Investment positions Work Truck Solutions to accelerate growth and expand leadership position in commercial vehicle software market

Work Truck Solutions®, a leading software provider for the commercial vehicle industry, today announced that it has secured a strategic majority investment from Rubicon Technology Partners (“Rubicon”), a private equity firm based in Boulder, Colorado, that is focused exclusively on investing in and growing software companies.

Kathryn Schifferle, Founder and Chief Vision Officer, commented, “I founded Work Truck Solutions to solve big challenges in the commercial vehicle industry by providing technology for dealers and their entire supply chain to better serve their business customers. Due to the increasing focus on this critical ecosystem, we sought the right partner to help us further scale our solutions. We are very excited to have found Rubicon, who will provide experience, resources, and additional enthusiasm to continue building on the foundation we’ve established.”

Work Truck Solutions remains committed to its leadership role in the commercial vehicle market by delivering the same thoughtful software, consultative service and tailored partnerships that the market has come to expect. Rubicon’s investment will further accelerate product initiatives, strengthening relationships with OEMs, upfitters, and dealerships, and helping all stakeholders drive growth and profitability.

Echoing Schifferle’s sentiments, Work Truck Solutions CEO Aaron Johnson said, “We’re extremely proud of what we’ve built over the past 12 years and are confident this new chapter will enable us to accelerate our growth, in both product and team. Rubicon brings a highly experienced team, substantial financial resources, and operational capabilities to the partnership. What an exciting time with a very bright future, not only for our company, but also for our customers.”

“From our first introduction to Kathryn, Aaron, and the team, it quickly became clear why they are regarded as pacesetters in the commercial vehicle ecosystem,” said Ben Falloon, Principal at Rubicon. “The world’s largest automotive manufacturers, upfitters, and dealerships have entrusted their commercial vehicle business with Work Truck Solutions, which is a testament to both their unique value proposition in the market today, and also their forward-looking product vision. We couldn’t be more excited to partner with the entire Work Truck Solutions team on this next phase of growth.”

Presidio Technology Partners, LLC served as the exclusive financial advisor to Work Truck Solutions.

About Rubicon Technology Partners

Rubicon Technology Partners is a middle-market private equity firm that invests in enterprise software companies with innovative products and talented management teams to help grow and scale their businesses. Rubicon utilizes a collaborative approach to enable companies to adapt to the changing requirements of their businesses as they grow and scale using a set of proprietary processes, best practices and a portfolio-wide engagement model. Rubicon has over $4 billion in assets under management and is headquartered in Boulder, Colorado with additional offices in New Haven, Connecticut and San Mateo, California. To learn more about Rubicon, please visit www.rubicontp.com.