Funding round
Fleetio Series C
Fleetio, which works in fleet management software development in Birmingham, raised $145M in a Series C round announced on 18 Dec 2023. It is Fleetio's second venture round on record; the one before was a Seed in Sep 2016.
$145M
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 came 87 months after Fleetio's Seed. It is 24% of the $595M Fleetio has raised in the venture rounds on record. Fleetio raised again 15 months later: a Series D round of $450M in Mar 2025, at $1.50B post-money.
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
228 Series C rounds in Tech Companies within a year either side disclosed an amount; the median was $45M, and this round was 3.2 times the median. The closest in time, other companies' Series C rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 4 Dec 2023 | $50M | not disclosed | Accel |
| Tech Companies | 6 Dec 2023 | $50M | $1.00B | Bain Capital Ventures |
| Tech Companies | 5 Dec 2023 | $30M | not disclosed | Top Tier Capital Partners |
| Tech Companies | 19 Dec 2023 | $20M | not disclosed | Glisco Partners |
| Tech Companies | 25 Jan 2024 | $44M | not disclosed | Growth Equity at Goldman Sachs Asset Management and Goldman Sachs |
| Tech Companies | 21 Nov 2023 | $44M | not disclosed | BlackFin |
| Tech Companies | 1 Jan 2024 | $38M | $148M | Creaegis Investment Management |
| Tech Companies | 6 Nov 2023 | $35M | not disclosed | VMG Partners |
Sources
Where this comes from
Reported by 2 sources.
Questions
Frequently asked
How much did Fleetio raise in its Series C round?
Fleetio raised $145M in its Series C round, announced in Dec 2023.
What was Fleetio's valuation at the Series C round?
It was not disclosed.
How does it compare with other Series C rounds in Tech Companies?
228 Series C rounds in Tech Companies within a year either side disclosed an amount; the median was $45M, and this round was 3.2 times the median.
Did Fleetio raise again after this round?
Yes: a Series D round in Mar 2025 of $450M at $1.50B post-money.