Published May 25, 2016
Zubie, a connected-car platform that collects vehicle and driver data analytics, has secured $6 million in additional funding, according to a news release.
The Mount Pleasant-based company has previously raised around $22 million. Melody Capital Partners, a New York City-based private investment firm, and existing Zubie investors — OpenAir Equity Partners, Castrol innoVentures, Comporium, Nokia Growth Partners and Magna — participated in the latest round.
“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,” Omar Jaffrey, managing partner of Melody, said in the release.
The funding will be used to improve the Zubie and ZinC Open API platforms, scale its products for enterprise customers and hire more employees, the release said. The company declined to share how many employees it has currently.
Zubie users plug a cellular device into a car’s onboard diagnostics port to capture data about both car and driver. Users can use the data to determine how to drive better or when their car needs to be serviced, for example. With customer consent, Zubie shares the analytics with enterprises, small businesses and consumers.
Since its market entry in 2012, Zubie has formed relationships with insurance carriers, large and small-business fleet operators, mobile carriers and automotive dealers.
“The telematics and connected-car industry is expanding globally, and we are well positioned to continue our growth,” Zubie CEO Tim Kelly said in the release.