Passport Labs, Inc.
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Passport Labs, Inc. - overview
Established
2010
Location
Charlotte, NC, US
Primary Industry
Software
About
Based in North Carolina, US, and founded in 2010, Passport Labs, Inc. provides cloud-based parking payment solutions. Passport Labs, Inc. was founded by Bob Youakim and Charlie Youakim.
In May 2021, Passport Labs, Inc. raised USD 90 million in growth capital funding led by new investor Sixth Street Growth and as of 2021, the company’s CEO is David Evans. The company's services are used in more than 1,000 cities, universities, and agencies, including Chicago, Toronto, Los Angeles, and Miami. The company is backed by a group of investors, including Bain Capital Ventures, Grotech Ventures, MK Capital, and Relevance Capital.
Passport Labs, Inc. provides an end-to-end operating system, Passport Operating System, for cities, universities, municipalities, and private organizations to manage mobile pay parking. The company also performs parking enforcement services with real-time data, issues digital permits, and controls micro-mobility (scooter and dockless bike) operations on their curb space. The Passport Operating System also offers a mobile application called Passport Parking.
Passport Labs Inc. recently secured $90 million in funding and intends to use the funds to expand operations. The company also plans to further improve the digital platform infrastructure.
Current Investors
Grotech Ventures, MK Capital, Relevance Ventures
Primary Industry
Software
Sub Industries
e-Financial, Web Applications, Software
Website
www.passportinc.com
Verticals
Cloud Computing, Cloud Computing, FinTech, Mobile Apps
Company Stage
Growth Stage/Expansion
Total Amount Raised
Subscriber access only
Passport Labs, Inc. - deals
| Deals Type | Deal Status | Target (s) | Deal Date | Investor(s) | Seller(s) | Deal size (Mn) | Enterprise value (Mn) | Post-money valuation (Mn) | EBITDA multiple (x) | Revenue multiple (x) | Lead partner (s) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Trade Sale | Completed | Complus Data Innovations, Inc | - |
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Passport Labs, Inc. - employee data
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