Motive (company) explained

Motive Technologies, Inc.
Type:Private
Founded:2013[1]
Founder:Shoaib Makani, CEO[2] [3]
Obaid Khan, COO
Joe Moran, CFO
Key People:Shoaib Makani, CEO
Obaid Khan, COO
Joe Moran, CFO
[4]
Location:San Francisco, California
Num Employees:3,500
Area Served:North America, Canada

Motive (formerly KeepTruckin) is a technology company that creates software used by truck companies and a range of industries, including transportation and logistics, construction, energy, field service, manufacturing, agriculture, food and beverage, passenger transit, retail, and the public sector.

History

Founding

In 2013, Shoaib Makani, with co-founders Ryan Johns and Obaid Khan, founded KeepTruckin to improve the safety and efficiency of businesses.[5] They began with an electronic logbook app for drivers to record their hours of service (HOS). Later, they expanded the platform to include vehicle and equipment tracking, driver safety, compliance, maintenance, and spend management.[6]

2022 rebrand

In 2022, KeepTruckin rebranded as Motive.[7] [8]

Present

In 2022, Motive claimed that it serves more than 120,000 businesses.[9]

Funding history

In 2013, the company raised seed capital in the amount of $2.3 million.

In 2015, the company received $8 million in Series A venture funding led by Index Ventures.[10]

In 2017, the company raised $18 million in Series B venture funding led by Scale Venture Partners, Index Ventures and GV, the venture capital investment arm of Alphabet Inc.[11]

In 2018, the company raised $50 million in Series C venture funding led by IVP, GV, Index Ventures, and Scale Venture Partners.[12]

In 2019, the company received $149 million in Series D venture funding, mostly from Capital.[13] [14] [15]

In 2021, the company secured $200 million in Series E venture funding, led by G2VP.[16] [17] [18]

In 2022, the company raised $150 million in Series F venture funding co-led by Insight Partners and Kleiner Perkins.[19] [9] After funding, Motive reached a $2.85 billion valuation.[20]

See also

Notes and References

  1. Web site: KeepTruckin review. TechRadar. 2020. Soni. Jitendra. September 19, 2021.
  2. Web site: KeepTruckin is a new competitor for Uber Freight. CNBC Television. April 26, 2019. May 21, 2021.
  3. Web site: FreightTech Award. Freightwaves. 2020. May 21, 2021.
  4. Web site: KeepTruckin Reaches $1.4B Valuation After $149M Fundraise In Latest Sign Of Cash Pouring Into Trucking Industry. Forbes. April 23, 2019. Feldman. Amy. May 20, 2021.
  5. Web site: Makani . Shoaib . 2022-04-12 . Meet Motive. . 2022-07-26 . Motive (formerly KeepTruckin) . en-US.
  6. Web site: Brody . Liz . The Trucking Industry Was Ripe for Disruption, and This Tech Company Made Billions Doing It . 2022-07-26 . Entrepreneur . 12 April 2022 . en.
  7. Web site: KeepTruckin Rebrands as Motive, Launches Automated Operations Platform . 2022-07-26 . www.yahoo.com . en-US.
  8. Web site: 2022-04-12 . KeepTruckin Rebrands as Motive, Launches Automated Operations Platform . 2022-07-26 . www.businesswire.com . en.
  9. Web site: Automating the physical economy . 2022-07-26 . www.kleinerperkins.com . en.
  10. Web site: KeepTruckin Raises $8M Led By Index Ventures To Bring Logging Miles For Truckers Into The 21st Century . 2022-07-26 . TechCrunch . 29 October 2015 . en-US.
  11. News: 2017-05-18 . KeepTruckin raises $18 million as Silicon Valley eyes trucking industry . en . Reuters . 2022-07-26.
  12. Web site: 2018-03-21 . KeepTruckin raises $50 million from IVP, GV, others to grow its fleet management tech . 2022-07-26 . VentureBeat . en-US.
  13. Web site: KeepTruckin Hauls In $8M for Electronic Trucking-Log Technology. Wall Street Journal. October 28, 2015. Kolodny. Lora. May 20, 2021.
  14. Web site: KeepTruckin gets $18M in funding; plans to extend ELD telematics platform. CCJ. May 22, 2017. Huff. Aaron. May 20, 2021.
  15. Web site: KeepTruckin raises $50 million from IVP, GV, others to grow its fleet management tech. Venture Beat. March 21, 2018. Sawers. Paul. May 20, 2021.
  16. Web site: Jawaid. Aleena. 2021-06-22. KeepTruckin raises $190 Million in a Series E funding round, raising the company's valuation over $2 billion. 2021-06-26. Technologistan. en-US.
  17. Web site: Tan. Gillian. 2021-06-17. KeepTruckin Raises Fresh Funds Valuing Startup at $2.3 Billion. Bloomberg. en-US.
  18. Web site: KeepTruckin raises $190 million to invest in AI products, double R&D team to 700 . 2022-07-26 . TechCrunch . 17 June 2021 . en-US.
  19. Web site: Motive Raises $150 Million in Series F Funding // Cooley // Global Law Firm . 2022-07-26 . www.cooley.com . en.
  20. News: 2022-05-25 . Insight, Kleiner Perkins Back Motive at $2.85 Billion Valuation . en . Bloomberg.com . 2022-07-26.

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