Passport recognized as one of Charlotte’s fastest growing companies
Company named to Charlotte Business Journal’s Fast 50 for third consecutive year
Charlotte, N.C. (Dec. 10, 2018) — Passport has again been recognized as one of the fastest-growing private companies by the Charlotte Business Journal (CBJ). The company was named to CBJ’s Fast 50 list for the third consecutive year after demonstrating an average revenue growth of 87 percent from 2015 to 2017.
“Passport is honored to be recognized on both a local and national scale for our growth,” said Bob Youakim, Passport CEO. “We are heavily invested in our hometown of Charlotte and we are in great company with the other talented companies named to the 2018 Fast 50.”
In addition to the Fast 50 recognition, Passport has also been receiving national attention for its rapid growth, with placements on the 2018 Inc. 5000 list and Deloitte’s Technology Fast 500. While these awards focus on revenue growth, Passport has evolved more than just financially. In the past 12 months, the company acquired NuPark, known for its strong license plate recognition and parking management software technology, celebrated the milestone of 200 employees, and secured a $43 million investment by Bain Capital Ventures.
Passport has also focused on its talent and company culture, hiring more than 100 new employees this year. The company was recently recognized by CBJ and The Charlotte Observer as one of the city’s best places to work.
Passport is poised for future growth, as it focuses on a platform solution to help cities manage all forms of mobility from one central hub. The company invested $5 million to expand the platform, which will be piloted with some of the largest cities in North America in 2019.
Passport transforms the way cities manage their operations. The company’s mobile-first platform has been adopted by more than 550 cities, universities, and private operators around the world in cities including Chicago, Toronto, London, and Miami, across more than 5,000 locations. Passport’s product lines — parking, transit and tolling payments, parking enforcement, and permit management — enable organizations in the public and private sectors to streamline their operations, enhance customer service, and make data-driven decisions. Passport has been recognized as one of North America’s fastest growing companies on the Inc. 5000 and Deloitte Technology 500 lists and a Best Places to Work in Charlotte, North Carolina.
Passport is backed by a group of investors, including Bain Capital Ventures, Grotech Ventures, MK Capital and Relevance Capital. Learn more, or get in touch with Passport at passportinc.com.
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