Verra Mobility Corporation (Verra Mobility) provides smart mobility technology solutions, principally operating throughout the United States, Australia, Europe and Canada.
The company brings together vehicles, hardware, software, data, and people to solve transportation challenges for customers around the world, including commercial fleet owners, such as rental car companies (RACs), direct commercial fleet owner-operators, (Direct Fleets), and fleet management companies, (FMCs), as well as gove...
Verra Mobility Corporation (Verra Mobility) provides smart mobility technology solutions, principally operating throughout the United States, Australia, Europe and Canada.
The company brings together vehicles, hardware, software, data, and people to solve transportation challenges for customers around the world, including commercial fleet owners, such as rental car companies (RACs), direct commercial fleet owner-operators, (Direct Fleets), and fleet management companies, (FMCs), as well as governments, universities, parking operators, healthcare facilities, transportation hubs, and other violation-issuing authorities.
Segments
The company’s solutions are offered through three segments: Commercial Services, Government Solutions, and Parking Solutions.
Commercial Services
Commercial Services segment provides automated toll and violations management, and title and registration solutions to RACs, Direct Fleets, FMCs, and other large fleet owners primarily in North America. The company's toll and violations management solutions are designed to facilitate the timely payment of tolls and violations incurred by its customers’ vehicles and perform timely transfers of liability on its customers’ behalf, as well as driver billing and collections, as applicable. The company also manages regional toll transponder installation and vehicle association—a critical and highly complex process for RAC, Direct Fleet, and FMC customers—to ensure that the transponders, (and corresponding toll transactions), are associated with the correct vehicle.
The company has long-standing relationships with, among others, the three largest RACs in the United States, Avis Budget Group, Enterprise Mobility and The Hertz Corporation. The company also has relationships with key European RACs and FMCs in the United States. Through its established relationships with individual tolling authorities throughout the United States, the company provides an automated and outsourced administrative solution for the company’s customers while also providing convenience for vehicle drivers and benefits to tolling and issuing authorities.
The company's violations management solutions process violations incurred by the drivers of RAC, Direct Fleet, and FMC vehicles by working with more than 8,700 domestic violation-issuing authorities as of December 31, 2024, to either pay the fine on behalf of the vehicle owner (for which it is able to bill the driver) or to transfer liability directly to the vehicle driver. Vehicle-issued violations include parking and photo enforcement violations. In Europe, the company specializes in the identification, notification, and collection of unpaid traffic, parking, and public transport-related fees, charges, and penalties issued to foreign registered vehicles or persons on behalf of issuing authorities in 20 European countries as of December 31, 2024.
The company's title and registration solutions provide RAC, Direct Fleet, and FMC customers with an integrated, end-to-end solution for managing vehicle titles, registrations, and annual renewals. The company provides automated title and registration solutions by working with individual departments of motor vehicles for title and registration processing in 18 states as of December 31, 2024.
Government Solutions
Government Solutions segment is a provider of automated safety solutions primarily in the United States, Canada, and Australia to state and local governments. In the United States, the company provides government agencies with road safety cameras to detect and process traffic violations for red-light, speed, school bus, and city bus lanes. These programs are designed to reduce traffic violations, and resulting collisions, injuries, and fatalities. The company implements and administers traffic safety programs for municipalities, counties, school districts, and law enforcement agencies of all sizes. The company’s proprietary hardware and software technologies are designed to provide government agencies with the information, data, and automated end-to-end administrative capabilities to enforce traffic violations through photo enforcement.
On behalf of its customers, the company installs, maintains, and manages automated safety solution hardware and software that processes event data, applies customer-specific rules, and connects a traffic violation to the responsible driver or vehicle owner. For customers of its end-to-end solutions, the company automatically sends captured events to the designated enforcement agency of the customer, where an authorized individual determines if a violation occurred. Upon law enforcement’s determination that a violation occurred, the company manages the citation mailing, billing, and other administrative tasks on behalf of its customers. For many international customers, the company designs, engineers, and maintains roadside photo enforcement technology, including both hardware and software, which is sold or licensed to government agencies, and often maintained with maintenance contracts to support the technology.
Parking Solutions
Parking Solutions segment provides end-to-end commercial parking management solutions to approximately 2,000 customers in the university, municipal, healthcare, and commercial operator markets, as of December 31, 2024. The company's proprietary software, transaction processing, and hardware technologies provide its customers with solutions to manage and monetize their parking and enforcement operations. In 2024, the company processed over 190 million transactions using its various parking solutions systems, including parking access and revenue control, (PARC) single- and multi-space pay stations, integrated physical and mobile payments, back-office parking rate management, permit issuance and management, online citation payment, event parking, and back-office management of violations.
Markets
The primary sectors in which the company operates are automated safety, tolling, commercial fleet management and parking.
Seasonality
The company's Commercial Services business segment experiences seasonal fluctuations in usage and revenue. Historically, Commercial Services sees higher volumes in the second and third quarters of each fiscal year (year ended December), driven by increases in travel demand during the summer driving season.
Technology
The company utilizes software and hardware to deliver its services. The company's business unit teams have expertise in areas such as hardware, software, and firmware development and testing, database design and data analytics, and both product and project management. In addition, the company utilizes external contractors to supplement its team in the areas of software and firmware development, digital design, test development, and product-level testing. Generally, the company's research and development efforts are focused on expanding the capabilities of its products, differentiating its offerings, simplifying the implementation, support, and utilization of its solutions, reducing the cost of its solutions, increasing the reliability of its solutions, expanding the functionality of its solutions to meet customer and market requirements, applying new advances in technology to enhance existing solutions, and building further competitive advantages through its intellectual property portfolio. The company utilizes artificial intelligence, AI, to enhance its business process functions and select aspects of its solutions.
Intellectual Property
As of December 31, 2024, the company owned approximately 87 U.S.- and foreign-issued patents and pending patent applications, including patents and rights to patent applications acquired through strategic transactions, which relate to various aspects of its products and technology. The company's patent portfolio evolves as new patents are awarded to it, and as older patents expire. Patents expire at various dates, generally 20 years from their original filing dates.
The company has approximately 220 registrations and pending applications in the United States and foreign jurisdictions for trademarks and service marks as of December 31, 2024, reflecting its many products and services. These registrations and applications include the company's historic and acquired brands, as well as Verra Mobility.
Government Regulation
The company's operations are subject to regulation by various U.S. federal agencies, including but not limited to the U.S. Department of Transportation, (USDOT), the Federal Trade Commission, (FTC), the Federal Communications Commission, the Consumer Product Safety Commission, the Consumer Financial Protection Bureau, and the Environmental Protection Agency. The company is also subject to laws, regulations, and administrative practices addressing many of these same matters in Europe, Australia, Canada, and New Zealand, including those specifically relating to accessing and use of information obtained from vehicle licensing authorities, traffic enforcement and collections, and financial and banking regulations.
As part of its business, the company collects, receives, processes, uses, transmits, discloses, and retains information relating to identifiable individuals, (personal information), and therefore, is subject to various laws protecting the privacy and security of personal information, including but not limited to the U.S. Driver Privacy Protection Act, the General Data Protection Regulation, (the GDPR), in the European Union, (the E.U.) the Data Protection Act of 2018 and the GDPR in the United Kingdom, the Canadian Personal Information Protection and Electronic Documents Act, the Australia Privacy Act of 1988, New Zealand’s Privacy Act of 2020, the California Consumer Privacy Act, (the CCPA), and other national and state privacy laws.
The company is also subject to similar restrictions and audit requirements pursuant to its contracts with the organizations from which it gains access to personal information, such as departments of motor vehicles and the National Law Enforcement Telecommunications System.
History
Verra Mobility Corporation was founded in 1987.