About PowerFleet
PowerFleet is a company based in Woodcliff Lake (United States) founded in 2008.. PowerFleet has raised $50 million across 1 funding round from investors including Abry Partners. The company has 2,520 employees as of March 31, 2024. PowerFleet has completed 2 acquisitions, including Fleet Complete and Movingdots. PowerFleet offers products and services including Unity Platform, Vehicle Telematics, and Asset Tracking. PowerFleet operates in a competitive market with competitors including Samsara, Platform Science, Radius, Omnitracs and GreenRoad, among others.
- Headquarter Woodcliff Lake, United States
- Employees 2520 as on 31 Mar, 2024
- Stage Public
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Sectors
Transportation, Automotive & Logistics
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Email
***********
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Phone
*********
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Website
*********
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Social
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- Legal Name Powerfleet, Inc.
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Annual Revenue
$362.51 M168.61as on Mar 31, 2024
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Net Profit
$-50.99 M-49.7as on Mar 31, 2024
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EBITDA
$58.36 M428.05as on Mar 31, 2024
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Total Equity Funding
$50 M (USD)
in 1 rounds
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Latest Funding Round
$50 M (USD), Private Equity Round
Mar 13, 2019
- Investors
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Employee Count
2520
as on Mar 31, 2024
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Investments & Acquisitions
Fleet Complete
& 1 more
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IPO & Listings of PowerFleet
PowerFleet is a publicly listed company on the NASDAQ with ticker symbol AIOT in USA, operating in the Electronic technology sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.
Products & Services of PowerFleet
PowerFleet offers a comprehensive portfolio of products and services, including Unity Platform, Vehicle Telematics, and Asset Tracking. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Platform for optimizing mobile assets and business operations.
Devices for tracking vehicle data and ensuring compliance.
System for monitoring and managing asset locations and utilization.
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Funding Insights of PowerFleet
PowerFleet has successfully raised a total of $50M through 1 strategic funding round. The most recent funding activity was a Private Equity Round round of $50 million completed in March 2019. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 1
- Last Round Private Equity Round — $50.0M
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First Round
First Round
(13 Mar 2019)
- Investors Count 1
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Mar, 2019 | Amount | Private Equity Round - PowerFleet | Valuation | Abry |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in PowerFleet
PowerFleet has secured backing from 1 investor, including venture fund investors. Prominent investors backing the company include Abry Partners. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Abry Partners is engaged in middle market private equity investments.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by PowerFleet
PowerFleet has strategically engaged in corporate development activities, having acquired 2 companies. Notable acquisitions include Fleet Complete and Movingdots. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Internet-based insurance services for the automotive industry are offered.
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1999 | ||||
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Fleet, asset, and mobile workforce management solutions are provided.
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1998 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - PowerFleet
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Powerfleet Comparisons
Competitors of PowerFleet
PowerFleet operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Samsara, Platform Science, Radius, Omnitracs and GreenRoad, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
AI-powered cloud-based vehicle tracking solutions are offered for fleet owners.
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| domain | founded_year | HQ Location |
Provider of integrated solutions for fleet management
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| domain | founded_year | HQ Location |
Predictive marketing and sales platform
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| domain | founded_year | HQ Location |
Cloud-based fleet management solutions are provided for transportation operations.
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| domain | founded_year | HQ Location |
Fleet telematics and management solutions for safe driving are provided.
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| domain | founded_year | HQ Location |
Provider of video telematics and fleet management solutions
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Powerfleet
Frequently Asked Questions about PowerFleet
When was PowerFleet founded?
PowerFleet was founded in 2008 and raised its 1st funding round 11 years after it was founded.
Where is PowerFleet located?
PowerFleet is headquartered in Woodcliff Lake, United States. It is registered at Woodcliff Lake, New Jersey, United States.
Who is the current CEO of PowerFleet?
Chris Wolfe is the current CEO of PowerFleet.
Is PowerFleet a funded company?
PowerFleet is a funded company, having raised a total of $50M across 1 funding round to date. The company's 1st funding round was a Private Equity Round of $50M, raised on Mar 13, 2019.
How many employees does PowerFleet have?
As of Mar 31, 2024, the latest employee count at PowerFleet is 2,520.
What is the annual revenue of PowerFleet?
Annual revenue of PowerFleet is $362.51M as on Mar 31, 2024.
What does PowerFleet do?
PowerFleet was founded in 2008 and is headquartered in Woodcliff Lake, United States. Operations focus on the telematics sector, where in-cab ELD devices, solar-powered super-capacitors, and sensors for optical, environmental, mounting, and dismounting functions are supplied for trailers, containers, and vehicles. A platform is utilized for fleet tracking, vehicle management, asset optimization, and yard visibility to support logistics efficiency.
Who are the top competitors of PowerFleet?
What products or services does PowerFleet offer?
PowerFleet offers Unity Platform, Vehicle Telematics, and Asset Tracking.
Is PowerFleet publicly traded?
Yes, PowerFleet is publicly traded on NASDAQ under the ticker symbol AIOT.
How many acquisitions has PowerFleet made?
PowerFleet has made 2 acquisitions, including Fleet Complete, and Movingdots.
Who are PowerFleet's investors?
PowerFleet has 1 investor. Key investors include Abry Partners.
What is PowerFleet's ticker symbol?
The ticker symbol of PowerFleet is AIOT on NASDAQ.
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