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Company Overview

Azuga is a cloud-based, connected-vehicle fleet management solutions provider.

Website:
azuga.com

Headquarters:
San Jose, California

Fund:
Sumeru Equity Partners

Investment Date:
March 2018

Sector:
Software

SEP Contact(s):
Mark Haller, Jack McCabe, Paul Mercadante, Sanjeet Mitra

Status:
Held

Ananth Rani, CEO

Azuga’s connected car platform, Azuga ONE, serves various market segments: Commercial Fleet loss control in the Insurance vertical, Commercial fleets looking for GPS tracking and accident reduction, and State governments working on road usage charging (RUC). Over 5000 fleet customers use Azuga for their operational and safety improvement needs. Azuga runs the largest insurer-backed Commercial Fleet program in North America. Over 1000 customers, representing over 60,000 vehicles are fully subsidized by the Insurance carrier. By reducing accident frequency and severity by over 50%, we’ve delivered significant ROI to both insurance carriers and the insured fleet. No one has achieved the intersection of Fleet management and Insurtech at scale. We are really proud of this and the support we’ve received from SEP since their involvement in March 2018.

Azuga has achieved consistent growth and a disruptive presence at the intersection of Fleet management and Insurtech. We are very proud of this rapid evolution which has been achieved with the support provided by the SEP team.
This was my first experience with growth-oriented private equity. The results, arising from a combination of capital, hands-on operator experience and executive team building have been stellar.
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