Fleetio Valuation, Funding & Investors
Fleetio is valued at $1.5B as of March 2025.
Last Fleetio valuation
$1.5B
Series D · Mar 2025
Last Fleetio funding round
$450M
Series D · Mar 2025
Cumulative funding Fleetio raised
$620M
across 5 funding rounds
Key investors in Fleetio
Elephant
Bossa Invest
Endeavor Catalyst
Goldman Sachs Asset Management
About Fleetio
Fleetio is an Atlanta-headquartered web platform managing vehicle maintenance for fleets worldwide. It automates work orders, parts inventory, and fuel logging with integrations to Fuelman and Geotab. Users access DVIR forms and IFTA reporting on iOS/Android. Fleetio serves 6,000+ organizations including UPS. Founded in 2012, it tracks 3 million assets.
Founded
2011
HQ
United StatesWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Valuation
$1.5B (Mar 2025)
Fleetio Valuation
Fleetio is currently valued at $1.5B, based on its Series D in March 2025.
The $450M round was led by Elephant and Goldman Sachs Asset Management.
Fleetio valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Mar 2025 | Series D | $1.5B |
Fleetio Funding History
Fleetio has raised a total of $620M across 5 funding rounds.
Fleetio's first fundraising round was a $800K seed round in September 2016. The most recent completed round was a $450M Series D in March 2025.
Fleetio funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Mar 2025 | Series D | Elephant (lead); Goldman Sachs Asset Management (lead) | $450M | $1.5B | Fleetio, a fleet optimization software platform founded in 2012 and headquartered in Birmingham, Alabama, announced its Series D funding round on March 25, 2025. The company raised over $450 million in financing co-led by existing investor Elephant and new investor Growth Equity at Goldman Sachs Alternatives. Simultaneously, Fleetio acquired Auto Integrate, a premier maintenance authorization platform, with the combined business valued at over $1.5 billion. The Series D round was designed specifically to finance this transformative acquisition. Fleetio's platform provides cloud-based solutions for fleet management, maintenance, fuel management, vehicle tracking, and asset management. At the time of the funding round, Fleetio powered more than 7,500 public and private fleets of all sizes across more than 100 countries, serving a wide array of industries. The company's marketplace supports a vast maintenance provider network, enabling fleets to efficiently manage outsourced maintenance and repair operations. The strategic acquisition of Auto Integrate combined Fleetio's fleet optimization capabilities with Auto Integrate's maintenance authorization network to create an end-to-end, customer-centric fleet maintenance solution serving fleets, repair shops, and rental operators across North America and beyond. The combined business aimed to unlock unique insights into fleet maintenance trends and predictive maintenance opportunities by leveraging the vast dataset of maintenance operations from both companies. Growth Equity managing partner Brendon Hardin joined Fleetio's board following the financing close. |
| May 2023 | Series C | Elephant (lead) | $145M | - | Fleetio is a Birmingham, Alabama-based fleet management software-as-a-service (SaaS) company that provides cloud-based tools for managing vehicle maintenance, asset optimization, fuel tracking, inspections, work orders, and integrations with maintenance shops for fleets including cars, trucks, vans, heavy equipment, and trailers. The platform serves over 6,000 customers across 100 countries, supporting more than 800,000 vehicles and assets, with metrics like 14 million digital inspection forms, 12 million fuel transactions, and 2 million work orders processed in 2023. In May 2023, Fleetio closed a $144.7 million Series C funding round led by Boston-based venture capital firm Elephant, following prior raises of $3.5 million in 2019 and $21 million Series B in 2020. The Series C funding, announced around June 2023, was intended to accelerate research and development, expand the product suite, and grow the team, which exceeded 200 employees nationwide and reached 260 'Fleetians' by year-end. Elephant, co-founded by Jeremiah Daly and Warby Parker founder Andy Hunt, doubled down on Fleetio due to its strong performance and over 50% year-over-year growth reported at the time, alongside more than 45% YoY growth for 2023 overall. The round coincided with leadership changes, including Jon Meachin promoted to CEO from COO and Tony Summerville transitioning to executive chairman, plus new board member John M. Connolly from Eaglehead Capital and Goldman Sachs Growth Group. Fleetio expanded partnerships, such as with Ford Pro for fleet management software, and planned 2024 releases including actionable insights, tire health data, and OEM warranty tracking. |
| Nov 2020 | Series B | Elephant (lead); Endeavor Catalyst; Bossa Invest | $21M | - | Fleetio is a Birmingham, Alabama-based fleet management software-as-a-service (SaaS) company founded in 2011, providing cloud-based solutions for vehicle maintenance, fuel management, asset tracking, and optimization to help businesses manage fleets of vehicles, equipment, tools, and trailers. The company raised $21 million in a Series B funding round on approximately November 10, 2020, led by Boston and New York-based venture capital firm Elephant, which invests in enterprise software, consumer internet, and mobile markets. Elephant's co-founder Jeremiah Daly joined Fleetio's board following the investment from their $375 million fund. Prior to the Series B, Fleetio had raised $3.5 million in growth capital in 2019. The Series B funds were intended to accelerate product development, expand services, and support rapid team growth, with plans to hire at least 50 new employees in engineering, product management, sales, marketing, and customer experience within the next year. At the time, Fleetio was experiencing strong growth. This round preceded larger subsequent raises, including a $144.7 million Series C in 2023 or later led by Elephant, which highlighted over 50% year-over-year growth and a team of over 200 people, and a $450 million Series D in March 2025 co-led by Elephant and Goldman Sachs Alternatives' Growth Equity, valuing the company (post-acquisition of Auto Integrate) at over $1.5 billion. |
| Mar 2019 | Series A | - | $4M | - | Fleetio raised $3.5 million in a growth capital round on March 18, 2019. This followed prior funding including a seed round of $750k in 2016. The Birmingham-based company provides fleet management software for vehicles, equipment, and maintenance. The 2019 round contributed to Fleetio's funding trajectory, leading to a $21 million Series B in 2020 and a $144.7 million Series C later announced for R&D acceleration and team expansion. Fleetio reported over 50% year-over-year growth at the Series C stage and employed over 200 people nationwide. |
| Sep 2016 | Seed | - | $800K | - | - |
Who has invested in Fleetio?
4 investors have backed Fleetio across its funding rounds, including Elephant, Bossa Invest, Endeavor Catalyst and Goldman Sachs Asset Management.
Lead investors include Elephant and Goldman Sachs Asset Management.
Fleetio Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| Boston, MA | 3 | Lead | Nov 2020 | |
| New York City, NY | 1 | Participant | Nov 2020 | |
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Start Free TrialAcquisitions by Fleetio
Fleetio has acquired 1 company to date.
Last acquisition by Fleetio was on March 25th 2025. Fleetio acquired Auto Integrate for undisclosed valuation.
Latest Acquisitions by Fleetio
| Description | Auto Integrate is a fleet maintenance platform for authorizing repairs between operators and service providers. It enables digital submissions, approvals, payments, and reporting integrated with management systems. Atlanta-headquartered, it optimizes workflows for commercial fleets in North America. |
| HQ Country |  |
| HQ City | - |
| Deal Date | 25 Mar 2025 |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
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Fleetio Competitors
Fleetio competitors include listed companies like Wuxi Boton Technology and SureKAM Corporation, and private ones like ElasticRun, EasyPost, IBS Software Services and Cart.com.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
 Pune | Private | - | - | $1.5B | - | |
| Salt Lake City, UT | Private | - | - | $1.5B | - | |
| Thiruvananthapuram | Private | $270M | $90M | $1.4B | 5.4x | |
| Houston, TX | Private | - | - | $1.6B | - | |
 China | Publicly listed | $516M | $55M | $1.3B | - | |
| China | Publicly listed | $1.2B | $93M | $1.7B | 1.0x |
Fleetio Public Comps
Fleetio is still privately-owned, but its public comps include Wuxi Boton Technology, SureKAM Corporation, Blackbuck, Transfar Zhilian Co, GigaCloud Technology, Keytop Parking, GuoChuang Software, Beijing eGova, Jiangsu Tongxingbao and JSTI.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $516M | $55M | 2.4x | - | 22.6x | - | |||
| $1.2B | $93M | 1.0x | 1.0x | 13.4x | 18.6x | |||
| $67M | $16M | 16.5x | 14.5x | 68.3x | 53.2x | |||
| $3.7B | $258M | 1.0x | 1.3x | 14.0x | 12.5x | |||
| $1.3B | $158M | 1.6x | 1.4x | 12.8x | 10.6x | |||
| $124M | $29M | 7.5x | - | 32.3x | - | |||
| $220M | ($17M) | 4.8x | - | (60.4x) | - | |||
| $90M | ($52M) | 8.4x | - | (14.5x) | - | |||
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Common questions about Fleetio
| When was Fleetio founded? | Fleetio was founded in 2011. |
| Where is Fleetio headquartered? | Fleetio is headquartered in United States. |
| Is Fleetio publicly listed? | No, Fleetio is a private, VC-backed company. |
| What is Fleetio's valuation? | Fleetio was last valued at $1.5B in its Series D in March 2025. |
| How much funding has Fleetio raised? | Fleetio has raised $620M across 5 funding rounds. |
| What was Fleetio's last funding round? | Fleetio's last funding round was a $450M Series D in March 2025, led by Elephant and Goldman Sachs Asset Management. |
| Who are Fleetio's investors? | Fleetio's investors include Elephant, Endeavor Catalyst, Goldman Sachs Asset Management and Bossa Invest. |
| Which companies are comparable to Fleetio? | Companies comparable to Fleetio include ElasticRun, EasyPost, IBS Software Services, Cart.com, Wuxi Boton Technology and SureKAM Corporation. |
| How many companies has Fleetio acquired? | Fleetio has acquired 1 company, including Auto Integrate. |
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