Fleetio reports growth in 2023

Fleetio, a Birmingham, Alabama-based fleet maintenance management software-as-a-service (SaaS) company, has reported several growth updates in 2023, including securing $144.7 million in Series C funding.

“It’s an exciting time at Fleetio as we head into 2024,” says Fleetio CEO Jon Meachin. “This year’s funding round accelerated growth of the business and added even more exceptional talent to our team. 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 its product, Ford Pro Fleet Management Software, which is built on software from Fleetio.

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 Fleetio customers include:

• The Biltmore Estate, Asheville, North Carolina;
• Iowa Department of Transportation, Ames, Iowa;
• Jack Daniel’s Distillery, Lynchburg, Tennessee;
• PS Logistics, Birmingham, Alabama;
• Roto-Rooter of Greensboro, North Carolina; and 
• Stanley Steemer, Mid Atlantic.

In 2023, Fleetio reported more than 45 percent year-over-year growth.

Other growth metrics include: 

• more than 14 million digital inspection forms submitted by Fleetio customers;
• approximately 12 million fuel transactions logged by Fleetio customers;
• approximately 2 million work orders processed through the Fleetio platform;
• more than 800,000 vehicles and assets supported within Fleetio; and 
• more than 100,000 maintenance shops integrated with Fleetio’s Maintenance Shop Network.

In the fourth quarter of 2023, Fleetio says it 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 recently served as Co-CEO at Gloucester, Massachusetts-based coffee company Cometeer. Underbrink was appointed as vice president of customer experience. She has previous experience at Rackspace Technology Inc., Windcrest, Texas, and WP Engine, Austin, Texas. Hurley was appointed as vice president of people, with previous experience as head of people at San Francisco-based Brilliant and chief people officer at San Jose, California-based bioplastics company Full Cycle.

Fleetio rolled out product developments this year, including:

• launching developments across the maintenance platform including purchase orders, service reminders, updated vehicle maintenance reporting standards (VMRS) service task categories and adding last-in first-out, first-in first-out (LIFO/FIFO) parts and inventory valuation methods;
• releasing updates to Fleetio’s Maintenance Shop Integration, as well as updates across widgets, reports and digital inspection forms, sensor data chart trips, work orders and service tasks;
• adding issue prioritization; and
• achieving Service Organization Control Type 2 (SOC 2) compliance.

The company also received multiple awards this year, including the AutoTech Breakthrough Award for Fleet Management Technology Company of the Year; the Stevie Award for Customer Service Department of the Year, Computer Software; the Deloitte Fast 500 Award; the Forbes Advisor’s list for the Best Fleet Management Software of 2023; the Software Report’s list of Top 100 Software Companies of 2023; and the 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,” says Tyson Goeltz, Fleetio’s chief revenue officer. “Fleetio’s success is fueled by our commitment to our customers and dedication to the continued evolution of the fleet management industry. We’re heading into 2024 with great momentum, fueled by our highly skilled team and culture of innovation."

Fleetio says it plans to release actionable insights and analytics, tire health data and original equipment manufacturer warranty tracking products in 2024.