Parking inventory and booking startup SpotHero has launched a new business-focused service to make it easier for employees to manage their parking expenses.
With the aptly named SpotHero for Business, drivers on official work duty can submit their parking receipts from SpotHero directly into SAP-owned expenses management platform Concur, Certify, and Expensify. This saves them having to retain receipts and submit them manually.
The new in-app business profiles also allow employees to charge parking fees directly to their company card, and businesses can now access a dedicated dashboard with parking expense management tools that provide access to reports on parking reservations and other data.
Founded in 2011, SpotHero connects garages, lots, and valets with drivers across the U.S. The company has raised $27 million in equity funding and says it has helped more than 5 million drivers find spaces for their vehicles.
Though SpotHero hasn’t offered a specific business product before now, it has already proven popular in the corporate realm. The company says that thousands of firms already use its product, and in the buildup to today’s launch, the company says that it garnered feedback from managers and employees at 200 businesses.
“Businesses have had tools for managing airline, hotel, rental car, and ground transportation expenses for years, but until now there hasn’t been a robust solution to manage $3 billion in annual reimbursed parking expenses,” said Elan Mosbacher, VP of strategy and partnerships at SpotHero. “SpotHero For Business will make finding, paying for, and expensing parking easier, faster, and more cost-effective for employees who need to drive for work.”
The Chicago-based startup follows a long line of tech companies that have sought to lure business users on board by integrating with Concur. Airbnb has allowed business travellers to expense their accommodation directly through Concur for a few years already, while last year car-hailing apps Uber and Lyft both gained similar tools.
Today’s news comes a month after SpotHero launched its new developer platform to extend its parking inventory into third-party apps.