Fleetio, a leading fleet maintenance management software-as-a-service (SaaS) company, reports a remarkable year of growth, innovation and category excellence in 2023. The company achieved significant milestones, which include securing $144.7 million in Series C funding, accelerating growth and expansion plans.
“It’s an exciting time at Fleetio as we head into 2024. This year’s funding round accelerated growth of the business and added even more exceptional talent to our team,” said Jon Meachin, Chief Executive Officer at Fleetio. “With 260 Fleetians supporting nearly 6,000 customers, we will build on this success in 2024, empowering current and future fleets with the ultimate fleet maintenance platform.”
This year, Fleetio expanded its existing partnership with Ford Pro, Ford’s commercial division, and their product, Ford Pro™ Fleet Management Software, which is built on software from Fleetio. Strategic partnerships with original equipment manufacturers create substantial value for fleets, making best-in-class fleet maintenance management solutions more attainable and affordable with attractive bundled offerings.
Fleetio also expanded its customer base in 2023 with an increase in customer count, number of target markets served and geography – now serving fleets in 100 countries. New notable Fleetio customers include:
- The Biltmore Estate
- Iowa Department of Transportation
- Jack Daniel’s Distillery
- PS Logistics
- Roto-Rooter of Greensboro, North Carolina
- Stanley Steemer, Mid Atlantic
In 2023, Fleetio experienced more than 45% year-over-year growth, providing innovative software solutions to companies that manage complex fleets of vehicles, equipment, tools and trailers. Other notable growth metrics include:
- Over 14 million digital inspection forms submitted by Fleetio customers
- Nearly 12 million fuel transactions logged by Fleetio customers
- Nearly 2 million work orders processed through the Fleetio platform
- Over 800,000 vehicles and assets supported within Fleetio
- More than 100,000 maintenance shops integrated with Fleetio’s Maintenance Shop Network
Matt Mandel
In Q4 2023, Fleetio made several key hires, including the appointments of Matt Mandel, Jessica Underbrink and Leslie Hurley. Mandel was appointed as Fleetio’s Chief Financial Officer (CFO) and Chief Operations Officer (COO), transitioning in as Fleetio’s first joint CFO/COO. Mandel has extensive experience leading teams in high-growth environments, most recently serving as Co-CEO at Cometeer. He also previously served as the Head of North American Transportation and Delivery at Wayfair where he was responsible for millions of customer deliveries.
Underbrink was appointed as Vice President of Customer Experience. She has previous success scaling high growth companies, like Rackspace and WP Engine, where she used her diverse background in Product, Engineering, Operations and Customer Success to drive customer-inspired operational excellence, resulting in an award-winning customer experience.
Hurley was appointed as Vice President of People, with previous experience as Head of People at Brilliant and Chief People Officer at Full Cycle. In these roles, she worked with business leaders to hire top talent and think holistically about how to grow their teams in the right way.
Fleetio also rolled out substantial product enhancements in 2023, better positioning its existing and future customer base to meet the growing challenges facing fleets:
- Launched improvements across the maintenance platform including purchase orders, service reminders, updated Vehicle Maintenance Reporting Standards (VMRS) service task categories and the addition of Last-In First-Out, First-In First-Out (LIFO/FIFO) parts and inventory valuation methods
- Released updates to Fleetio’s Maintenance Shop Integration, as well as enhancements across widgets, reports and digital inspection forms, sensor data chart trips, work orders and service tasks to ensure fleets receive instant data to improve their operations
- Added issue prioritization, helping fleet managers steer their teams toward the most pressing concerns to maximize labor resources and minimize downtime
- Achieved Service Organization Control Type 2 (SOC 2) compliance, confirming the company is securely managing user data to further protect privacy and security
The company’s commitment to innovation and customer service was made evident through several award recognitions, including:
- AutoTech Breakthrough Award for Fleet Management Technology Company of the Year
- Stevie Award for Customer Service Department of the Year (Computer Software)
- Deloitte Fast 500™ Award
- Forbes Advisor’s list for the Best Fleet Management Software of 2023
- The Software Report’s list of Top 100 Software Companies of 2023
- U.S. News & World Report Best Asset Management Software of 2023
“We’re honored to be recognized in 2023 as a leader within our industry. Fleetio’s success is fueled by our commitment to our customers and dedication to the continued evolution of the fleet management industry,” said Tyson Goeltz, Chief Revenue Officer at Fleetio. “We’re heading into 2024 with great momentum, fueled by our highly skilled team and culture of innovation.”
Fleetio is poised for an impactful 2024 with a dynamic roadmap, solidifying the company’s position as a pioneer in the fleet maintenance management landscape. Upcoming releases include cutting-edge advanced maintenance solutions with deeper integrations, actionable insights and analytics, tire health data and original equipment manufacturer warranty tracking.
