Brisbane fleet management startup scores $750,000 Seed round

Brisbane startup Fleetyr has banked a $750,000 Seed round four years after launching and going global.

The raise was led by early-stage VC 77 Partners, which is also based in the Queensland Capital as well as Silicon Valley where’s it’s backed by Bee Partners. Also chipping in is state government-backed QIC Ventures through its enterprise acceleration fund

The customer base ranges across the construction, transport, local government, leasing, finance, and mining sectors

Hill said it’s “humbling” to bootstrap the business to profitability then raise capital.

“This is certainly something a couple of blokes living in the suburbs of Brisbane didn’t expect to come so soon,” he said.

“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% of our leads currently come from software and hardware providers.”

His cofounder, Ruttan said: “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.”

Brent Watts from 77 Partners said Fleetyr offers broad hardware integration and deep software analytics.

“As founders, Tim and Brodie have a combination of technical and commercial insight that we believe is critical for supporting a global customer base,” he said.

Nick Capell from QIC Ventures said: “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.”