Motive, the AI platform for physical operations, today announced that it has secured more than $1.3 billion in growth financing from General Catalyst’s Customer Value Fund (CVF). Motive will use the capital to advance its AI platform, scale its go-to-market teams, and extend its reach with the world’s largest and most complex operations.
As part of this financing, Pranav Singhvi, Managing Director at General Catalyst, has joined Motive’s Board of Directors.
The financing follows the strongest quarter in Motive’s history, with continued acceleration in growth and deepening enterprise adoption:
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- Annual recurring revenue (ARR) crossed $600 million.
- ARR growth rate accelerated to 30% year-over-year.
- Momentum was strongest with the largest organizations, with ARR from customers above $100,000 growing nearly 60% year-over-year and net revenue retention above 120%.
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“Motive is building the intelligence layer for the physical economy,” said Shoaib Makani, co-founder and CEO of Motive. “AI that can see what’s happening on the road and in the field, understand what matters, and take action. For our customers, that means preventing collisions, avoiding downtime, and eliminating manual work. This financing will help us move faster and bring that value to more of the people and organizations that keep the world moving.”
“From our earliest conversations, it was clear that General Catalyst shares our long-term vision for building Motive into a generational business,” said Chirag Shah, Chief Financial Officer of Motive. “Our momentum has never been stronger, and this financing will allow us to compound that for years to come through continued cutting-edge product innovation and scaling our go-to-market engine. With a large and rapidly expanding opportunity in front of us, we’re thrilled to have the capital to fully realize it.”
“The physical AI market, and edge AI specifically, represents one of the most compelling long-term opportunities we see today,” said Pranav Singhvi, Managing Director at General Catalyst. “Motive is at the forefront of that, with the market-leading platform that puts AI to work in the field, on the road, and on the job site in ways that deliver immediate, tangible ROI to customers. This has helped Motive become one of the rare businesses we have come across whose fundamentals continue to grow stronger with scale, and we have no doubt the best is yet to come.”
Financing will advance Motive’s AI platform and deepen automation across operations
Motive’s AI helps customers prevent collisions, keep vehicles and equipment running, and free their teams from manual work. Motive will use the financing to deepen its investment in AI across the platform. The company will expand its platform with new products like Maintenance, Operations Intelligence, and new AI capabilities that help customers improve safety, increase productivity, and solve their most complex operational challenges.
Motive scales go-to-market under a proven enterprise leader
The capital will also help scale go-to-market teams across segments and geographies. Earlier this year, Motive named enterprise veteran Thomas Hansen as its first President, Go-to-Market, to lead the company’s global go-to-market organization. Hansen brings decades of experience scaling software and hardware companies. He has held senior leadership roles at numerous public companies, including Amplitude, UiPath, Dropbox, and Microsoft.
Given this financing, Motive has withdrawn its previously filed S-1 registration statement and remains well positioned to pursue a public listing in the future.
To learn more about the Motive platform, visit https://gomotive.com/products/platform/.
About Motive
Motive empowers the people who run physical operations with tools to make their work safer, more productive, and more profitable. For the first time, safety, operations, and finance teams can manage their workers, vehicles, equipment, and fleet-related spend in a single system. Motive serves nearly 100,000 customers from small businesses to Fortune 500 enterprises across a wide range of industries including transportation and logistics, construction, energy, field service, manufacturing, agriculture, food and beverage, retail, waste services, and the public sector. Visit gomotive.com to learn more.
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