Published: May 26, 2016 | Charleston, US
Zubie has recently secured $6 million in an additional round of funding. Melody Capital Partners, along with existing Zubie investors OpenAir Equity Partners, Castrol innoVentures, Comporium, Nokia Growth Partners and Magna, participated in the financing.
This funding will be targeted toward further scaling to meet the growing demand for Zubie solutions for enterprise customers, enhancements to the core Zubie and ZinC Open API platforms, feature innovation, and expanding operations and staff.
Since its market entry in 2012, Zubie has formed a number of partner and customer relationships. Top-tier insurance carriers, large and small-business fleet operators, and mobile carriers have chosen to leverage Zubie’s tailored telematics solutions to power their businesses and enhance their customer acquisition and retention. The company also continues to lead telematics solutions innovation for the automotive dealer and service industry through its partnership with Castrol innoVentures. Additionally, since the launch of its ZinC Open API platform, the company has attracted a diverse set of developers and partners creating apps leveraging Zubie’s platform and vehicle data.
“The telematics and connected-car industry is expanding globally, and we are well positioned to continue our growth,” said Tim Kelly, Zubie, CEO. “Since the inception of the company, we have established leadership in innovation, tailored industry solutions, and the strong execution required of the enterprise marketplace. Today’s funding announcement further validates our strategy and our investors’ confidence in our direction and potential.”
“Melody is excited to invest in Zubie,” said Omar Jaffrey, managing partner of Melody. “Our team has a long history of investment and involvement in the telematics industry, and we believe there is tremendous opportunity for Zubie to create and deliver compelling solutions for this growing, global marketplace.”