Passport Q2 ‘15 Shows Impressive 31% Growth from Q1; Over 32,000 Parking Spaces Added

Q2 2015 impressive growth

Passport, the leading provider of mobile payments for parking and transit, today reports company and product highlights for the second quarter ending June 30, 2015.

“Our strong Q2 results demonstrate continued enthusiasm for our municipal transportation platforms, and we’re excited to move into the second half of the year with incredible momentum. Years ago, mobile payments were merely an ‘added convenience’ for cities,” said Khristian Gutierrez, Chief Business Development Officer at Passport, “but Passport has established mobile payments as a critical component for urban transportation systems.

What we’re seeing now is entire programs being centered around a mobile-first platform: parking, transit, and local commerce intersect on mobile in new and profound ways. This software is truly supporting and connecting the ways people move around a downtown environment.”

Q2 2015 Company Highlights

  • 31% sequential quarterly growth in revenue
  • Historical launch of the first ever multimodal app, GoTucson. This app, combining parking and transit, launched throughout the City of Tucson’s 250 buses in order to simplify the riding experience.
  • Achieved company history with a total of 28 launches
  • Added 4 employees to bring the total team count to 58
  • Team members spoke to Passport’s vision of parking and transportation technology at numerous conferences, including the International Parking Institute, Transport Chicago, and Parking Association of Georgia conferences.
  • Passport received recognition at the International Parking Institute Conference and Expo with a Best of Show award (2nd Place).

Q2 2015 Mobile Payment Highlights

  • Passport achieved its highest quarterly launch count to date, amounting to 28 launches and over 32,000 parking spaces. Notable deployments included:

○     Tucson, AZ - The first multimodal app to include both parking and transit. Following the 1,500 parking space deployment of GoTucson, the mobile ticketing feature became available across SunTran’s 250 buses. This allows for users to pay for parking as well as their bus pass within the GoTucson app.

○     Boston, MA - ParkBoston continued to expand throughout 5 additional neighborhoods. With 5,200 parking spaces launched, all 8,000 parking spaces in the City of Boston will be deployed by the end of the summer.

○     Chicagoland, IL - Passport-branded rollouts continued to expand through Chicago suburbs, increasing its reach to 4 additional municipalities, totaling 2,100+ parking installs. Passport introduced its mobile pay solution in the Barrington, Wheaton Center, Lombard, and Itasca suburbs of Chicago.

○     Expanded mobile pay footprint by over 3,300 parking spaces at college campuses across the country. Passport premiered at Auraria Higher Education Center in Denver, CO and the University of Central Florida in Orlando, FL.

Passport’s revolutionary vision of a citywide solution has proven successful with the deployment of the first multimodal app, GoTucson. In addition to making transportation technology history,

Passport made company history by achieving the highest quarterly launch count to date, while also adding over 32,000 parking spaces under the Passport umbrella. Passport’s continued growth in Q2 externally as well as internally is expected to follow throughout 2015 as the company sees ongoing success in the parking and transportation industries.

Additional Resources

About PassportPassport logo

Passport is the industry-leading mobile payments company specializing in integrated urban mobility solutions. The company provides feature rich software platforms that offer parking and transit agencies a more effective and efficient way to manage their operations and serve their customers. Passport’s mobile payment systems are deployed in over 1,000 locations in 43 states and provinces across the US and Canada, with clients such as Chicago, Toronto, and Boston.

Headquartered in Charlotte, NC, Passport is backed by a highly respected group of investors, including Grotech Ventures and Relevance Capital. For more information, please visit www.gopassport.com

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