Passport founder is now chairman; the president of the company is the new CEO of the startup Charlotte


CHARLOTTE — Passport founder Bob Youakim will no longer be the startup’s CEO and will become the startup’s chairman of the board, the startup announced Thursday.

The company’s current chairman, David Evans, who was hired and appointed in January, will assume the role of CEO as the company seeks to expand its growth.

“The transition to chair Passport’s board of directors will allow me to focus on strategic direction and the next innovation horizon,” Youakim said in a statement. “I am delighted that David is stepping in to support our mission, continue to meet the needs of our customers and help them take them to the next level.”

The leadership transition will occur throughout the second quarter of the year, according to the company.

“Passport’s exceptional team is ready for the challenge of further developing our digital platform in support of their mobility goals,” Evans said in a statement.

Prior to joining Passport, Evans was CFO and Head of Business Development for Cardlytics, a marketing data analytics platform, and prior to that worked in investment banking with Wells Fargo Securities in the technology, payments and software sectors.

The company, which has processed more than $2 billion in mobility payments over its ten-year history, provides an end-to-end system for managing mobile paid parking, parking enforcement and permits services to cities and towns, reported a three-year growth rate of 457 percent in a recent press release announcing the leadership changes.

“This is a big step forward for the company as it looks to improve its management team across the board,” said Don Rainey, partner at Grotech Ventures, who co-led a $6 million Series A investment. dollars in Passport in 2013, in an interview. with WRAL TechWire. “I am happy for Bob and his continued involvement, and look forward to the next steps for the business.”

In a further change to the company’s leadership, Passport named Keri Gohman, a partner at Bain Capital Ventures, to the company’s board after serving as an advisor to the company the previous year. Bain Capital invested $43 million in a Series C company in 2017.

Charlotte-based Passport secures $43 million in funding from Bain Capital

The company also landed a $65 million Series D funding round in December 2019, with participation from three additional investors, Rho Capital Partners, HIG Growth Partners and ThornTree Capital Partners, and according to Youakim, the money was to be invested in growing and developing. the Passport mobility system, which at the time predicted a future where nearly everyone lived in a city.

Charlotte mobility tech startup Passport raises $65M and plans transportation ‘ecosystem’


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