- February 8, 2019
- Posted by:
- Category: venture capital funding
Scale, innovation and growth
The capital raise will be used to fund growth in the Fleet sector as well as launch new products addressing additional verticals with Zubie's connected-car solutions.
"This investment in Zubie underscores the market need for an end-to-end connected car solution," said Ron LeMay, Chairman of the Board, Zubie, Inc. "There are a lot of companies focused on data collection – and there's a lot of data out there. The marketplace needs more companies that help organize the data and extract business insight – and that's where Zubie fills a void. We're thrilled with the perspectives Paget and Dennis will bring to the board."
"With a more mature hardware market, the opportunity for differentiation is in delivering usable insights in a simple, reliable package," said Gary Tucker, CEO of Zubie. "For Zubie, 2019 will be about improved usability of our existing insights and solutions in the Fleet market, while addressing a need for real-time insight for rental businesses."
New Board Members
With this investment, Zubie also announced the addition of telecommunications veterans Paget L. Alves and Dennis Huber to its Board of Directors. Mr. Alves and Mr. Huber have a combined 50+ years experience in telecommunications, adding additional financial, operational and marketing experience along with expertise in product development and IT to an already talented executive slate.
About Paget L. Alves
For more than a decade Paget L. Alves rose through the ranks at Sprint Corporation, most recently serving as Chief Sales Officer. He previously served as President of that company's Business Markets Group; President, Sales and Distribution; Senior Vice President, Enterprise Markets and President, Strategic Markets.
Prior to Sprint Corporation, Mr. Alves served as President and Chief Operating Officer of Centennial Communications Corporation and President and CEO of PointOne Telecommunications, Inc.
Mr. Alves currently serves on the boards of directors of Yum! Brands, Inc.; Synchrony Financial Inc.; International Game Technology PLC; and Ariel Investments LLC.
Mr. Alves received a B.S. in Industrial and Labor Relations and a J.D. from Cornell University
About Dennis Huber
Dennis Huber is President of MJH Consulting, LLC. With more than 30 years experience in telecommunications, he leads dynamic organizations to achieve improvements in revenue growth, cost management and operational performance.
Prior to founding MJH Consulting, Mr. Huber was Executive Vice President Network Services for CenturyLink, where he led the CTO, CIO, Product Development, Network Engineering, Design and Construction organizations.
Previously Huber was SVP Network Services, IT and Corporate Strategy at Embarq; President of Sprint North Supply Sprint; SVP Network and IT at Sprint PCS and VP Network, IT and Product Development at Sprint Long Distance.
Dennis holds a BSBA, Double Major: Management and Marketing, Rockhurst University, Kansas City, MO and a MBA from Rockhurst University, Kansas City, MO.
He serves on the Board of Rockhurst University.
Since 2012, Zubie's end-to-end connected-car technology has delivered real-time information about vehicles and drivers in an easy-to-use format to help businesses manage and optimize their fleets. Headquartered in Minneapolis, Zubie was the winner of the "2015 Best Insurance Telematics Product" award from TU Automotive, and the 2016 Tech CARS award for "Best OBDII Device with Software and Services" from Auto Connected Car. Visit zubie.com for more information.
About BP Ventures
BP Ventures identifies and invests in private, high growth, potentially game-changing technology companies, accelerating cutting-edge innovations across the entire energy spectrum. Since 2006, BP Ventures has invested over $450m in technology companies across more than 40 entities with more than 200 co-investors.
BP Ventures focuses on connecting and growing new energy business, focused on our core upstream, downstream and alternative energy businesses. In addition, it makes strategic equity investments in advanced mobility, low carbon and digital. For more information, visit www.bp.com/ventures
About Melody Capital Partners
Melody Capital Partners is a private investment firm with a unique strategy of creating financing solutions in partnership with borrowers. Melody manages over $1.5 billion in capital across two strategies, senior secured loan origination and direct lending in North America and wireless infrastructure, telecommunications service providers and related businesses. For more information on Melody Capital Partners, please visit www.melody.com
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|11/08/2014||$8,000,000||Castrol InnoVentures, Comporium, Magna International, NGP, OpenAir Equity Partners|
|26/05/2016||$6,000,000||Castrol InnoVentures, Comporium, Magna International, Melody Capital Partners, Nokia Growth Partners, OpenAir Equity Partners|
|07/02/2019||undisclosed||BP Ventures, Melody Capital Partners|