Funding round
Fleetio Seed
Fleetio, which works in fleet management software development in Birmingham, raised $750K in a Seed round announced on 1 Sep 2016. It is Fleetio's first venture round on record.
$750K
Amount raised
Not disclosed
Post-money valuation
Valuation
What this round says about the price
Fleetio did not disclose a valuation in this round. It is Fleetio's first venture round on record, 4 years after it was founded in 2012. It is under 1% of the $595M Fleetio has raised in the venture rounds on record. Fleetio raised again 87 months later: a Series C round of $145M in Dec 2023. Its next priced round, a Series D in Mar 2025, valued it at $1.50B.
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, sales and marketing, scaling operations and working capital.
- Hiring
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
475 Seed rounds in Tech Companies within a year either side disclosed an amount; the median was $1.6M, and this round was 46% of the median. The closest in time, other companies' Seed rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 15 Sep 2016 | $3.5M | not disclosed | not named |
| Tech Companies | 28 Sep 2016 | $3.1M | not disclosed | Costanoa |
| Tech Companies | 1 Sep 2016 | $3.0M | not disclosed | Draper Associates and Draper Dragon |
| Tech Companies | 15 Sep 2016 | $3.0M | not disclosed | Founders |
| Tech Companies | 29 Sep 2016 | $2.5M | not disclosed | Earlybird |
| Tech Companies | 27 Sep 2016 | $2.5M | not disclosed | not named |
| Tech Companies | 20 Sep 2016 | $2.4M | not disclosed | not named |
| Tech Companies | 22 Sep 2016 | $2.0M | not disclosed | User Friendly Media |
Sources
Where this comes from
Reported by 2 sources.
Questions
Frequently asked
How much did Fleetio raise in its Seed round?
Fleetio raised $750K in its Seed round, announced in Sep 2016.
What was Fleetio's valuation at the Seed round?
It was not disclosed.
How does it compare with other Seed rounds in Tech Companies?
475 Seed rounds in Tech Companies within a year either side disclosed an amount; the median was $1.6M, and this round was 46% of the median.
Did Fleetio raise again after this round?
Yes: a Series C round in Dec 2023 of $145M.