Zubie receives investment from Decathlon Capital Partners
Telematics provider Zubie has received a “significant investment” from Decathlon Capital Partners as it expands its fleet-management platform and launches new service capabilities. Details of the multi-million-dollar funding package were not disclosed but it was structured as a revenue-based financing solution and Zubie will repay the investment through a portion of its future revenues.
Zubie, headquartered in Bloomington, Minnesota, provides a connected-car platform as well as GPS tracking and fleet-management software. The company’s Rental Connect product provides real-time fuel and odometer readings and it recently released Location Link, designed to assist in vehicle recovery efforts. Zubie also offers a forward-facing and in-cabin dashcam.
“As the car-rental business rebounds quickly from the effects of the pandemic, and as fleet operators continue to seek cost-effective tools to handle their complex responsibilities, Zubie has found strong acceptance for its forward-looking technology,” Caswell said. “With this investment, the company is well positioned to expand its product offerings and address new markets.” – Chad Caswell, the CEO of Zubie.
“The company has earned well-deserved recognition for its innovative technology and for its industry-focused management,” Borchers said. “Decathlon Capital Partners is pleased to play a role in Zubie’s continued success.” – John Borchers, managing director of Decathlon Capital Partners.
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As part of the program, human service organizations will be able to track fleet vehicles in real time, find the closest driver to respond to client needs, monitor vehicle health and receive notifications of engine or battery issues, measure mileage and vehicle utilization, monitor driver performance, including hard braking, speeding or rapid acceleration, and verify arrival and departure from client sites.