Passport, a Charlotte, NC-based mobile technology company in parking, transportation and transit management, closed an $8m Series B funding.
The round was led by MK Capital with participation from existing investors Grotech Ventures and Relevance Capital.
The company, which has raised $17m in total funding, will use the capital to accelerate growth, scaling operations and expanding into new domestic and international markets.
Led by Bob Youakim, CEO, Passport provides an enterprise software platform for parking and transportation customers centered around mobile payments, enforcement, and permits, which gives them access to real-time insights not attainable through existing infrastructure.
The company currently serves over 250 clients supporting over 2 million community users in large metro cities such as Chicago, Toronto, Boston, Detroit, Cincinnati, Sacramento, and Salt Lake City, as well as scores of smaller communities.