Fleetio, a Birmingham, Alabama-based fleet management and maintenance software company, has raised over $450 million in Series D funding.
The company also announced the acquisition of Auto Integrate, a maintenance authorization platform, a combined business valued at $1.5B+.
Investors
The funding round was co-led by Elephant and Growth Equity at Goldman Sachs Alternatives.
Elephant is a venture capital firm founded in 2015, with offices in Boston, Massachusetts, and New York City. The firm specializes in early-stage investments, focusing on enterprise software, consumer internet, and mobile markets.
Goldman Sachs is a global investor in alternatives, managing over $500 billion in assets. It invests across private equity, private credit, real estate, infrastructure, sustainability, and hedge funds. Since 2003, Growth Equity at Goldman Sachs Alternatives has invested over $13 billion in growth-stage and technology-driven businesses across multiple industries, including enterprise technology, financial technology, consumer, and healthcare.
About Fleetio
Founded in 2012, Fleetio provides cloud-based solutions to help businesses manage, repair, and optimize their vehicles and assets. The company’s offerings include fleet maintenance, fuel management, vehicle tracking, and asset management. Fleetio’s platform enables organizations to track, analyze, and enhance their fleet operations by managing vehicles, equipment, parts, drivers, and more. The platform powers over 7,500 fleets of all sizes across more than 100 countries and serves a wide range of industries.
Funding Details
Company: Rarestep, Inc. (Fleetio)
Raised: $450.0M
Round: Series D
Funding Date: March 2025
Lead Investors: Elephant, Growth Equity at Goldman Sachs Alternatives
Additional Investors:
Company Website: https://www.fleetio.com/
Software Category: Fleet Management and Maintenance
Source: https://www.fleetio.com/resources/press/fleetio-raises-series-d-and-acquires-auto-integrate