Diligence memo · auto-generated · as of July 2, 2026
Passport Systems Inc
Passport Systems Inc looks fair against its niche peers and is dormant on financing cadence.
Businessfiled
Passport Systems Inc operates in Software / Tech, based in Billerica.
No verified homepage on file yet — operating evidence is limited to the public record.
Capital & rounds (filed)filed
Passport Systems Inc has raised $45M in disclosed capital across 3 recorded rounds, aggregated from public filings. Its latest round is modeled as Series B (a $15M–$40M round).
Largest single filing: $21M on 2013-05-23.
Most recent recorded round closed around 2016-03-15.
Valuation (modeled)modeled
Provath models Passport Systems Inc at approximately $630M (range $51M–$2.4B). This is an algorithmic estimate from round sizes and same-niche peers — not a quoted or reported figure.
Read: Fair. Modeled value is 1.08× the median modeled value of Series B Software / Tech companies in 2016–2018 (78 peers) — value vs value, same stage and era. Within the normal band (108% of peer median) for its niche.
Financing rhythm & timingmixed
Historic cadence: a new round about every 7 months.
Last raise 10.3 yr ago; this sector typically re-raises about every 13 months.
Silent for over 3× the sector's normal cadence.
The last round was 6.9× smaller than the prior — a bridge or down round.
Comparablesmixed
Capital scale ranks ahead of 89% of Software / Tech peers (3920 compared).
Modeled value ranks above 93% of those peers.
Closest niche peers: Orchid Labs Inc., Overclock Labs, Inc., Reflexis Systems Inc, Nav Technologies, Inc., Vesper Technologies Inc..
Peoplefiled
22 named people on file across officers, directors and signatories.
Risks & flagsmixed
Financing has been silent well beyond sector cadence — possibly defunct, acquired, or paused.
No clearly named CEO/founder/principal in the surfaced records — key-person evidence is thin.