Charleston-based Zubie, a leading connected-car platform and telematics provider serving enterprises, small businesses and consumers, has secured $6 million in additional funding.
Melody Capital Partners, along with existing Zubie investors OpenAir Equity Partners, Castrol innoVentures, Comporium, Nokia Growth Partners and Magna, participated in the financing.
The new funding will be used towards 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. This funding also validates Zubie’s strength and growth, and the appeal of its robust platform to the insurance, automotive, fleet and other enterprise sectors.
“Melody is excited to invest in Zubie,” said Omar Jaffrey, managing partner of Melody Capital Partners. “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.”
Founded in 2012, Zubie has formed partnerships with top-tier insurance carriers, large and small-business fleet operators, and mobile carriers who 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.
“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.”
Zubie’s integration of its cloud platform, vehicle and driver data analytics, and aftermarket OBD-based devices has proven successful in meeting the needs of its enterprise customers in several vertical industries, and is also paving the way for telematics data monetization. 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.