Verra Mobility [NASDAQ: VRRM]: Mobility for the Smart City

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David Roberts, CEO The idea of “smart cities” as the future of urban settlement is rapidly taking shape across different parts of the globe. There are multiple players involved in making these smart cities possible: government entities such as cities, municipalities and school districts, as well as commercial and fleet providers, such as rental car companies and tolling authorities. Technology and data are helping these players build the infrastructure of the smart cities by intelligently weaving together components such as city transportation, water and waste management and energy usage. Among the multitude of aspects that constitute smart cities, the road transportation grid is possibly one of the earliest and most advanced adopters of smart technologies. Leveraging powerful sensors, intelligent analytics software and data, roadways around the world are becoming more efficient with less traffic congestion and violations, while changing driver behavior to help improve the safety of people. This achievement is not merely because of the advent of smart technologies or solutions alone, but rather because of the strategic solution portfolios of visionaries, such as Verra Mobility (NASDAQ: VRRM).

"Relationships with customers are what set us apart, driving innovation and delivering consistent results in our business segments of commercial services and government solutions"

As a global leader in smart transportation, Verra Mobility focuses on making life safer, easier, and more efficient for the customers and the communities it serves. “We do this by building connected systems that tie safe cities and smart roadways together,” says David Roberts, CEO of Verra Mobility. With products that range from red-light, speed, school bus stop arm and bus lane cameras, “We work alongside customers and behind the scenes to develop customized technology solutions that solve complex transportation challenges,” adds Roberts.

Decongesting Traffic the Smart Way

As populations continue to rise, cities are consistently looking for technology solutions to reduce traffic congestion and improve air quality by reducing vehicle emissions. London, Stockholm and Singapore are examples of large international cities where congestion pricing is used as a proven tool to reduce traffic during peak times. At this time, Verra Mobility is exploring ways to help cities implement these types of solutions, given their experience in the similar and underlying technologies. Drivers who enter a congestion zone are charged a pre-determined fee, deterring them from entering zones during peak traffic hours. “And these solutions are working,” says Roberts. Take Stockholm, for example. The traffic congestion reduced by 20 percent, and the city estimates that the air quality improvement will lead to 20-25 fewer deaths per year. Using cameras to capture a license plate, Verra Mobility’s solutions identify vehicle registration and ultimately send the driver a bill for the tolling fee. This, in turn, will promote the use of public transportation, taxis and non-traditional forms of transportation, such as e-mobility and ridesharing.
An additional benefit is putting the fees associated with congestion pricing to good use such as enabling cities to make much-needed improvements and updates to public transportation systems and other infrastructures.


We work alongside customers and behind the scenes to develop customized technology solutions that solve complex transportation challenges

Many municipalities aren’t fortunate enough to have the resources or infrastructure to take on such smart city mobility challenges. Verra Mobility has repeatedly helped such clients execute individually configured mobility projects and reap the benefits. “We’re in the business of helping customers solve their transportation challenges with leading technology and services, that are configurable to their needs,” says Roberts. As a market leader in this sector with highly differentiated platforms, Verra Mobility is the number one provider of road safety cameras and toll and violation management systems for rental car and fleet management companies in the United States. Verra Mobility has a large install base, which helps create recurring revenue for their clients so cities can re-invest in much needed safety, transportation and infrastructure needs.

Empowering Safety with New-Age Tech

The use of smart sensors has enabled cities to become connected in ways never seen before. Today, sensors are responsible for conserving streetlight power, monitoring traffic and even detecting gunshots. The capabilities of these smart city sensors are predicted to evolve even more with the integration of 5G networking. Verra Mobility leverages these advancements while they configure individual solutions for clients. For example, when it comes to implementing smart cameras in school buses, safety is the crucial point of interest for Verra Mobility. The company answered the call from school districts across the country as concerned parents continued to see their children being put in danger by drivers illegally passing school buses. Leveraging radar and motion-activated technology, Verra Mobility’s stop-arm camera solution monitors vehicles that pass the school bus while the stop arm is extended. Video evidence of the event and violation data is securely sent via a cellular network for law enforcement review. When received, a citation is sent to the driver, helping change driver behavior to positively impact student safety.

In another case, the San Antonio Independent School District (SAISD) released a request for proposal (RFP) for a list of innovative school bus technologies. The list included a stop-arm camera system, an interior and exterior camera system with real-time viewing functionality, a global positioning system, student ridership visibility, an app-based parent notification system and a secure on-bus Wi-Fi to extend classroom learning to every school bus. Verra Mobility—in partnership with existing SAISD vendors and school bus camera providers— designed CrossingGuard+, a solution that significantly improved safety in school transportation.
SAISD’s program soon grew to a fleet of smart and safe buses. Millions of dollars in hardware and software were provided to SAISD, on the promise of future revenue from the district’s stop-arm safety camera program. In effect, Verra Mobility collaborated with technology providers to create a smart and safe bus that meets all the stringent requirements of children’s’ transportation needs. It’s easy to see how this functionality could expand into other school districts and even into public city buses in the near future.

Whether it is improving the safety of buses for school districts or suggesting new ways of implementing mobility and transportation solutions for cities, proving the viability of ideas like congestion pricing, is vitally relevant. According to Roberts, “Real-time data and analytics are the keys to proving such cases by sharing details such as traffic counts during specified time frames, crash statistics and pedestrian-involved collisions.” Also, it is no surprise to anyone that smart city technologies carry a hefty price tag. This is a strong point for many “Vision Zero” cities—cities with a goal that envisions zero pedestrian deaths—to leverage the benefits of Verra Mobility’s cameras, (red light, speed, school bus stop arm) for enhancing road safety and fund further smart city initiatives. Verra Mobility helps these cities drive the concept of the smart city into a reality.

Bringing all to the Table

Verra Mobility’s market share, global presence (15+ countries) and extensive partnerships with leading toll authorities, rental car companies and municipalities position the organization as a recognized leader in the smart mobility space.

“We rally to the cause of our customers. Relationships with customers are what set us apart, driving innovation and delivering consistent results in our business segments of commercial services and government solutions,” says Roberts. The commercial services customers include fleet management companies large fleet operators and original equipment manufacturers (OEMs) and emerging fleets such as ride-share services. On the other hand, government solutions customers consist of municipalities, school districts and other government entities.

Owing to its unique value proposition, Verra Mobility has experienced incredible growth over the last year. “It has been a very busy year, both from a development standpoint and staffing,” says Roberts. On the developmental front, Verra Mobility recently launched PeasyTM, a consumer tolling application. On the staffing front, the company has appointed two people into strategic leadership positions: Mike McMillan, vice president, Corporate Development and Strategy, and Garrett Miller, executive vice president, Government Solutions.

Looking to expand its footprint to Europe and beyond through strategic partnerships and acquisitions. While achieving this, “People are always a key differentiator for our company,” says Roberts. “It is not just a technology company but also a people company.” Verra Mobility’s teams are driven by a relentless pursuit of tomorrow’s solutions while simultaneously solving the challenges that customers face today. As Roberts puts it, “We know mobility impacts human lives, and that fact gives us purpose. We approach our work with a sense of perseverance and grace.”

Verra Mobility News

Verra Mobility Partners with Arrive to Improve the Parking and Tolling Experience via App for Drivers

PHOENIX: Verra Mobility (NASDAQ: VRRM), a global leader in smart transportation, announced a partnership with Arrive, the leading parking service provider across the United States and Canada. The new relationship will deliver a user-friendly and more comprehensive mobility solution that conveniently combines tolling and parking into a single intelligent platform for drivers.

"As a company, we pride ourselves on our ability to simplify the growing and increasingly complex mobility ecosystem by creating an all-in-one platform that allows our customers to travel smarter, said David Roberts, president and CEO of Verra Mobility. "With this collaboration, we saw an opportunity to enhance our powerful tolling capabilities with Arrive's parking prowess - another pain point drivers face."

This partnership will enable Verra Mobility to infuse all of Arrive's valuable parking data into a single mobility platform and deliver services through Peasy, Verra Mobility's pay-as-you-go web and mobile tolling app. This app will now allow users to not only pay for tolls effortlessly, but also to find, book and pay for parking spaces the same way - cash-free and without headaches.

"Drivers and commuters should not have to download several apps to get around cities," said Dan Roarty, President and COO of Arrive. "We are excited to work with Verra Mobility to integrate our platforms together in their Peasy app and provide customers a greater value."

Company
Verra Mobility

Headquarters
Mesa, AZ

Management
David Roberts, CEO

Description
Verra Mobility (“Verra Mobility” or the “Company”), the leading provider of tech-enabled smart transportation solutions Verra Mobility is a global leader in smart mobility, serving the world's largest commercial fleets and rental car companies in managing tolling transactions and violations for more than 8.5 million vehicles and operating more than 4,000 red-light, speed, and school bus stop arm safety cameras. Verra Mobility maintains its leadership position in the marketplace through meaningful scale and has demonstrated consistent revenue growth underscored by its differentiated transaction processing model

Verra Mobility