Passport, a transportation software and payments company, has secured $90M in growth capital from Sixth Street Growth, the growth platform of Sixth Street, a leading global investment firm. The investment follows Passport’s $65M Series D funding at the end of 2019 and brings the total capital raised by the company to more than $200M.
“Sixth Street’s support of Passport is a testament to our vision of creating equitable solutions for more efficient streets and sidewalks,” said David Evans, Passport CEO. “This investment provides us with the financial footing to continue developing the technology our clients need to manage their complex mobility ecosystems — both now and in the future.”
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As cities reopen in the wake of the pandemic they are managing conflicting demands on the use of their curbs. Passport plans to leverage this latest funding to further improve the company’s digital platform infrastructure to help cities maximize the use of curb space in a way that is safe, equitable and creates positive community engagement.
“Passport enables cities to replace capital-intensive physical installations with effective, easy-to-use mobile technology solutions and we are pleased to partner with them as they continue to transform urban mobility,” said Bo Stanley, Partner and Co-Head of Sixth Street Growth. “David and the Passport management team have a proven track record of technology development and are growing their platform to become the central management system of record for cities to manage mobility payments.”
