Motive Raises $150 Million at $2.85 Billion Valuation

Motive is a developer of the technology that improves the safety and profitability of businesses, thus powering the physical economy. Motive designs and develops a platform, the Motive Automated Operations Platform, for automation of vehicle and equipment tracking, compliance, driver safety, spend management, maintenance, etc., with the help of IoT and AI.

The Series F funding round was led by Insight Partners and Kleiner Perkins. The money raised will be used for investing in AI, expansion of the company’s product suite into spend management, as well as enterprise capabilities growth. “We recognize the long-term value Motive offers to customers, we are impressed by their technology, ability to execute, and market potential,” Teddie Wardi, managing director at Insight Partners.

Motive, San Francisco, the USA, was founded by Obaid Khan, Ryan Johns, and Shoaib Makani in 2013. Formerly known as KeepTruckin, the company changed its name to Motive in April because it aims to provide software and hardware applications not only for logistics and trucking. Among Motive’s offerings is an AI dashcam for unsafe driving detection and reduction of accidents. Moreover, Motive provides fleet managers with a corporate card to track fleet operations. “The additional funding allows us to accelerate the development of our technology and scale our team to serve our expanding customer base. We continue to execute on our mission to transform the safety, productivity, and profitability of businesses that power the physical economy,” Shoaib Makani, Motive’s CEO.

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