Motive (company)

Motive (formerly KeepTruckin) is a technology company that builds products to improve the safety, productivity, and profitability of businesses that power the physical economy.[6]

For the video game developer and studio of Electronic Arts, see Motive Studio.
Motive Technologies, Inc.
TypePrivate
Industry
Founded2013[1][2]
FounderShoaib Makani, CEO[3][4]

Obaid Khan, COO

Joe Moran, CFO
HeadquartersSan Francisco, California
Area served
North America, Canada
Key people
Shoaib Makani, CEO
Obaid Khan, COO
Joe Moran, CFO
[5]
Number of employees
3,500[1]
Websitegomotive.com

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.[2][7][8][9][10]

History

Founding

In 2013, Shoaib Makani with co-founders, Ryan Johns and Obaid Khan, founded KeepTruckin to improve the safety and efficiency of businesses that keep the economy moving.[11] They began with an electronic logbook app for drivers to record their hours of service (HOS). Over time, they expanded the platform to solve a broad range of operational problems businesses face including vehicle and equipment tracking, driver safety, compliance, maintenance, spend management and more.[12]

2022 rebrand

In 2022, KeepTruckin rebranded as Motive to reflect the breadth of problems the company solves and the wide range of industries the company serves outside of long-haul trucking.[13][14]

Present

Motive now serves more than 120,000 businesses,[15] across a wide range of industries including trucking and logistics, construction, oil and gas, food and beverage, field service, agriculture, passenger transit, and delivery. Motive has more than 3,500 employees across eight global offices.

Funding history

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

In 2015, the company secured $8 million in Series A venture funding led by Index Ventures.[16]

In 2017, the company secured $18 million in Series B venture funding led by Scale Venture Partners, Index Ventures and GV, the venture capital investment arm of Alphabet Inc.[17]

In 2018, the company secured $50 million in Series C venture funding led by IVP, GV, Index Ventures, and Scale Venture Partners.[18]

In 2019, the company secured $149 million in Series D venture funding, mostly from Capital.[19][20][21]

In 2021, the company secured $200 million in Series E venture funding, led by G2VP.[22][23][24]

In 2022, the company secured $150 million in Series F venture funding co-led by Insight Partners and Kleiner Perkins.[25][15] After funding, Motive reached a $2.85 billion valuation.[26]

Products

Motive combines an IoT platform with AI-powered applications to automate the management of physical operations.

Applications

Sitting atop Motive’s IoT platform are applications that automate vehicle and equipment tracking, driver safety, compliance, maintenance, spend management, and much more. These include:

  • Tracking and telematics
  • Driver safety
  • Compliance
  • Dispatch and workflow
  • Maintenance
  • Sustainability
  • Spend management

IoT platform

At Motive’s core is an IoT platform that connects vehicles, equipment, and facilities. It unlocks the data that makes automated operations possible. These include:

  • Vehicle Gateway
  • Asset Gateway
  • AI Dashcam
  • Environmental sensors
  • OEM telematics

See also

References
  1. https://www.linkedin.com/company/motive-inc/mycompany/
  2. Soni, Jitendra (2020). "KeepTruckin review". TechRadar. Retrieved September 19, 2021.
  3. "KeepTruckin is a new competitor for Uber Freight". CNBC Television. April 26, 2019. Retrieved May 21, 2021.
  4. "FreightTech Award". Freightwaves. 2020. Retrieved May 21, 2021.
  5. Feldman, Amy (April 23, 2019). "KeepTruckin Reaches $1.4B Valuation After $149M Fundraise In Latest Sign Of Cash Pouring Into Trucking Industry". Forbes. Retrieved May 20, 2021.
  6. Motive (2022-03-25). "Powering the businesses that keep our economy moving". Motive (formerly KeepTruckin). Retrieved 2022-07-26.
  7. Bradley, Tony (2021-08-12). "Keeping The Roads Safe And Protecting Drivers With AI". Forbes.
  8. Haws, Clarissa (December 24, 2020). "FreightTech 25: KeepTruckin focuses on innovation in 2020". FreightWaves. Retrieved May 21, 2021.
  9. Takahashi, Dean (2021-08-12). "KeepTruckin uses Ambarella AI chips to monitor truck drivers". VentureBeat.
  10. David Louie [@abc7david] (August 26, 2021). "As more passenger cars are equipped with safety tech to prevent accidents, why aren't more trucks? Hear from @KeepTruckinInc & @TRUCKINGdotORG. #abc7now" (Tweet) – via Twitter.
  11. Makani, Shoaib (2022-04-12). "Meet Motive". Motive (formerly KeepTruckin). Retrieved 2022-07-26.
  12. Brody, Liz (12 April 2022). "The Trucking Industry Was Ripe for Disruption, and This Tech Company Made Billions Doing It". Entrepreneur. Retrieved 2022-07-26.
  13. "KeepTruckin Rebrands as Motive, Launches Automated Operations Platform". www.yahoo.com. Retrieved 2022-07-26.
  14. "KeepTruckin Rebrands as Motive, Launches Automated Operations Platform". www.businesswire.com. 2022-04-12. Retrieved 2022-07-26.
  15. "Automating the physical economy". www.kleinerperkins.com. Retrieved 2022-07-26.
  16. "KeepTruckin Raises $8M Led By Index Ventures To Bring Logging Miles For Truckers Into The 21st Century". TechCrunch. 29 October 2015. Retrieved 2022-07-26.
  17. "KeepTruckin raises $18 million as Silicon Valley eyes trucking industry". Reuters. 2017-05-18. Retrieved 2022-07-26.
  18. "KeepTruckin raises $50 million from IVP, GV, others to grow its fleet management tech". VentureBeat. 2018-03-21. Retrieved 2022-07-26.
  19. Kolodny, Lora (October 28, 2015). "KeepTruckin Hauls In $8M for Electronic Trucking-Log Technology". Wall Street Journal. Retrieved May 20, 2021.
  20. Huff, Aaron (May 22, 2017). "KeepTruckin gets $18M in funding; plans to extend ELD telematics platform". CCJ. Retrieved May 20, 2021.
  21. Sawers, Paul (March 21, 2018). "KeepTruckin raises $50 million from IVP, GV, others to grow its fleet management tech". Venture Beat. Retrieved May 20, 2021.
  22. Jawaid, Aleena (2021-06-22). "KeepTruckin raises $190 Million in a Series E funding round, raising the company's valuation over $2 billion". Technologistan. Retrieved 2021-06-26.
  23. Tan, Gillian (2021-06-17). "KeepTruckin Raises Fresh Funds Valuing Startup at $2.3 Billion". Bloomberg.
  24. "KeepTruckin raises $190 million to invest in AI products, double R&D team to 700". TechCrunch. 17 June 2021. Retrieved 2022-07-26.
  25. "Motive Raises $150 Million in Series F Funding // Cooley // Global Law Firm". www.cooley.com. Retrieved 2022-07-26.
  26. "Insight, Kleiner Perkins Back Motive at $2.85 Billion Valuation". Bloomberg.com. 2022-05-25. Retrieved 2022-07-26.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.