Fleet, an open-source device management company based in San Francisco, announced a $27 million Series B funding round led by Ten Eleven Ventures, bringing its total funding to $52.3 million. The oversubscribed round, following a 6x revenue growth over the past two years, aims to accelerate the development and adoption of Fleet’s open device management platform, which offers flexible self-hosting and cloud-hosted options.
$27M Series B led by Ten Eleven Ventures, with total funding at $52.3M.
6x revenue growth in two years, serving clients like Stripe, Uber, and Reddit.
Platform supports Apple, Linux, Windows, with self-hosted or cloud options.
Scott Lundgren of Ten Eleven Ventures joins Fleet’s board.
Open-source approach emphasizes transparency, extensibility, and choice.
Partners include CDW, Deel, and SHI, with roadmap driven by user feedback.
The Series B funding will enhance Fleet’s open device management platform, which provides organizations with flexible deployment options to secure and manage devices across Apple, Linux, and Windows environments. Unlike traditional mobile device management (MDM) solutions, Fleet’s open-source model prioritizes transparency, extensibility, and repeatability, enabling compliance with standards like PCI and FedRAMP. CEO Mike McNeil emphasized, “Fleet is open source, so we built things to be open from the beginning. Hosting is part of that.”
Scott Lundgren, Operating Partner at Ten Eleven Ventures and former CTO of Carbon Black, joins Fleet’s board, stating, “Fleet is the device management I wish we could have had – forward-thinking and flexible.” Additional investors include CRV, Open Core Ventures, GitLab’s Sid Sijbrandij, Vercel’s Guillermo Rauch, and others. The diverse investor group reflects confidence in Fleet’s vision to disrupt proprietary MDM solutions.
Fleet’s platform serves global enterprises like Stripe, Fastly, Uber, Reddit, and MrBeast, managing millions of devices, from laptops to factory robots and supercomputer nodes. Scott MacVicar of Stripe noted, “Fleet helped us avoid being forced to the cloud by our current MDM provider. We were able to migrate everything over to Fleet a few weeks ahead of our renewal.” This flexibility addresses the industry trend of vendors pushing cloud-only solutions, which can conflict with data privacy and regulatory needs.
The mobile device management market, valued at $7 billion in 2024, is projected to reach $20 billion by 2030, driven by remote work and security demands. Fleet’s open-source approach competes with proprietary platforms like Jamf, Intune, and Kandji, offering unique self-hosting capabilities. Posts on X, such as from @AppleX4_, highlight enthusiasm for Fleet’s support for Apple, Windows, and Linux, noting its use by Stripe and Reddit. Google Trends data from June 2025 shows rising interest in flexible hosting options, aligning with Fleet’s value proposition.
Fleet’s channel partners, including CDW, Deel, Primo, and SHI, benefit from technical enablement and collaborative go-to-market strategies. The company’s roadmap incorporates direct feedback from users and resellers, ensuring continuous innovation. This partner-driven approach strengthens Fleet’s ability to scale across industries like finance, tech, and manufacturing.
With the new funding, Fleet plans to expand its team, enhance enterprise-grade features, and grow its global footprint. The company’s commitment to open-source principles and customer choice positions it to capture market share from legacy MDM providers. Potential challenges include integrating with complex enterprise environments and maintaining scalability as device volumes grow. Fleet’s valuation, estimated at $200–300M, could double by 2027 if adoption trends continue.
Fleet’s $27M Series B, announced on June 17, 2025, underscores its leadership in open device management. By offering unparalleled flexibility and transparency, Fleet empowers organizations to secure their devices on their terms, redefining the future of enterprise device management.
Fleet is the open device management platform for IT and security teams with lots of computers. Built on open-source technology, Fleet provides deep visibility, control, and automation for laptops, servers, and specialized hardware, regardless of your deployment environment (on-premise or cloud). Fleet's mission is to bring transparency and control to the world of computing devices through its open and extensible platform.
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