TLDR:
- Fleet, a commuter benefits management platform, closed a $2.5 million seed round led by Congruent Ventures.
- The funding will support the enhancement and deployment of its platform to help employers comply with commute mandates and promote sustainable transportation.
Fleet, a modern commuter benefits management platform, secured $2.5 million in seed funding led by Congruent Ventures. Other participants in the funding round included Great Oaks Venture Capital, Plug and Play Ventures, Rally Cap, and Virta Ventures. The funding round also included a talented group of angels and advisors, including former execs at Robinhood and Brex, like ex-COO Michael Tannenbaum. This brings Fleet’s total venture capital to $5 million.
The rise of hybrid schedules and return-to-office (RTO) programs has brought new complexities and employee expectations to commuting. Employers are now looking for solutions to comply with mandates requiring certain size companies to offer pre-tax commuter benefits programs to employees. Fleet’s platform offers a low-cost, scalable solution for employers to attract and retain talent while promoting sustainable transportation.
Commuter benefits are essential for talent attraction and employee retention. Fleet’s platform integrates seamlessly into HR, accounting, and finance systems, making it easier for employers to deploy and manage commuter benefits programs. Employees can easily view and manage their benefits without additional overhead and take advantage of incentives offered by their employers.
Key quotes from the article include:
- “When implemented the right way, commuter benefits programs reduce costs while supporting public transportation and its many positive social impacts…” – Shaurya Saluja, Co-Founder & CEO of Fleet
- “As commuters have returned to the office and cities across the country are mandating employers offer employees pre-tax deductions for commuting spend, there is an enormous need for Fleet…” – Jackie Kossmann, Partner at Congruent Ventures
