Total amount raised
$1.4 Billion
Latest funding date
4/1/2019
Location
Motive has successfully raised significant funding over multiple rounds, attracting a diverse group of investors. The platform offers comprehensive solutions for fleet management and driver safety, leveraging AI-powered automation to enhance productivity and safety.
Keep reading to explore the intricacies of Motive's fundraising journey and the investors backing this innovative platform.
What Is Motive?
Motive, founded in 2013 by Obaid Khan and Shoaib Makani, is headquartered in San Francisco, California. The company specializes in providing a comprehensive platform for fleet management and driver safety, leveraging AI-powered automation to enhance productivity and safety.
With a workforce of 1001-5000 employees, Motive focuses on improving the safety, productivity, and profitability of businesses that power the physical economy. Their platform includes products for driver safety, fleet management, equipment monitoring, and spend management.
Motive's solutions cater to various industries, including transportation, logistics, construction, and more. The company's mission is to empower the physical economy through innovative technology and integrated operations.
How Much Funding Has Motive Raised?
- Seed Round
- Amount Raised: $2.3M
- Date: July 2013
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial product and enter the market.
- Series A
- Amount Raised: $8M
- Date: October 2015
- Lead Investors: Index Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and scale the product.
- Series B
- Amount Raised: $18M
- Date: May 2017
- Lead Investors: Scale Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product features and increase market penetration.
- Series C
- Amount Raised: $50M
- Date: March 2018
- Lead Investors: IVP
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and expand into new markets.
- Series D
- Amount Raised: $149M
- Date: April 2019
- Lead Investors: Greenoaks
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop AI capabilities and expand the customer base.
- Corporate Round
- Amount Raised: Not publicly disclosed
- Date: September 2019
- Lead Investors: ITOCHU Corporation
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To form strategic partnerships and enhance market reach.
- Series E
- Amount Raised: $190M
- Date: April 2021
- Lead Investors: G2 Venture Partners
- Valuation at Round: $2.3 billion
- Motivation Behind the Round: To scale AI-powered automation and expand product offerings.
- Series F
- Amount Raised: $150M
- Date: May 2022
- Lead Investors: Insight Partners, Kleiner Perkins
- Valuation at Round: $2.85 billion
- Motivation Behind the Round: To invest in AI, spend management, and enterprise growth.
- Secondary Market
- Amount Raised: Not publicly disclosed
- Date: December 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to early investors and employees.
- Secondary Market
- Amount Raised: Not publicly disclosed
- Date: October 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to early investors and employees.
Total Amount Raised: $567.3M. Current Valuation: $2.85 billion.
Key Investors
- Insight Partners
- Details: Insight Partners is a global private equity and venture capital firm that invests in growth-stage technology and software companies. They have a strong track record of supporting companies through various stages of growth.
- Investment Focus Areas: Technology, software, internet businesses
- Notable Investments: Twitter, Shopify, DocuSign
- Kleiner Perkins
- Details: Kleiner Perkins is a venture capital firm specializing in investments in early-stage and growth companies across various sectors, including technology and life sciences. They are known for backing some of the most successful tech companies.
- Investment Focus Areas: Technology, life sciences, healthcare
- Notable Investments: Google, Amazon, Uber
- G2 Venture Partners
- Details: G2 Venture Partners is a venture capital firm that focuses on technology companies driving sustainable transformation in traditional industries. They aim to support companies that are innovating in significant ways.
- Investment Focus Areas: Technology, sustainability, industrial transformation
- Notable Investments: Proterra, Luminar, Trove
- ITOCHU Corporation
- Details: ITOCHU Corporation is a Japanese trading company with a diverse portfolio, including investments in technology, energy, and consumer goods. They are one of the largest trading companies in Japan.
- Investment Focus Areas: Technology, energy, consumer goods
- Notable Investments: FamilyMart, CITIC, CP Group
- Greenoaks
- Details: Greenoaks is a global investment firm that invests in technology companies at various stages of growth. They focus on long-term partnerships with their portfolio companies.
- Investment Focus Areas: Technology, consumer sectors
- Notable Investments: Discord, Robinhood, Stripe
What's Next for Motive?
Motive stands at the cusp of significant growth, driven by the increasing demand for AI-powered automation in fleet management. With a recent $150 million Series F funding round, the company is poised to expand its product suite into spend management and grow its enterprise capabilities. This opportunity is vast, given the company's valuation of $2.85 billion and its service to over 120,000 businesses.
Future fundraising opportunities seem promising as Motive continues to scale its AI and machine learning capabilities. However, the company may face challenges such as managing rapid growth, maintaining high safety standards, and navigating competition in the AI and automation space. Despite these hurdles, Motive's strategic investments and expanding customer base position it well for continued success.
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