Work Truck Solutions Receives Investment From Rubicon Technology Partners

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

Rubicon’s investment will accelerate the company’s product initiatives and strengthen relationships with OEMs, upfitters and dealerships to help stakeholders drive growth and profitability, Work Truck Solutions officials stated in a press release announcing the collaboration.

“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,” said Kathryn Schifferle, founder and chief vision officer. “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 is committed to assuming a leadership role in the commercial vehicle market by delivering thoughtful software, consultative services and tailored partnerships, according to CEO Aaron Johnson.

“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,” Johnson stated.

Rubicon Technology Partners is a middle-market private equity firm that invests in enterprise software companies to help grow and scale their businesses.

“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.