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

By: Jonathan Shieber

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.

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.

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