Passport

Passport is a digital mobility system that provides a number of solutions for parking management, including 1) digital parking payment, 2) digital enforcement of parking fees and fines, 3) digital parking permit issuance and approval, and 4)  regulating curb space usage by scooters and delivery vehicles. In June 2022, Passport enhanced its digital enforcement solutions with the launch of a real-time fully integrated citation issuance system . In July 2023, the firm launched SpotBlock, a digital meter bagging and reservation system, to improve the management of parking spot reservations in cities.

Passport’s value proposition to cities is that it can replace expensive physical infrastructure with more affordable cloud-based mobile technology solutions. A case in point is its use of license plate recognition (LPR) technology mounted on parking enforcement vehicles to monitor and enforce parking compliance without installing special tags on individual vehicles. Passport’s management platform also provides visibility on key metrics like daily parking revenue, average parking time, and real-time parking utilization levels for city planners to optimize revenue while reducing congestion. For commuters, Passport provides a smart parking app that allows commuters to manage permits and pay for parking via several options. As of June 2022, Passport had processed more than USD 2 billion in mobility payments.

Key customers and partnerships

The firm had more than 450 customers by the end of 2017, 80% of whom were in the public sector. As of March 2022, this number had grown to 800+ global customers from city municipalities, universities, and private operators, in Chicago, Miami, Toronto, and Los Angeles.

Passport’s platform integrates with a number of technology partners for a variety of use cases including parking (Park Mobile, Flowbird), enforcement (Genetec, Barnacle), and payment (Google pay, Apple Pay). In November 2021, the firm partnered with Way, a pay-and-go parking app offering Passport’s users more ways to locate, book, and pay for parking.

Funding and financials

Passport raised USD 90 million in growth funding in May 2021 led by Sixth Street. The firm planned to use the funding to further develop its platform. In 3Q 2021, Passport achieved more than USD 2 billion in mobility transactions. In 4Q 2021, the firm claimed to have experienced a 50% YoY growth in total transactions processed by its contactless mobility payment solutions.