Fleetio Raises over $450 Million Series D and Acquires Auto Integrate to Create Customer-Centric One-Stop-Shop for Fleet Maintenance
BIRMINGHAM, AL, March 25, 2025 (GLOBE NEWSWIRE) -- 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."
About Fleetio
Fleetio, the leading fleet optimization platform, provides comprehensive solutions and resources to run, repair and optimize vehicles and assets, allowing fleets to gain control of what's happening today, stay ahead of what's coming tomorrow and confidently deliver results for their business. Founded in 2012, the company's cloud-based platform and mobile app arm fleets with the tools they need to stay on top of preventive maintenance, extend the life of business assets, reduce downtime and maximize the utilization of service vehicles. Fleetio's marketplace supports a vast maintenance provider network, enabling fleets to efficiently manage outsourced maintenance and repair. Fleetio powers more than 7,500 public and private fleets of all sizes in more than 100 countries across a wide array of industries.
About Elephant Partners
Elephant is a venture capital firm focused on the enterprise software, consumer internet and mobile markets.
About Growth Equity at Goldman Sachs
Goldman Sachs (NYSE:GS) is one of the leading investors in alternatives globally, with over $500 billion in assets and more than 30 years of experience. The business invests in the full spectrum of alternatives including private equity, growth equity, private credit, real estate, infrastructure, sustainability, and hedge funds. Clients access these solutions through direct strategies, customized partnerships, and open-architecture programs.
The business is driven by a focus on partnership and shared success with its clients, seeking to deliver long-term investment performance drawing on its global network and deep expertise across industries and markets.
The alternative investments platform is part of Goldman Sachs Asset Management, which delivers investment and advisory services across public and private markets for the world's leading institutions, financial advisors and individuals. Goldman Sachs has more than $3.1 trillion in assets under supervision globally as of December 31, 2024.
Since 2003, Growth Equity at Goldman Sachs Alternatives has invested over $13 billion in companies led by visionary founders and CEOs. The team focuses on investments in growth stage and technology-driven companies spanning multiple industries, including enterprise technology, financial technology, consumer and healthcare.
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Clark Maxwell Fleetio [email protected]