Motive Raises $150M in Series F Funding

Motive

Motive, a San Francisco, CA-based Automated Operations Platform for the physical economy, raised $150M in additional Series F funding at a $2.85 billion valuation.

The round was co-led by Insight Partners and Kleiner Perkins.

The company will use this additional capital to scale its investment in three key areas:

  • accelerate its investment in AI,
  • expand its product suite into spend management, and
  • grow its enterprise capabilities.

Led by Shoaib Makani, CEO, Motive builds technology to improve the safety, productivity, and profitability of businesses that power the physical economy. The Motive Automated Operations Platform combines IoT hardware with AI-powered applications to automate vehicle and equipment tracking, driver safety, compliance, maintenance, spend management, and more. in the field of spend management, the company provides the Motive Card, a corporate card natively integrated with a fleet management platform, giving businesses an all-in-one solution to automate their financial and physical operations.

The company serves more than 120,000 businesses, across a wide range of industries including trucking and logistics, construction, oil and gas, food and beverage, field service, agriculture, passenger transit, and delivery.

FinSMEs

25/05/2022