Passport Labs Strengths, Domain Expertise, and Key Differentiators
Passport Labs stands out with its comprehensive mobility platform, allowing clients to efficiently manage and coordinate various transportation modes. Its strengths lie in a robust product portfolio and deep expertise in parking management technology. Strategic acquisitions of Complus and NuPark have further strengthened Passport’s enforcement and permitting capabilities, reinforcing its leadership in the competitive digital mobility space.
Passport Labs Recent Developments
In 2024, Passport Labs launched its advanced Photo Enforcement solution in five U.S. locations, including Atlanta’s Ponce City Market. Additionally, the company expanded its integrated payments software to 43 locations, introducing enhanced meter and pay station payment processing solutions.
In the ever-evolving realm of digital mobility solutions, Passport Labs has made strategic moves to solidify its position. In April 2021, the company announced the appointment of Bob Youakim as Chairman of the Board, signaling a leadership transition expected to unfold in the next quarter. With a steady stream of news, Passport has maintained momentum, recently achieving over $2 billion in mobility transactions processed to date during the third quarter of 2021.
Passport Labs Mergers and Acquisitions (M&A) Activities
Passport Labs has strategically expanded its capabilities through acquisitions. In December 2019, the company successfully closed a $65 million Series D funding round with notable investors like Rho Capital Partners, H.I.G. Growth Partners, and ThornTree Capital Partners. This financial backing fuels Passport's ongoing development of its digital mobility platform. The acquisitions of Complus Data Innovations in June 2019 and NuPark in October 2018 have fortified Passport's position, creating a comprehensive mobility platform.
Passport Labs Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying Passport Labs applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of Passport Labs and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified Passport Platform (Parking, Permits, Enforcement, Transit, Back Office and Reporting.) customers.
Passport Labs Overview
128 S. Tryon St #2200
Charlotte, NC, 28202, United States
1 980-939-0990
https://www.passportinc.com/
Ownership: - x
Number of Employees: 400
Functional Markets: ERP Financial, ERP Services and Operations,
Key Verticals: Education, Government, Professional Services,
Passport Labs Key Enterprise and Cloud Applications
Passport Platform (Parking, Permits, Enforcement, Transit, Back Office and Reporting.)
Passport Labs Revenues, $M:
| Type/Year | 2023 | 2024 | YoY Growth, % |
|---|---|---|---|
| Total Revenues, $M | Subscribe | Subscribe | Subscribe |
| Enterprise Applications Revenues, $M | Subscribe | Subscribe | Subscribe |
| Cloud Applications Revenues, $M | Subscribe | Subscribe | Subscribe |
* Enterprise Applications Revenues = License + Support & Maintenance + SaaS
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.
Passport Labs Revenue Breakdown By Type, $M:
Passport Labs Enterprise Applications Revenues By Functional Markets, $M:
Passport Labs Enterprise Applications Revenues By Verticals, $M:
Passport Labs Revenues By Region, $M
| Region | % of Total Revenues | 2024 Total Revenues, $M | 2024 Enterprise Applications Revenues, $M | 2024 Cloud Applications Revenues, $M |
|---|---|---|---|---|
| Americas | Subscribe | Subscribe | Subscribe | Subscribe |
| EMEA | Subscribe | Subscribe | Subscribe | Subscribe |
| APAC | Subscribe | Subscribe | Subscribe | Subscribe |
| Total | Subscribe | Subscribe | Subscribe | Subscribe |
Passport Labs Direct vs Indirect sales
| Type | Direct Sales | Indirect Sales | Total |
|---|---|---|---|
| Type % | Subscribe | Subscribe | Subscribe |
| Revenues, $M | Subscribe | Subscribe | Subscribe |
Passport Labs Customers - Breakdown by Geo, Size, Vertical and Product
List of Verified Passport Labs Customers
No. of Passport Labs Customers: 800
No. of Passport Labs Enterprise Applications Customers: 800
No. of Passport Labs Cloud Customers: 800
No. of Passport Labs Cloud Subscribers: x
Trusted by nearly 800 cities, universities, and agencies, Passport Labs has a diverse clientele, including the University of Delaware, Rutgers University, and Southwest Ohio Regional Transit Authority (SORTA). The company's reach extends across different regions, industries, and geographies, showcasing its adaptability and widespread appeal.
Passport Labs Market Opportunities, M&A and Geo Expansions
In March 2024, Passport Labs announced a strategic leadership transition to drive its next phase of growth. Co-founders Khristian Gutierrez and Bob Youakim have stepped back into operational roles to guide the company through a transformative period in the industry. Gutierrez, previously CRO for a decade, has assumed the role of CEO, while Youakim transitioned from CEO to Executive Chairman. With their leadership and expertise, Passport is positioned to capitalize on emerging market opportunities, drive innovation, and further strengthen its industry presence.
Passport Labs is poised to leverage market opportunities at both horizontal and vertical levels. The company's expansion into London in September 2018 and the recent API integration with Barnacle highlight its commitment to embracing technological advancements. With a focus on real-time, data-centric management, Passport is well-positioned to capitalize on the increasing demand for Cloud, IoT, AI, and ML technologies in the digital mobility sector.
Passport Labs Risks and Challenges
While Passport Labs has successfully managed internal and external risks, expanding sales beyond the United States presents a significant challenge. The company remains proactive in addressing go-to-market hurdles, ensuring a strategic approach to maintaining and growing its market presence.
Passport Labs Ecosystem, Partners, Resellers and SI
In April 2024, Passport Labs expanded its ecosystem through a partnership with CityBase, a Euna Solutions brand, to enhance payment experiences in Evanston, Illinois. By integrating Passport’s industry-leading platform with CityBase’s secure, self-service payment kiosks, the collaboration provides a more accessible and convenient way for residents to make citation payments. This partnership strengthens Passport’s network, with plans to extend these benefits to more cities in the future.
Passport Labs has built a strong ecosystem through strategic partnerships with industry leaders such as Visa, Spin, Lyft, and MasterCard. Collaborations with key players like Mackay Meters and Total Parking Solutions further strengthen its network, driving the growth and impact of Passport's digital mobility platform. These alliances enhance the platform’s value, fostering seamless, efficient, and innovative mobility solutions.
Research Methodology
Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.
Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).
For additional information on our methodologies, here's the link:
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