About Passport
Passport is a company based in Wilmington (United States) founded in 2010 by Khristian Gutierrez. It operates as a SaaS (Software-as-a-Service), and Subscription Services. Passport has raised $212.5 million across 7 funding rounds from investors including Comerica, Rho Capital Partners and H.I.G. Growth Partners. The company has 237 employees as of December 31, 2020. Passport has completed 2 acquisitions, including NuPark and Passport. Passport offers products and services including Parking Compliance Platform, Digital Parking Permits, Mobile Parking App, and Passport Payments. Passport operates in a competitive market with competitors including Parkmobile, Passport Parking, Bytemark, QP QuickPay Parking and Ticketer, among others.
- Headquarter Wilmington, United States
- Employees 237 as on 31 Dec, 2020
- Founders Khristian Gutierrez
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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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- Legal Name Passport Labs, Inc.
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Products & Services of Passport
Passport offers a comprehensive portfolio of products and services, including Parking Compliance Platform, Digital Parking Permits, Mobile Parking App, and Passport Payments. 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 used to manage parking enforcement efficiently.
Software used for end-to-end permit management.
App designed for convenient mobile parking payments.
Solutions provided for specialized parking payment processing.
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Funding Insights of Passport
Passport has successfully raised a total of $212.5M across 7 strategic funding rounds. The most recent funding activity was a Series E round of $90 million completed in May 2021. 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 7
- Last Round Series E — $90.0M
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First Round
First Round
(01 Jun 2011)
- Investors Count 9
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| May, 2021 | Amount | Series E - Passport | Valuation | Sixth Street |
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| Dec, 2019 | Amount | Series D - Passport | Valuation | Rho Capital Partners , H.I.G. Growth Partners |
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| Dec, 2017 | Amount | Series C - Passport | Valuation | Bain Capital Ventures |
| 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 Passport
Passport has secured backing from 9 investors, including venture fund and institutional investors. Prominent investors backing the company include Comerica, Rho Capital Partners and H.I.G. Growth Partners. 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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Early-stage tech startups are invested in by Rho Capital Partners.
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Founded Year | Domain | Location | |
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Private equity investments are made in the United States.
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Venture capital fund focused on investing in multiple sectors
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Founded Year | Domain | Location |
| Investor | Description | 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 Passport
Passport has strategically engaged in corporate development activities, having acquired 2 companies. Notable acquisitions include NuPark and Passport. 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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Cloud-based parking management solutions using license plate recognition are provided.
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2013 | ||||
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Parking payments and management solutions are delivered via tech platform.
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| 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 - Passport
| 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 |
Passport Comparisons
Competitors of Passport
Passport 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 Parkmobile, Passport Parking, Bytemark, QP QuickPay Parking and Ticketer, 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 |
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| domain | founded_year | HQ Location |
Parking spaces are booked via a mobile app platform.
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| domain | founded_year | HQ Location |
Mobile app payments for parking spaces are enabled.
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| domain | founded_year | HQ Location |
Mobile ticketing and payment systems are provided for transit operators.
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| domain | founded_year | HQ Location |
Provides integrated mobile technology for parking services and solutions.
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| domain | founded_year | HQ Location |
Cloud-enabled ticketing solutions are provided for transit operators.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| 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 Passport
Frequently Asked Questions about Passport
When was Passport founded?
Passport was founded in 2010 and raised its 1st funding round 1 year after it was founded.
Where is Passport located?
Passport is headquartered in Wilmington, United States. It is registered at Wilmington, Delaware, United States.
Who is the current CEO of Passport?
Khristian Gutierrez is the current CEO of Passport. They have also founded this company.
Is Passport a funded company?
Passport is a funded company, having raised a total of $212.5M across 7 funding rounds to date. The company's 1st funding round was a Series C of $43M, raised on Jun 01, 2011.
How many employees does Passport have?
As of Dec 31, 2020, the latest employee count at Passport is 237.
What does Passport do?
Passport is engaged in delivering a comprehensive parking compliance platform used to manage parking enforcement, mobile pay parking, digital permitting, and payment solutions. The company serves various sectors including municipalities, private operators, universities, and parking authorities. Its integrated curb management solutions are designed to centralize parking data, enhance operational efficiency, increase revenue, and improve the overall parking experience for users.
Who are the top competitors of Passport?
Passport's top competitors include Parkmobile, Bytemark and Passport Parking.
What products or services does Passport offer?
Passport offers Parking Compliance Platform, Digital Parking Permits, Mobile Parking App, and Passport Payments.
How many acquisitions has Passport made?
Who are Passport's investors?
Passport has 9 investors. Key investors include Comerica, Rho Capital Partners, H.I.G. Growth Partners, ThornTree Capital Partners, and Bain Capital Ventures.
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