Deals
Fleetio to Acquire Auto Integrate in $1.5 Billion Fleet Deal
- Fleet software company raises $450 million to fund purchase
- Deal aims to streamline vehicle servicing through one platform
Fleetio, a software firm that helps companies manage their vehicle fleets, has raised $450 million in late-stage venture funding to help finance a takeover of maintenance-authorization platform Auto Integrate.
The deal values the combined business at more than $1.5 billion, according to a statement reviewed by Bloomberg News. The round was co-led by existing Fleetio investor Elephant VC and Goldman Sachs Alternatives, a new backer.