Motive Revenue, Valuation, Funding & Investors
Motive is valued at $1.2B as of July 2025.
Last Motive valuation
$1.2B
Undisclosed stage · Jul 2025
Last Motive funding round
$1.3B
Undisclosed stage · Sep 2026
Motive revenue
$600M
Undisclosed stage · Sep 2026
Key investors in Motive
Index Ventures
GV
Scale Venture Partners
IVP
Kleiner Perkins
Greenoaks
About Motive
Motive is a San Francisco-headquartered fleet management platform founded in 2013. The company integrates AI dashcams, GPS telematics, ELDs, and compliance tools for 100,000+ vehicles in trucking, construction, oil and gas, and agriculture. Motive's platform automates safety coaching, maintenance scheduling, and spend management, reducing accidents by 50% for clients through real-time analytics and predictive insights.
Founded
2013
HQ
San Francisco, CAWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Revenue
$600M (Sep 2026)
Valuation
$1.2B (Jul 2025)
Motive Valuation
Motive is currently valued at $1.2B, based on its undisclosed-stage round in July 2025.
The $150M round was led by Kleiner Perkins, with participation from AllianceBernstein.
Motive's valuation has grown 2.4x from $500M at its Series C in March 2018 to $1.2B in July 2025, across 5 priced rounds.
Motive valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Jul 2025 | Undisclosed stage | $1.2B | - |
| May 2022 | Series F | $2.9B | 12.4x |
| Apr 2021 | Series E | $2B | 4.0x |
| Apr 2019 | Series D | $1.3B | 5.4x |
| Mar 2018 | Series C | $500M | - |
Motive Revenue
Motive's latest recorded revenue is $600M, as of its undisclosed-stage round in September 2026.
Revenue grew from $230M in April 2019 to $600M in September 2026.
Motive revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Sep 2026 | $600M | - | - | Undisclosed stage |
| May 2022 | $230M | $2.9B | 12.4x | Series F |
| Apr 2021 | $501M | $2B | 4.0x | Series E |
| Apr 2019 | $230M | $1.3B | 5.4x | Series D |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Motive Funding History
Motive has raised a total of $2B across 9 funding rounds.
Motive's first fundraising round was a $2M seed round in July 2013. The most recent completed round was a $1.3B undisclosed-stage round in September 2026.
Motive funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Sep 2026 | Undisclosed stage | General Catalyst (lead) | $1.3B | - | Motive, the AI platform for physical operations formerly known as KeepTruckin, secured more than $1.3 billion in growth financing from General Catalyst’s Customer Value Fund in September 2026. The transaction was structured as growth financing rather than an acquisition, and Motive simultaneously withdrew its previously filed S-1 and remained private; the funding was described as capital to advance its AI platform, scale go-to-market teams, and expand reach across large, complex operations. Motive had recently crossed more than $600 million in annual recurring revenue and was growing at roughly 30% year over year at the time of the announcement. The financing was tied to Motive’s push to accelerate AI product development and commercial expansion, including scaling sales, support, and service teams and extending its platform into maintenance and operations intelligence. The company has positioned itself as a provider of AI software for physical operations and fleet management, serving large enterprises with complex operational workflows. Motive’s prior financing history included a $150 million round led by Kleiner Perkins in July 2025, and the September 2026 transaction brought total funding to more than $700 million. The announcement did not disclose a new valuation, and the company’s funding instrument was a Customer Value Fund growth financing from General Catalyst rather than a traditional equity round or public listing transaction. |
| Jul 2025 | Undisclosed stage | Kleiner Perkins (lead); AllianceBernstein | $150M | $1.2B | Motive, formerly KeepTruckin, is a San Francisco-based AI-powered integrated operations platform for the physical economy, serving nearly 100,000 customers and 1.3 million drivers across industries including logistics, construction, agriculture, oil and gas, utilities, food and beverage, and the public sector. Major clients include FedEx Freight, Cintas, KONE, Davey Tree, ABM, and CRH. The platform combines hardware like AI-powered dashboard cameras with software for fleet management, driver safety, vehicle monitoring, maintenance, and operational efficiency. On July 30, 2025, Motive raised $150 million in a funding round led by Kleiner Perkins, with participation from new investor AllianceBernstein and existing investors. Kleiner Perkins partner Ilya Fushman rejoined the board, having previously led the Series A in 2015 and Series F in 2022. The capital will fund AI capability expansion, international scaling into markets like Mexico, Canada, and the UK, go-to-market team growth, R&D and hiring in India, and enterprise customer momentum. This pre-IPO round positions Motive for a potential public listing as early as late 2025, with JP Morgan hired to lead the IPO alongside Citigroup, Barclays, and Jefferies. Motive has demonstrated strong traction, more than doubling ARR from large enterprise clients (those spending over $100,000) since 2024, with industry-leading net revenue retention over 130%, driven by hundreds of new enterprise customers. The company reports roughly $500 million in annualized recurring revenue and has been cash-flow positive since late 2024. Earlier valuations include $2 billion post-Series F in May 2022 and $2.85 billion in prior rounds, with recent 409a and secondary market data showing $1.14 billion to $1.58 billion, and this round at $1.2 billion. The funding underscores Motive's leadership in AI for fleet tech and physical operations, amid a shift toward integrated platforms optimizing safety, efficiency, profitability, and automation without added human oversight. It competes in a fragmented market by offering end-to-end solutions including telematics and financial services, positioning for dominance as fleets prioritize predictable revenue models and premium growth metrics ahead of public markets. |
| May 2022 | Series F | Insight Partners (lead); Kleiner Perkins (lead); California Technology Ventures | $150M | $2.9B | Motive, formerly KeepTruckin, is an AI-powered integrated operations platform for the physical economy, focusing on fleet management, driver safety, and spend management solutions for industries including transportation, logistics, construction, oil and gas, utilities, telecoms, food and beverage, agriculture, and the public sector. It serves nearly 100,000 customers and 1.3 million drivers, with notable clients like FedEx Freight, Cintas, KONE, Davey Tree, ABM, and CRH. The company combines hardware and software, achieving around 70% gross margins, with 97% of revenue recurring as of later periods. In May 2022, Motive raised $150 million in its Series F round led by Insight Partners and Kleiner Perkins, achieving a post-money valuation of $2.85 billion. The funds were intended to scale investments in AI-powered automation, spend management, and enterprise growth. Total funding raised by Motive across rounds exceeded $865 million by 2025. Traction metrics emerged in subsequent years, with ARR reaching $501 million as of September 30, 2025, up 28% year-over-year, and LTM revenue of $429 million. The company reported strong net dollar retention of 110% for core customers and 126% for large customers, with 494 customers contributing over $100,000 annually representing significant ARR share. Motive expanded globally, including growth in Mexico, Canada, UK launch, and R&D in India and Pakistan, employing over 4,500 people, many internationally for cost efficiency. Competitively, Motive is benchmarked against Samsara, another fleet management SaaS provider with similar 70% gross margins but higher historical growth (76% at IPO with $492M ARR) and superior ARR per employee ($328K vs Motive's $111K). Motive filed for IPO in 2025, highlighting ongoing scaling amid net losses and cash burn. |
| Apr 2021 | Series E | G2 Venture Partners (lead); Greenoaks; BBQ Capital; Index Ventures; IVP; Scale Venture Partners; World Innovation Lab; BlackRock | $190M | $2B | Motive, formerly KeepTruckin, founded in 2013, provides AI-powered hardware and software for fleet management, including video-based driver safety, ELD compliance, GPS tracking, dispatching, fuel management, and maintenance, serving trucking, construction, oil and gas, distribution, and other vehicle-related industries with over 120,000 businesses and one million drivers. On June 17, 2021, KeepTruckin raised $190 million in a Series E round led by G2 Venture Partners, with participation from Index Ventures, Greenoaks, IVP, Scale Venture Partners, funds managed by BlackRock, and others including BBQ Capital and World Innovation Lab (implied by investor list match), valuing the company at over $2 billion per official announcement, reported as $2.3 billion by Bloomberg and dizraptor. The funds were earmarked to build AI-powered products, recruit talent (doubling R&D team to 700), and scale to meet demand in the physical economy. At the time, KeepTruckin had over 2,000 employees and total funding of $417 million from investors including GV, Index Ventures, IVP, Scale Venture Partners, and Greenoaks. This round followed a Series D in April 2019 raising $149 million at $1.4 billion valuation. Competitive context includes rivals like Samsara, with Motive emphasizing AI leadership in fleet safety and operations. |
| Apr 2019 | Series D | Greenoaks (lead); Index Ventures; IVP; GV; Scale Venture Partners | $149M | $1.3B | Motive, formerly known as KeepTruckin, is a fleet management software company providing tools for driver tracking, safety, compliance, and efficiency in the trucking industry. It offers products like electronic logging devices (ELDs), dashcams, asset tracking, and AI-powered predictive alerts to improve operations for trucking companies and drivers. The company was founded to address pain points in the freight sector, starting with compliance solutions amid regulatory changes like the ELD mandate. In April 2019, Motive raised $149 million in a Series D funding round led by Greenoaks Capital, with participation from existing investors GV (Google Ventures), Index Ventures, IVP, and Scale Venture Partners. This brought the company's total funding at the time to around $228 million. The post-money valuation was reported as $1.25 billion, marking it as a unicorn in the trucking tech space. The funds were intended to accelerate growth, invest in AI and machine learning, develop dual-facing dashcams, asset management tools like Trailer Gateway, and expand the team to over 2,000 employees across new offices. At the time of the round, Motive had significant traction with over 55,000 trucking companies and 250,000 individual drivers on its platform, along with more than 250,000 connected vehicles trusted by over 50,000 for-hire carriers. It had expanded to over 1,000 employees across seven global offices and launched initiatives like the Smart Dashcam and an App Marketplace. The trucking industry, projected to reach $1 trillion by 2024, remains underserved by technology, and Motive positioned itself as a leader in connecting trucks for better safety and efficiency. Investors like Greenoaks highlighted the company's network effects and long-term plans including Facility Insights, asset tracking, and a Smart Load Board. |
| Mar 2018 | Series C | IVP (lead); Index Ventures; GV; Scale Venture Partners | $50M | $500M | - |
| May 2017 | Series B | Scale Venture Partners (lead); Index Ventures; GV | $18M | - | Motive is a fleet management and telematics platform founded in 2013 that provides tools for commercial vehicle drivers and fleet managers. The company offers an Electronic Logging Device (ELD), GPS tracking, IFTA reporting, vehicle diagnostics, driver performance monitoring, and vehicle utilization tracking through a mobile and web-based platform. In May 2017, Motive raised $18 million in Series B funding led by Scale Venture Partners, with participation from existing investors GV and Index Ventures. The company highlighted rapid growth momentum driven by the approaching ELD regulatory mandate and planned to deploy capital toward hiring engineers, scaling sales operations, and expanding customer support. The specific post-money valuation for this round was not disclosed. |
| Oct 2015 | Series A | Index Ventures (lead) | $8M | - | Motive, an AI-powered fleet management hardware and software company founded in 2013 by Obaid Khan, Ryan Johns, and Shoaib Makani, raised $8 million in its Series A funding round on October 29, 2015, led by Index Ventures. The funding supported the development and launch of its initial fleet management and driver safety platform. Key investors included Index Ventures, with other participants such as Greenoaks Capital, GV, and individual investors. This Series A followed a $2.3 million seed round in 2013. Motive continued raising capital in subsequent rounds, including a $18 million Series B in May 2017 led by Scale Venture Partners and a $50 million Series C in 2018 led by IVP. |
| Jul 2013 | Seed | Lee Linden; Ben Lewis; GV; Charles Yim; Zubair Jandali | $2M | - | - |
Who has invested in Motive?
18 investors have backed Motive across its funding rounds, including Index Ventures, GV, Scale Venture Partners, IVP, Kleiner Perkins and Greenoaks.
Lead investors include General Catalyst, Kleiner Perkins, Insight Partners, G2 Venture Partners, Greenoaks and 3 other investors.
Motive Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
 London | 5 | Lead | Oct 2015 | |
| San Francisco, CA | 4 | Participant | Jul 2013 | |
| San Francisco, CA | 4 | Lead | May 2017 | |
| San Francisco, CA | 3 | Lead | Mar 2018 | |
| San Francisco, CA | 2 | Lead | Apr 2019 | |
| San Francisco, CA | 2 | Lead | May 2022 | |
![](data:image/svg+xml,<svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 20 20"><rect fill="%23e5e7eb" width="20" height="20" rx="4"/></svg>){kind=small} Lee Linden | New York City, NY | 1 | Participant | Jul 2013 |
| San Francisco, CA | 1 | Lead | Sep 2026 | |
| San Francisco, CA | 1 | Participant | Apr 2021 | |
| Ben Lewis | San Francisco, CA | 1 | Participant | Jul 2013 |
| San Francisco, CA | 1 | Participant | Apr 2021 | |
| Charles Yim | United States | 1 | Participant | Jul 2013 |
| San Francisco, CA | 1 | Lead | Apr 2021 | |
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Start Free TrialAcquisitions by Motive
Motive has acquired 2 companies to date.
Last acquisition by Motive was on June 17th 2025. Motive acquired InceptEV for undisclosed valuation.
Latest Acquisitions by Motive
| Description | InceptEV is a simulation-driven electric vehicle data platform for fleet management headquartered in Tel Aviv, Israel. The company optimizes operations planning through digital twins that model charging, routing, and maintenance for commercial EV fleets. Logistics providers use its tools to reduce costs and downtime in urban delivery networks. | Supervaisor is a Tel Aviv-based traffic safety company combining AI and human-reported data through dashcam devices. Its hardware includes background video recording, GPS mapping, and one-touch incident clipping for insurance claims. The platform analyzes footage to detect hazards like drowsiness or tailgating, serving drivers in Israel and expanding to Europe with fleet management integrations. |
| HQ Country | |  |
| HQ City | Pittsburgh, PA | Tallinn |
| Deal Date | 17 Jun 2025 | 11 May 2022 |
| Valuation | undisclosed | undisclosed |
| EV/Revenue | ||
| EV/EBITDA | ||
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Motive Competitors
Motive competitors include listed companies like GuoChuang Software, EquipmentShare.com, Shenzhen Sunwin and ServiceTitan, and private ones like Augury and Vention.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| New York City, NY | Private | $100M | - | $1B | - | |
 China | Publicly listed | $220M | ($17M) | $960M | - | |
| United States | Publicly listed | $4.4B | $704M | $4.6B | 1.8x | |
 Montreal | Private | $73M | - | $1.2B | 16.4x | |
| China | Publicly listed | $20M | ($147M) | $687M | - | |
| United States | Publicly listed | $961M | ($86M) | $5.2B | 4.5x |
Motive Public Comps
Motive is still privately-owned, but its public comps include Imdex, Blackbuck, Zwsoft, Optasia, Wuxi Boton Technology, Arcs Co, Vitec Software, BigBear.ai, iFLYHealth and Extreme Vision.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $370M | $94M | 3.7x | 3.6x | 14.6x | 11.4x | |||
| $67M | $16M | 16.5x | 14.5x | 68.3x | 53.2x | |||
| $133M | $12M | 7.4x | 6.9x | 79.9x | 49.1x | |||
| $265M | $79M | 4.3x | 3.6x | 14.5x | 9.1x | |||
| $516M | $55M | 2.4x | - | 22.6x | - | |||
| $4B | $185M | 0.2x | 0.2x | 4.8x | 4.9x | |||
| $371M | $151M | 3.7x | 3.5x | 9.1x | 9.0x | |||
| $128M | ($295M) | 8.3x | 7.6x | (3.6x) | (27.8x) | |||
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Common questions about Motive
| When was Motive founded? | Motive was founded in 2013. |
| Where is Motive headquartered? | Motive is headquartered in San Francisco, CA, United States. |
| Is Motive publicly listed? | No, Motive is a private, VC-backed company. |
| What is Motive's valuation? | Motive was last valued at $1.2B in its undisclosed-stage round in July 2025. |
| How much funding has Motive raised? | Motive has raised $2B across 9 funding rounds. |
| What was Motive's last funding round? | Motive's last funding round was a $1.3B undisclosed-stage round in September 2026, led by General Catalyst. |
| Who are Motive's investors? | Motive's investors include Index Ventures, GV, Scale Venture Partners, IVP, Greenoaks, Kleiner Perkins, Lee Linden, General Catalyst, BBQ Capital, Ben Lewis and 8 others. |
| What is Motive's revenue? | Motive's latest recorded revenue is $600M (September 2026). |
| Which companies are comparable to Motive? | Companies comparable to Motive include Augury, GuoChuang Software, EquipmentShare.com, Vention, Shenzhen Sunwin and ServiceTitan. |
| How many companies has Motive acquired? | Motive has acquired 2 companies, including InceptEV and Supervaisor. |
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