About Bestpass
Bestpass is a company based in Albany (United States) founded in 2001.. Bestpass has raised $119.12 million across 3 funding rounds from investors including Sixth Street Specialty Lending, Insight Partners and Susquehanna Growth Equity. Bestpass has completed 3 acquisitions, including Drivewyze, ExpressTruckTax and Fleetworthy Solutions. Bestpass offers products and services including Toll Management Platform and Transponder Coverage. Bestpass operates in a competitive market with competitors including Relay Payments, tapNpay, Peach Pass, GoToll and NextPass, among others.
- Headquarter Albany, United States
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Sectors
Transportation, Automotive & LogisticsFinancial Services
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Phone
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Website
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Social
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$119.12 M (USD)
in 3 rounds
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Latest Funding Round
$100 M (USD), Private Equity Round
Jun 06, 2023
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Investors
Sixth Street Specialty Lending
& 2 more
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Employee Count
Employee Count
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Investments & Acquisitions
Drivewyze
& 2 more
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Products & Services of Bestpass
Bestpass offers a comprehensive portfolio of products and services, including Toll Management Platform and Transponder Coverage. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Platform for consolidating toll payments and data for fleets.
Provides toll road devices and regional coverage for vehicles.
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Funding Insights of Bestpass
Bestpass has successfully raised a total of $119.12M across 3 strategic funding rounds. The most recent funding activity was a Private Equity Round round of $100 million completed in June 2023. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 3
- Last Round Private Equity Round — $100.0M
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First Round
First Round
(18 Jul 2019)
- Investors Count 3
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jun, 2023 | Amount | Private Equity Round - Bestpass | Valuation | Insight Partners , Susquehanna Growth Equity |
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| May, 2023 | Amount | Debt – Conventional - Bestpass | Valuation |
investors |
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| Jul, 2019 | Amount | Series B - Bestpass | Valuation |
investors |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Bestpass
Bestpass has secured backing from 3 investors, including venture fund and institutional investors. Prominent investors backing the company include Sixth Street Specialty Lending, Insight Partners and Susquehanna Growth Equity. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Investment firm scaling software and technology companies from early to late stages.
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Private equity firm
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Investment management firm
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Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Bestpass
Bestpass has strategically engaged in corporate development activities, having acquired 3 companies. Notable acquisitions include Drivewyze, ExpressTruckTax and Fleetworthy Solutions. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Provider of software solutions for weigh station alerts and bypass systems for truckers
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2011 | ||||
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Online tax filing platform
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2010 | ||||
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Solution provider for fleet management & compliance regulations
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1983 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - Bestpass
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Bestpass Comparisons
Competitors of Bestpass
Bestpass operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Relay Payments, tapNpay, Peach Pass, GoToll and NextPass, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Payment solutions for logistics industries are provided online.
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| domain | founded_year | HQ Location |
Payment facilitator solutions for toll agencies
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| domain | founded_year | HQ Location |
Manages electronic toll passes and mobile app for Georgia drivers.
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| domain | founded_year | HQ Location |
Mobile app for easy, touch-free toll road payments and tracking.
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| domain | founded_year | HQ Location |
Serves as a toll payment solution for consumers.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Bestpass
Frequently Asked Questions about Bestpass
When was Bestpass founded?
Bestpass was founded in 2001 and raised its 1st funding round 18 years after it was founded.
Where is Bestpass located?
Bestpass is headquartered in Albany, United States.
Who is the current CEO of Bestpass?
Tom Fogarty is the current CEO of Bestpass.
Is Bestpass a funded company?
Bestpass is a funded company, having raised a total of $119.12M across 3 funding rounds to date. The company's 1st funding round was a Series B of $19.12M, raised on Jul 18, 2019.
What does Bestpass do?
Bestpass was founded in 2001 in Albany, United States, as a provider in the transportation technology sector. A web-based platform is offered to fleet owners and operators for handling toll operations. Violations and discrepancies are identified through the system, while usage alerts are configured to support compliance and efficiency in toll management across the region.
Who are the top competitors of Bestpass?
Bestpass's top competitors include Relay Payments, PayTollo and tapNpay.
What products or services does Bestpass offer?
Bestpass offers Toll Management Platform and Transponder Coverage.
How many acquisitions has Bestpass made?
Bestpass has made 3 acquisitions, including Drivewyze, ExpressTruckTax, and Fleetworthy Solutions.
Who are Bestpass's investors?
Bestpass has 3 investors. Key investors include Sixth Street Specialty Lending, Insight Partners, and Susquehanna Growth Equity.
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