PRESS RELEASE: Australian mobility and safety data platform Fleetyr raises first external funding round

After bootstrapping its way to becoming the go-to fleet and safety analytics and integration platform for customers across five continents, Brisbane startup Fleetyr has secured its first external funding with a Seed raise led by venture capital firm 77 Partners backed by QIC Ventures.
Founded by Tim Hill and Brodie Ruttan, the platform addresses a common challenge facing the fleet industry at large – data from vehicles and operations scattered in siloed systems, making it difficult to get a unified view in a single, user-friendly interface.

The global fleet management software market is projected to exceed US$50 billion by 2030, driven by rising costs, regulatory requirements, and the explosion of data generated by modern vehicles and devices.

With mid-to-large fleet managers often using up to 20 different systems to monitor everything from telematics and maintenance to HR and fuel cards, Fleetyr connects and visualises data for operators to identify trends or anomalies, including fraud and excessive idling.

The raised capital allows the business to continue supporting fleet, equipment, and safety managers to uncover insights and find buried truths in their data to slash excess costs, reduce waste, lower risk, reach emissions targets, and continuously improve.

“We are proud of how Fleetyr has grown in a short time, and we’re looking forward to growing the team,” Co-Founder and CEO Tim Hill said. “It is humbling that we have been able to bootstrap the business to begin with, become profitable, and now successfully raise capital. This is certainly something a couple of blokes living in the suburbs of Brisbane didn’t expect to come so soon.”

“The funding will help us grow further into our key markets around the world and speed up the development of our product and data. We’re really looking forward to unlocking new features such as benchmarking and network mapping for our customers and partners,” Co-Founder and Chief Analytics Officer Brodie Ruttan said.

The platform has now built a unique position in the market where it is equally as popular with fleet and equipment managers as it is with the software providers that it integrates with.

“We have found a niche position where we can help software and hardware providers in the industry generate sales more quickly by offering affordable integrations and reporting that their products don’t offer. In fact, 90 per cent of our leads currently come from software and hardware providers,” added Hill.

“One day, every fleet in the world will be safely optimised, and Fleetyr is the key to unlocking that potential with broad hardware integration and deep software analytics,” said Brent Watts, Managing Partner at 77 Partners. “As founders, Tim and Brodie have a combination of technical and commercial insight that we believe is critical for supporting a global customer base. An early market leader, Fleetyr is now uniquely positioned to grow as a platform, and 77 Partners is honoured to partner with the team on this journey.”

“Tim and Brodie bring the compelling blend of understated ambition, capability and grit we look for in founders,” said Nick Capell of QIC Ventures. “As more fleet systems come online and the volume and complexity of data increases, so too will the demand for unified analytics. Fleetyr now has a clear path to accelerate growth with larger customer relationships, and so at this inflection point, QIC Ventures is proud to put capital behind the team to unlock a number of short-term opportunities.”

Their customer base spans construction, transport, government, leasing, finance, and mining, including SafetyCulture, Fleetio, Altus Traffic, CityCare Group, Teletrac Navman, Groome Transportation, City of Englewood, Dynagrid and UMS Africa.

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For further information, please contact:
Nadia Nyaz
Marketing Manager
[email protected]

About 77 Partners:
77 Partners is an early-stage venture capital firm that partners with exceptional founders from across Australia to build globally scalable FrontierTech ventures. The firm is backed by leading Silicon Valley venture capital firm, Bee Partners, with exits to Adobe, Autodesk and several others.
About QIC Ventures:
Investing from seed to Series C, QIC Ventures has partnered with more than 80 world-class companies taking Australian innovation global since 2016, including Go1, Gilmour Space and VALD. It sits within the institutional QIC Private Equity platform, which manages A$10B globally in private equity assets from offices in the US, Europe and Australia.