
  9. ^ "Passport Raises Another $90M, Bringing Total Above $200M". GovTech. 2021-05-24. Retrieved 2024-07-01.
  10. ^ Ringle, Hayley (7 December 2016). "Scottsdale mobile parking payment startup acquired by North Carolina-based Passport". Phoenix Business Journal. Retrieved 2024-06-20.