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§ Private Profile · Chicago, IL, USA
AI-powered fuel marketplace streamlining procurement and management for construction, logistics, and infrastructure operations.
Fuel Me is a Burr Ridge, Illinois-based company that provides an AI-powered fuel marketplace and intelligent ordering system for commercial procurement and management. The software-as-a-service platform streamlines fuel distribution through automated optimization, a nationwide vendor network, and predictive ordering based on real-time weather data. This technology targets complex, mission-critical operations across the construction, logistics, and infrastructure sectors, serving a variety of large corporate clients including Fortune 500 enterprises. To date, the enterprise has completed over 20,000 fuel deliveries and achieved fivefold year-over-year growth while scaling its workforce to 67 employees. Fuel Me has raised $18 million in total funding, including an oversubscribed Series A round co-led by Pritzker Group Venture Capital and Tribeca Venture Partners, and integrates its technology with platforms like Procore. The company was founded in 2020 by Carlo Passacantando, Brian Hirsch, and Boy Schook.
Fuel Me has raised $18.0M across 1 funding round.
Fuel Me has raised $18.0M in total across 1 funding round.
Fuel Me has raised $18.0M in total across 1 funding round.
Fuel Me's investors include Tribeca Venture Partners, Chris Girgenti, Primetime Partners, Bessemer Venture Partners, Bridge Ventures, Correlation Ventures, FJ Labs, Forefront Venture Partners, Gaingels, Hyde Park Angels, Interplay Ventures.
Fuel Me has raised $18.0M across 1 funding round. Most recently, it raised $18.0M Series A in July 2023.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Jul 1, 2023 | $18M Series A | Tribeca Venture Partners, Chris Girgenti | Primetime Partners, Bessemer Venture Partners, Bridge Ventures, Correlation Ventures, FJ Labs, Forefront Venture Partners, Gaingels, Hyde Park Angels, Interplay Ventures | Announced |
Fuel Me is a cloud-based fuel procurement and management platform that automates purchasing, delivery, invoicing, and cost optimization for construction, logistics, transportation, and infrastructure sectors[1][2][3]. It serves enterprise clients like Fortune 500 companies and fleet operators by solving fragmented fuel procurement—eliminating vendor chaos, overpayments, and manual processes through AI-driven tools, nationwide vendor networks, and real-time visibility[2][3][5]. With over 20,000 deliveries completed and fivefold year-over-year growth since 2020, Fuel Me secured an oversubscribed $18 million Series A in March 2024, fueling expansion into clean energy initiatives[4][5].
Fuel Me was founded in September 2020 in Burr Ridge, Illinois, by Carlo Passacantando (CEO) and Boy Schook (COO), drawing on decades of leadership experience from major energy firms like Chevron, BP, Clark Products, and Mansfield, where they served clients such as UPS and CSX[3][4][5]. The idea emerged from recognizing the fuel industry's antiquated, inefficient procurement processes, prompting the team to build a disruptive tech solution for streamlined management[3][5]. Early traction included partnerships like Truck Park for nationwide parking, a mobile app launch for fuel purchasing and roadside assistance, and rapid scaling to serve construction firms and trucking fleets with GPS-tracked orders via 30,000+ vendors[3][5].
Fuel Me rides the wave of digital transformation in supply chain and energy distribution, targeting a massive, inefficient $100B+ U.S. fuel procurement market fragmented by manual processes and volatile pricing[4][5]. Timing aligns with rising fuel costs, sustainability mandates, and AI adoption in logistics post-2020 disruptions, enabling enterprises to optimize amid labor shortages and electrification trends[2][5]. Market forces like vendor consolidation and clean energy shifts favor its expansion into renewables, while integrations (e.g., Procore) embed it in construction tech stacks, influencing ecosystems by setting standards for automated, compliant fuel management[1][3][4].
Fuel Me's first-mover status in national digital fuel marketplaces, backed by $18M Series A and Fortune 500 traction, positions it to dominate enterprise procurement as AI and clean energy converge[4][5]. Next steps likely include scaling clean initiatives, deeper ERP/ telematics integrations, and international expansion amid EV-hybrid fleet transitions and regulatory pushes for efficiency. Its influence could evolve from niche disruptor to indispensable infrastructure, redefining energy distribution—much like how it already streamlines the chaos of fuel ops for today's high-stakes industries[2][5].