Passport, a Charlotte, N.C.-based mobility management platform, closed a $65M Series D funding.
Backers included new investors Rho Capital Partners, H.I.G. Growth Partners and ThornTree Capital Partners and existing investors Bain Capital Ventures, MK Capital, Grotech Ventures, and Relevance Capital. To date, the company has raised a total of $125M.
With the close of the Series D round, Habib Kairouz from Rho Capital Partners will be joining Passport’s board of directors, along with Scott Hilleboe from H.I.G.
The new capital will be invested in growing the company’s mobility software platform and expanding the mobility ecosystem to enable digital parking payments outside of traditional parking apps.
Led by Bob Youakim, co-founder and CEO, Passport provides cities with a mobility management platform to take control of the curb, optimize mobility and create an interface between the city’s infrastructure and vehicles. In the coming months, The company will be onboarding and announcing partners who are leveraging its APIs to facilitate parking payments.
Passport serves nearly 1,000 cities, universities and agencies, including Chicago, Toronto, London, Los Angeles, and Miami, and processes more than 100 million curbside transactions each year.
FinSMEs
11/12/2019