The investment is structured as a revenue-based financing solution for Zubie as it ramps up new services.
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A significant investment from Decathlon Capital Partners is slated to support Zubie, Inc. as it expands its fleet management platform and launches new service capabilities, the companies announced on Jan. 5. Details of the multi-million-dollar funding package were not disclosed, according to a news release.
Minnesota-based telematics provider Zubie provides a connected-car platform, GPS tracking, and fleet management software. The company’s Rental Connect product provides real-time fuel and odometer readings, which speeds up the check-in and check-out process for rental operators. Zubie also recently released Location Link, designed to assist in vehicle recovery efforts.
Other Zubie solutions include Smart Maintenance, an online solution to help fleet managers track, schedule, and pay for service online; Asset Trak, which enables fleet operators to track and protect equipment alongside their fleet vehicles in a unified view; and Zubie Dashcam, which delivers both forward-facing and in-cabin video data through Zubie’s software platform.
Chad Caswell, CEO of Zubie, said the investment from Decathlon Capital Partners comes at an important time in the company’s history. “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 says. “With this investment, the company is well positioned to expand its product offerings and address new markets.”
John Borchers, managing director of Decathlon Capital Partners, said the proven, scalable technology, and leadership of Zubie combine to establish the company as the leader in its industry. “The company has earned well-deserved recognition for its innovative technology and for its industry-focused management,” Borchers says. “Decathlon Capital Partners is pleased to play a role in Zubie’s continued success.”
The investment by Decathlon Capital Partners was structured as a revenue-based financing solution, according to the news release. Revenue-based funding models allow companies like Zubie to secure growth capital without having to sell any equity or endure any governance changes. Zubie will repay the investment through a small portion of its future revenues, the announcement said.
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