Motive (company)
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| Company type | Private |
|---|---|
| Industry | |
| Founded | 2013[1] |
| Founder | Shoaib Makani, CEO[2][3] Obaid Khan, COO Joe Moran, CFO |
| Headquarters | San Francisco, California |
Area served | North America, Canada |
Key people | Shoaib Makani, CEO Obaid Khan, COO Joe Moran, CFO [4] |
Number of employees | 3,500[citation needed] |
| Website | gomotive |
Motive (formerly KeepTruckin) is a technology company that creates software used by truck companies. Its main product is Hours of Service monitoring using GPS tracking and dashcams.[5][1][6][7][8]
History
[edit]Founding
[edit]In 2013, Shoaib Makani, with co-founders Ryan Johns and Obaid Khan, founded KeepTruckin to improve the safety and efficiency of businesses.[9] 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.[10]
2022 rebrand
[edit]In 2022, KeepTruckin rebranded as Motive.[11][12]
Present
[edit]In 2022, Motive claimed that it serves more than 120,000 businesses.[13]
Funding history
[edit]In 2013, the company raised seed capital in the amount of $2.3 million.[citation needed]
In 2015, the company received $8 million in Series A venture funding led by Index Ventures.[14]
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.[15]
In 2018, the company raised $50 million in Series C venture funding led by IVP, GV, Index Ventures, and Scale Venture Partners.[16]
In 2019, the company received $149 million in Series D venture funding, mostly from Capital.[17][18][19]
In 2021, the company secured $200 million in Series E venture funding, led by G2VP.[20][21][22]
In 2022, the company raised $150 million in Series F venture funding co-led by Insight Partners and Kleiner Perkins.[23][13] After funding, Motive reached a $2.85 billion valuation.[24]
See also
[edit]- Software as a service
- Fleet management software
- Hours of service
- Electronic logging device
- Trucking industry in the United States
References
[edit]- ^ a b Soni, Jitendra (2020). "KeepTruckin review". TechRadar. Retrieved September 19, 2021.
- ^ "KeepTruckin is a new competitor for Uber Freight". CNBC Television. April 26, 2019. Retrieved May 21, 2021.
- ^ "FreightTech Award". Freightwaves. 2020. Retrieved May 21, 2021.
- ^ 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.
- ^ Soni, Jitendra (2020). "KeepTruckin review". TechRadar. Retrieved May 20, 2021.
- ^ Bradley, Tony (2021-08-12). "Keeping The Roads Safe And Protecting Drivers With AI". Forbes.
- ^ Haws, Clarissa (December 24, 2020). "FreightTech 25: KeepTruckin focuses on innovation in 2020". FreightWaves. Retrieved May 21, 2021.
- ^ Takahashi, Dean (2021-08-12). "KeepTruckin uses Ambarella AI chips to monitor truck drivers". VentureBeat.
- ^ Makani, Shoaib (2022-04-12). "Meet Motive". Motive (formerly KeepTruckin). Retrieved 2022-07-26.
- ^ 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.
- ^ "KeepTruckin Rebrands as Motive, Launches Automated Operations Platform". www.yahoo.com. Retrieved 2022-07-26.
- ^ "KeepTruckin Rebrands as Motive, Launches Automated Operations Platform". www.businesswire.com. 2022-04-12. Retrieved 2022-07-26.
- ^ a b "Automating the physical economy". www.kleinerperkins.com. 25 May 2022. Retrieved 2022-07-26.
- ^ "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.
- ^ "KeepTruckin raises $18 million as Silicon Valley eyes trucking industry". Reuters. 2017-05-18. Retrieved 2022-07-26.
- ^ "KeepTruckin raises $50 million from IVP, GV, others to grow its fleet management tech". VentureBeat. 2018-03-21. Retrieved 2022-07-26.
- ^ Kolodny, Lora (October 28, 2015). "KeepTruckin Hauls In $8M for Electronic Trucking-Log Technology". Wall Street Journal. Retrieved May 20, 2021.
- ^ Huff, Aaron (May 22, 2017). "KeepTruckin gets $18M in funding; plans to extend ELD telematics platform". CCJ. Retrieved May 20, 2021.
- ^ 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.
- ^ 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.
- ^ Tan, Gillian (2021-06-17). "KeepTruckin Raises Fresh Funds Valuing Startup at $2.3 Billion". Bloomberg.
- ^ "KeepTruckin raises $190 million to invest in AI products, double R&D team to 700". TechCrunch. 17 June 2021. Retrieved 2022-07-26.
- ^ "Motive Raises $150 Million in Series F Funding // Cooley // Global Law Firm". www.cooley.com. Retrieved 2022-07-26.
- ^ "Insight, Kleiner Perkins Back Motive at $2.85 Billion Valuation". Bloomberg.com. 2022-05-25. Retrieved 2022-07-26.