Fleetio Raises over $450 Million Series D and Acquires Auto Integrate to Create Customer-Centric One-Stop-Shop for Fleet Maintenance
Strategic acquisition creates comprehensive fleet maintenance ecosystem serving 8 million vehicles across 110,000+ repair shops in North America Combined business valued at $1.5B+
Fleetio, a leading fleet optimization software platform, today announced the acquisition of Auto Integrate, the premier maintenance authorization platform, in a landmark deal establishing Fleetio as a preferred solution for fleet maintenance. The company announced simultaneously the successful closing of over $450 million to finance the acquisition, valuing the combined business at over $1.5 billion. The round was co-led by existing Fleetio investor Elephant and new investor Growth Equity at Goldman Sachs Alternatives.
This strategic union creates a platform designed with customer-centricity to serve fleet operators of all sizes across North America. The combined entity will service over 8 million vehicles and process more than 13 million repair orders per year through its network of 110,000+ repair shops across the United States, Canada, and Mexico.
"This acquisition is transformative for our ability to equip customers with the simplest and most efficient solution for fleet maintenance and management," said Jon Meachin, CEO of Fleetio. "By bringing together Fleetio's comprehensive fleet optimization capabilities with Auto Integrate's specialized maintenance authorization network, we're creating a truly customer-focused, end-to-end solution that addresses the most critical pain points fleet operators face today.”
“From day one, our focus has been on one simple question: how can we create the most value for our customers?” said Fleetio Founder and Board Chair, Tony Summerville. “Bringing Fleetio and Auto Integrate together is a game-changer for both fleets and repair shops, ensuring a seamless, more connected maintenance experience. Whether a shop does a little or a lot of fleet business, this combination eliminates friction and makes it easier than ever for shops to work with more fleets.”
Auto Integrate's software enables repair shops to electronically submit repair orders for approval, dramatically reducing vehicle downtime and improving operational efficiency. This capability will fully integrate with Fleetio's comprehensive platform, creating a seamless experience for businesses managing complex maintenance operations.
"Our customers have consistently asked for a more integrated approach to maintenance management," said Terry Bartlett, CEO of Auto Integrate, who will join Fleetio's executive leadership team. "By joining forces with Fleetio, we're able to deliver exactly what they need – a unified platform that eliminates communication barriers between fleet operators and repair facilities, and ultimately keeps vehicles on the road longer at lower costs."
Fleetio is committed to substantial investments in research and development to further enhance Auto Integrate's platform and to integrate its functionality within the Fleetio ecosystem. These investments will directly benefit existing Fleetio and Auto Integrate customers, including Fleet Management Companies (FMCs), rental car operators, repair shops, and other vendors, while expanding capabilities for Fleetio's growing customer base.
"Jon, Tony, and Terry are brilliant business operators. Combining their two companies creates a vast dataset of maintenance operations that can unlock unique insights into fleet maintenance trends and predictive maintenance opportunities," said Brendon Hardin, Vice President with Growth Equity at Goldman Sachs Alternatives who is also joining the Board. "This isn't just about growing the business - it's about Fleetio's unwavering commitment to customer success."
“Fleetio’s strategic acquisition of Auto Integrate represents precisely the kind of transformative opportunity Elephant seeks to support, one that fundamentally elevates the customer experience by combining powerful, complementary technologies," said Jeremiah Daly at Elephant. “We are excited to deepen our partnership with Fleetio as they continue to redefine what’s possible in fleet maintenance and proudly support their vision for a streamlined, end-to-end ecosystem that enhances operational efficiency for North America’s fleets.”
