In an acquisition that grows its business to a behemoth worth more than $1.5 billion, fleet management company Fleetio has acquired Auto Integrate. In addition, Fleetio announced the closing of $450 million funding round that will help to finance the acquisition.
The combined entity will serve more than 8 million vehicles and process 13 million repair orders through a network of 110,000 repair shops in the United States, Canada and Mexico. Auto Integrate, a maintenance authorization platform, and Fleetio have had a business relationship since 2019.
The funding round was co-led by existing Fleetio investor Elephant and new investor Growth Equity at Goldman Sachs Alternatives.
“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.”
“Bringing Fleetio and Auto Integrate together is a game-changer for both fleets and repair shops, ensuring a seamless, more connected maintenance experience,” said Tony Summerville, Fleetio founder and board chair, in a statement. “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.”
Fleetio, which was founded in 2012 and offers its services to more than 7,500 public and private fleets in 100 countries, has partnered with some industry giants in the past year. In 2024, Fleetio and Ford Pro announce an expanded connected fleet integration, partnered with fleet telematics company Razor Tracking, and integrated data management with Lytx. The company also expanded its Geotab integration with Shop Network Add-In for maintenance management.
Fleetio, also in 2024, announced it had installed its fleet optimization platform in 1 million vehicles worldwide. At the same time, the company announced that it grew to more than 1.3 million Fleetio Go mobile app users.
