Venture Capital Access Online | The eMarketplace for the Venture Capital Industry

 

Bookmark and Share   

Home

Marketplace
Database
Deals
News
Store
Resources
Contact Us

 

 

 

News

VCPro Database 2014 (17th Edition) Now Available! Newly released


Venture Capital Deals Spreadsheet Now Available Newly released


 

Connected Car Technology Leader Zubie Drives Forward with $10 Million in Series A Funding from Castrol innoVentures, Comporium and OpenAir Equity Partners

The Zubie service connects drivers to their cars so they can monitor vehicles in real time, diagnose repair problems and take the hassle out of daily driving; Company is in strong leadership position to capitalize on evolution and merging of connected home and connected car

CHARLESTON, S.C., December 13, 2013-- Zubie, a connected car service provider focused on maximizing connected car capabilities for consumers and businesses, announced it has raised $10 million in Series A funding from investors; Castrol innoVentures, the innovation arm of global lubricant giant Castrol; communications innovation leader Comporium, Inc., and OpenAir Equity Partners. Additionally, the company announced John M. Barnes, Jr., executive vice president – marketing & business solutions for Comporium and Jonathan Tudor, venture director for Castrol innoVentures will join the Zubie Board of Directors.

Launched nationally in September, the Zubie Service has the potential to make driving and owning a car safer, easier and less expensive. It uses a cellular device -- the Zubie Key -- to plug directly into a car's On-Board Diagnostics (OBD) port and capture valuable vehicle and driving data for car owners and drivers -- car diagnostics, family safety location-based alerts, driving behavior reports and several features to make daily driving easier – including travel coordination tools. The Zubie Service is currently sold through Amazon.com, BestBuy.com, the Zubie.co Storefront, Telesales and via channels for enterprise customers. It is iPhone and Android-compatible.

The driving and vehicle data that Zubie captures is also valuable to enterprise partners in the Insurance, Automotive Services and Advertising industries. Zubie plans to integrate these partners into the Zubie experience in a way that directly benefits its users through Zubie’s SmartOffer™ technology.

“We are delighted to support such an innovative company that is developing intuitive connected car solutions now and looking to the future car market," said Angel Gambino, Smart Mobility General Manager, Castrol InnoVentures. “Our investment in Zubie reflects our ongoing interest in technologies that have significant potential to offer a predictive, timely, contextual, convenient and simple capability to the mobile consumer of the future.”

Zubie investor Comporium has experience in the connected home market and sees a fit with Zubie’s product in ways that will delight the customer with the merging and evolution of the connected home and the connected car.

“The vision of the Zubie team is in direct alignment with Comporium’s view of the consumer’s evolving connected lifestyle,” said Barnes. "We are pleased with the progress and advances of Zubie to date, and excited by its clear potential to be the leader in connected car technology."

The Zubie Service uses a proprietary AlwaysSmart™ technology, meaning it is always on and always connected. Its car and driving data is transmitted straight from the Zubie Key to the cloud via built-in cellular data connection. From the moment the Zubie key is plugged in, the car is connected and Zubie is collecting data, totally independent of any phone or other device.

The always-on connection delivers a continuous and total picture of car and driving activity valued by both users and potential third-party Zubie partners. Customers have the option of sharing their data in exchange for services and discounts from the partners. This in turn enables the company to aggregate a tremendous amount of actual and accurate driver, trip and car data on the Zubie platform that can be used by partners such as insurance companies, auto dealers and resellers for customer relationship programs.

"Zubie is perfectly poised to be the point of connection where consumers can save time and money and providers can better understand consumer needs and provide compelling offers. We're very excited that Castrol innoVentures and Comporium have seen this potential," said Tim Kelly, Zubie chief executive officer.

About Zubie

Zubie is a mobile and Internet services company focused on maximizing connected car capabilities for consumers and businesses. The company, formerly known as GreenLight Connectivity Solutions, was formed in 2012, and is headquartered in Charleston, SC, with operational offices in the Minneapolis area. http://www.zubie.co

About Castrol innoVentures

The Castrol innoVentures group was created as a separate unit by Castrol Lubricants to focus on investing in and building businesses that significantly improve customer experiences in the automotive aftermarket, among other sectors. The group makes strategic investments in technology start-ups that help its customers improve efficiencies. They also run a broader program of open innovation, exemplified by the Castrol 20/20 challenge events in London, New York and Shanghai. http://www.castrolinnoventures.com/

About Comporium Communications

Comporium is a privately owned, diversified communications company with businesses that enable convergence of content with screens. Comporium focuses on providing technologically advanced services that its customers demand. Its investments combine data, switching, transport and intellectual property that recognize the emerging importance of the interconnected world. For more information, visit www.comporium.com.

About OpenAir Equity Partners

OpenAir Equity Partners is a venture capital firm solely focused on the wireless communications and mobile Internet sectors. Our team is comprised of wireless pioneers and experts with a collective 65 years of wireless industry operating experience and 22 years of wireless investing experience. www.openairep.com

Contact:
Parks Communications for Zubie
Cindy Parks, 913-526-6912


News Index

Venture Capital Database

Venture Capital Deals Spreadsheet

 

 NEWS

Latest VC News
VC News Archive
News Search
Venture Capital Deals New
RSS News Feed

List Your Firm

Entrepreneurs
Investors
Advisors

Venture Capital Database

VCPro Database
Download Trial
Buy Now

Venture Capital Deals

vcaDeals
Download Sample
Buy Now

VC Tools

Venture Capital StarterPak
VC Pitch
Private Placement Memorandum
Confidentiality Agreement Package
Series A Preferred Term Sheet
Bridge Financing Contract
Employment Agreements
Understanding Employee Stock Options

Business Plan Tools

Free Business Plan Template
Sample Business Plans
Business Plan Pro

 

 

Copyright © 1998-2014 Access InterComm  All rights reserved. 
Site Map | Privacy Statement | Legal Notice & Disclaimer