With a reported growth rate above 53 percent, Fleet Complete currently ranks as one of the fastest growing telematics companies among the top international aftermarket solution providers in fleet management.
(December 20, 2018, Toronto) – The 13th edition of Berg Insight’s Fleet Management in Europe report and their 8th edition of Fleet Management in the Americas have both recognized Fleet Complete’s high growth in the fiscal year of 2017-2018. This puts it among the fastest growing companies when looking at the top international providers of fleet management solutions in Europe and North America.
Today, Fleet Complete’s revenue growth is over 53 percent with a current run-rate at CAD $107million (Euro 70million and US $80million) globally.
“The Berg Insight report underscores what a tremendous fiscal year it has been for Fleet Complete,” notes Tony Lourakis, founder and CEO. “In 2018, we covered a lot of ground, launching with Deutsche Telekom in Germany as our channel partner; gaining a leadership position in the Nordics through the acquisition of Ecofleet; expanding our OEM partnerships with prominent names like General Motors, Phillips Connect Technologies and Mitsubishi. This allows us to keep strong growth results in a highly competitive global market.”
This past November, Fleet Complete announced a major investment partnership with Ontario Teachers’ Pension Plan – a Private Capital group with a long history of investment in the technology sector.
The telematics industry is in a period of rapid growth that, according to Berg Insight, is expected to last for years to come. The European market, today, accounts for 37.8 million light and heavy commercial vehicles on the road, but only 7.7 million are using fleet management software. This number is anticipated to double, reaching 15.6 million subscriptions by 2022.
The fleet management market in North America is also in a period of strong growth. The number of active units in the market is expected to grow with a compound annual growth rate of 15.6 percent. This will bring them from today’s 8 million units to 16.4 million in 2022.
EVP, Sales and Marketing, Fleet Complete