Founded in 2022, DashFuel provides an integrated operating platform designed to address the complex operational requirements of petroleum distribution. The industry faces challenges involving fluctuating fuel prices, logistics coordination, regulatory compliance, and fragmented technology systems that often require extensive manual processes.
DashFuel addresses these challenges by consolidating quoting, tank monitoring, dispatch, delivery, billing, reconciliation, and back-office integration into a single platform. Its technology enables petroleum operators to improve operational visibility, automate workflows, reduce administrative burdens, and protect margins while supporting business growth.
The company has established a growing customer base across the United States and reports strong gross and net revenue retention. Its platform is designed to help wholesalers and carriers expand operations without proportionally increasing headcount, while maintaining control over critical business processes.
The investment from Five Elms Capital will enable DashFuel to accelerate development of its core platform, particularly through additional AI-powered automation and workflow intelligence capabilities. These investments are intended to help customers make faster operational decisions, reduce manual intervention, and improve efficiency across petroleum distribution activities.
DashFuel also plans to expand its sales and go-to-market organization to reach additional petroleum distributors and transportation operators. Alongside these efforts, the company will continue investing in customer success and support infrastructure to maintain service quality as its customer base grows.
Five Elms Capital specializes in growth investments in business-to-business software companies, particularly those delivering AI-powered solutions for specialized industries. The firm manages more than $3 billion in assets, employs over 80 professionals, and has invested in more than 70 software platforms worldwide.
Through the partnership, Five Elms will provide capital and operational expertise to support DashFuel’s growth strategy, product innovation, customer retention, and market expansion.
KEY QUOTES:
“Petroleum distribution runs on thin margins and moves fast, prices shift multiple times a day, and a single operational miss can cost thousands of dollars and a customer relationship. We built DashFuel to give operators the infrastructure to compete: real-time visibility, intelligent automation, and end-to-end workflow control that the industry has long needed. This investment lets us build faster and reach more of the market that needs it.”
Miles Moen, Founder And CEO Of DashFuel
“DashFuel has built something genuinely rare: a modern, end-to-end platform with a team that has earned deep customer trust by delivering real, measurable results. The petroleum distribution market is large, underserved by legacy technology, and ready for a purpose-built solution like DashFuel. We’re excited to partner with Miles and the team as they scale.”
Thomas Kershisnik, Partner At Five Elms Capital
