A big name in the fleet maintenance technology space has made an acquisition that brings its valuation to more than $1.5 billion.
Fleet maintenance management software provider Fleetio acquired Auto Integrate, a platform that enables maintenance shops to electronically submit work orders for approval.
The maintenance authorization platform reduces vehicle downtime and improves operational efficiency. That capability will fully integrate with Fleetio’s cloud-based platform, which manages inspections, work orders, PM schedules, parts inventory and more in a single dashboard for more than 7,500 public and private fleets of all sizes.
“Bringing Fleetio and Auto Integrate together is a game-changer for both fleets and repair shops, ensuring a seamless, more connected maintenance experience,” said Fleetio Founder and Board Chair Tony Summerville. “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.”
The combined entity will service over 8 million vehicles and process more than 13 million repair orders per year through its expanded network of more than 110,000 shops across North America. The acquisition was financed following the closing of an over $450 million Series D funding round, co-led by existing Fleetio investor Elephant and new investor Growth Equity at Goldman Sachs Alternatives.
"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.
A Fleetio spokesperson said the company plans to invest in further research and development of the Auto Integrate platform to boost its functionality within the Fleetio ecosystem.
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Auto Integrate’s CEO Terry Bartlett said this integrated approach to fleet maintenance management eliminates communication barriers between fleet operators and repair facilities, ultimately keeping vehicles on the road longer at lower costs.
The acquisition follows Fleetio’s launch of its new vendor portal for shops that participate in its maintenance shop network – an extensive ecosystem with tens of thousands of trusted service providers.
The vendor portal enables providers to view transaction history, repair order status and payout details in one centralized place. They can also track key performance indicators related to maintenance activity, customer accounts and service trends and easily reconcile month-end with reports and clear earnings breakdowns.
“Maintenance shops are the backbone of fleet operations, but managing payments, tracking performance and handling customer interactions can be overwhelming,” said Miles Rand, director of product management of Marketplace at Fleetio. “Without the right tools, these challenges can slow operations and impact profitability. Fleetio’s new vendor portal eliminates the guesswork so shops can focus on growing their businesses, delivering quality service and ensuring fleet vehicles are well-maintained and road-ready.”
