Fleetio said it is creating a “one-stop-shop for fleet maintenance” after raising over $450 million in a Series D funding round and acquiring Auto Integrate.
The new funding will finance the acquisition, which will add Auto Integrate’s maintenance authorization platform to Fleetio’s fleet optimization platform, Fleetio said in a Tuesday (March 25) press release.
“Bringing Fleetio and Auto Integrate together is a game changer for both fleets and repair shops, ensuring a seamless, more connected maintenance experience,” Tony Summerville, Fleetio founder and board chair, said in the release.
Auto Integrate’s software, which enables repair shops to electronically submit repair orders for approval, will fully integrate with Fleetio’s platform, according to the release.
The software’s capabilities will join the existing ones offered by Fleetio, which include solutions for running, repairing and optimizing vehicles and assets, the release said.
The combined entity will service over 8 million vehicles and process more than 13 million repair orders per year through more than 110,000 repair shops in the United States, Canada and Mexico, per the release. The combined business is valued at over $1.5 billion.
Auto Integrate CEO Terry Bartlett, who will join Fleetio’s executive leadership team, said in the release that the combination will deliver the more integrated approach to maintenance management that customers have been asking for.
Fleet management is becoming a beacon of connectivity, according to the PYMNTS Intelligence and Visa collaboration, “2023-2024 Growth Corporates Working Capital Index: Fleet and Mobility Edition.”
Fleetio said in January that during the second half of 2024, it enhanced its software solution for fleet managers by adding Fleetio Go in Spanish, service program automation, part warranties tracking, debit card payments, repair order notifications and data connectors.
The company added new integrations with FuelCloud and Fill-Rite to its software in July, saying they will help businesses with on-site bulk tank fueling, streamline fuel management, gain insights and optimize fleet fueling operations.
FuelCloud provides on-site fuel management solutions, while Fill-Rite offers on-site fuel dispensing systems. The integrations, which are available at no extra charge to the companies’ mutual customers, allow transactions to automatically flow into the Fleetio platform.
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