AutoFleet

Optimization Platform for Fleets

Automotive & Mobility Technologies
Acquired by Element Fleet Management on Aug, 2024

Company Overview

Snapshot

Founded in December 2017 by Kobi Eisenberg, Dor Shay, and Avi Hauben, AutoFleet operates with 51–200 employees. The company has successfully raised $29.5 million across 3 funding rounds from 8 investors. AutoFleet was acquired by Element Fleet Management in August 2024.

Business overview

AutoFleet provides an optimization platform designed for fleets and mobility operators, enhancing existing operations and enabling new on-demand passenger and logistics services. The company's core technology leverages AI and machine learning to maximize fleet utilization and revenues, reduce downtime, and facilitate the transition to electric vehicles. AutoFleet serves a variety of verticals globally, including taxis, rideshares, delivery services, shared mobility, rentals, and OEMs, operating within the Automotive & Mobility Technologies sector.

Strategic signal

The acquisition of AutoFleet by Element Fleet Management in August 2024 for $110 million signals a significant consolidation within the fleet management and mobility optimization sector. This move validates AutoFleet's technology and market position, indicating a strategic shift towards integrating advanced optimization solutions into larger fleet operations to drive efficiency and support the transition to electric vehicles.

Company Intelligence Q&A

When was AutoFleet acquired?
AutoFleet was acquired by Element Fleet Management in August 2024 for $110 million.
Which investors participated in AutoFleet's Series B funding round?
In October 2021, AutoFleet received Series B funding from investors including Fujitsu Ventures.
What was a key partnership for AutoFleet in 2023?
In November 2023, zTrip and AutoFleet partnered to optimize and streamline Non-Emergency Medical Transportation (NEMT) and student transportation services.
What was AutoFleet's Series A funding round details?
In April 2020, AutoFleet secured Series A funding, with MizMaa Ventures leading the round.
What is AutoFleet's contribution to fleet electrification?
AutoFleet contributes to fleet electrification by providing tools that facilitate sustainable and viable electric vehicle transportation, assisting fleets and operators in optimizing new mobility services with an emphasis on sustainability.

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