Dhruv S. Parekh has joined Masternaut, a leading pan-European provider of fleet telematics solutions, as Chief Executive Officer. Dhruv joins Masternaut from Capstone, a group of operational executives that work closely with portfolio companies of Private Equity firm KKR & Co. During his tenure at Capstone, Dhruv worked with technology companies around the globe to drive major growth programmes.
Dhruv will focus on leveraging Masternaut’s leading technology platform to bring continuous innovation and value to the commercial fleet market through the adoption of telematics. Masternaut’s next-generation platform, Masternaut Connect, harnesses telematics data and provides both business productivity applications and the promotion of social benefits including road-risk reduction and emission management.
Commenting on the opportunity, Dhruv commented, “I am excited to be joining Masternaut. Masternaut is a leader in telematics with a proven track record of delivering value to thousands of customers across Europe. The telematics industry is in the early stages of a major trend in connected vehicles, and Masternaut is uniquely positioned to lead the market in technology and service innovation. The company has a strong and experienced team, backing from a leading growth equity investor in Summit Partners and strategic support from Fleetcor Technologies, the leading global fuel card and speciality payments processing company. This combination allows Masternaut to focus on delivering differentiated solutions to the commercial fleet market. We are also at the front end of a major trend in connected vehicles and Masternaut will continue to be the innovation leader.”
“The work that the Masternaut team and our 24×7 mission critical product support play an important social and environmental role in helping our clients achieve their social responsibility goals. Improving driver and road safety as well as minimising fuel waste and emissions are core to the mission of Masternaut. I am very proud of the value our teams deliver every day and look forward to multiplying our positive impact by providing our technology and services to every vehicle and driver on the road.”
Han Sikkens, Managing Director at Summit Partners and Masternaut Board Director commented, “We are delighted to have an experienced global technology executive taking the helm at Masternaut to lead the next stage of the company’s growth.”
Ali Ashurov, Managing Director at FleetCor and Masternaut Board Director, added, “Dhruv’s many years of experience driving innovation and scaling organisations are a perfect complement to the team at Masternaut and to our joint vision for the company. We are excited to have him on board.”
Dhruv holds Bachelor’s degrees in Mechanical Engineering and Industrial Engineering, as well as a Master’s degree in Industrial Engineering all from the Georgia Institute of Technology.
