Investors find a spot for $65 million in Passport’s parking management tech

TechCrunch | 12/10/2019 | Staff
cv2angelscv2angels (Posted by) Level 3
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The big new round of funding for Passport’s ticketing and parking management tech proves that software can even disrupt something as mundane and seemingly low-tech as the parking lot.

The startup, which just raised $65 million in new financing from investors is a permitting, parking and ticketing management service for cities, office parks and campuses.

Capital - Commitment - North - Startup - Funding

The capital commitment more than doubles the North Carolina-based startup’s funding to $125 million and is actually the second big investment round of the year for a parking tech company. SpotHero, the Chicago-based marketplace for parking raised $50 million earlier in the year and other services related to auto care and servicing in parking lots or on-demand have raised tens of millions of dollars as well.

“In the future, almost everyone in the world will live in a city, so there’s no more important challenge to work on than how people move throughout...
(Excerpt) Read more at: TechCrunch
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