Funds will support further growth across Decisiv’s core network of users and expansion into new asset management and data services offerings
GLEN ALLEN, VA. (PRWEB) OCTOBER 26, 2022
Decisiv, Inc., the industry leader in Service Relationship Management (SRM) solutions, announced today the completion of a $15 million financing with investment funding provided by Morgan Stanley Expansion Capital. Decisiv will use the capital to support ongoing expansion across its core network of users and into new asset management and data services offerings.
“Morgan Stanley’s decision to provide investment funds to Decisiv reflects how significantly and successfully we are driving higher profitability and improving operations for users across our SRM Ecosystem,” said Dick Hyatt, President and CEO of Decisiv. “This financing will support our continuing development of asset management solutions and data services, and our plans to extend the SRM Ecosystem to incorporate major new suppliers and partners in our core network.”
Across the commercial vehicle industry, Decisiv SRM is being used by more than 74,000 fleet users and over 5,000 service provider locations to drive greater asset utilization, improve operations, generate higher levels of revenue and boost profitability. In 2022, usage on the platform for managing more than seven million assets will surpass 25 million service events. The Decisiv SRM Ecosystem, a network that enables delivery of real time information at the point of service, includes more than 750 points of integration.
For every asset, from acquisition to disposal, SRM provides intelligent asset and service management systems for the industry’s leading truck OEMs and component suppliers, including Volvo, Mack, Paccar, Isuzu, Hino, DTNA, and Michelin and Cummins. The SRM platform streamlines the entire service event process and improves financial and operational control over maintenance activities and costs. Today, the Decisiv SRM Ecosystem is delivering unrivaled asset availability and performance and helping fleets, service providers and OEMs achieve the goal of zero unplanned downtime.
“Decisiv already has the largest asset service management ecosystem in the industry, and proven technology that is delivering quantifiable value to its customers,” said Stanley Hua at Morgan Stanley Expansion Capital. “The company also has long-standing strategic agreements with customers and a clear direction for growth. We believe investing in a partnership with Decisiv will further accelerate its expansion through the continued development of market leading industry solutions.”
About Morgan Stanley Expansion Capital
Morgan Stanley Expansion Capital is the growth-focused private investment platform within Morgan Stanley Investment Management. Morgan Stanley Expansion Capital targets growth equity and credit investments within technology, healthcare, consumer, digital media and other high-growth sectors. For over three decades, Morgan Stanley Expansion Capital has successfully pursued growth investment opportunities and has completed investments in over 200 companies, leveraging the global brand and network of Morgan Stanley. For further information about Morgan Stanley Expansion Capital, please visit http://www.morganstanley.com/im/expansioncapital.
About Decisiv, Inc.
Virginia-based Decisiv is the provider of the largest asset service management ecosystem for the commercial vehicle industry. The Decisiv Service Relationship Management (SRM) platform is the foundation for the nearly 5,000 service locations across North America that manage more than 4 million service and repair events for commercial vehicles annually. Through Decisiv’s SRM platform, dealers, service providers, manufacturers, and fleet and asset managers can communicate and collaborate during every service event. The SRM solution streamlines the entire asset service management process bringing all the necessary diagnostic, telematics and asset information together for all participants, and delivers it at the point of service. This level of connectivity and collaboration drives an unrivaled level of service performance and asset optimization that gets trucks back on the road faster so fleets see higher revenue per asset and lower costs. Service providers using SRM establish efficient communication, better controls, and increased productivity in service operations that enables them to become trusted partners to fleets. For manufacturers, SRM enhances the value of service networks and provides data and analytics to help develop more reliable and efficient commercial assets. For more information, visit www.decisiv.com.
Contact:
Mark Wasilko
VP Marketing
Decisiv
Phone: (804) 762-4153