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Motive

Invest in Motive

Logistics Tech

Founded: 2013

Headquarters: San Francisco, California

gomotive.com

Status

Available

Last Round Valuation

$50 Billion

Share Price

$50.00

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About
Summary
Valuation

About Motive

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. Motive 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.

Key Facts

With one platform spanning driver safety, compliance, spend management, tracking and telematics, dispatch and workflow, maintenance, sustainability, integrations, and an app marketplace, Motive offers a fully integrated suite of products to connect and automate a company’s operations.

Motive’s AI-powered applications automate vehicle and equipment tracking, driver safety, ELD (Electronic Logging Device) compliance, and more.

Motive’s IoT platform connects vehicles, equipment, and facilities to the cloud, bringing a company’s physical operations online.

Alongside its rebrand, Motive launched the Automated Operations Platform, which combines its IoT hardware with its artificial intelligence software to bring automation to industrial fleets for asset tracking, compliance, spend management and driver safety.

With a modern AI + IoT solution to address $700 billion worth of loads moved every year, touching every single person in the world, Motive is massively disrupting a market that is very slow and extremely inefficient.

Companies that have integrated with Motive’s technology have reported a 22% reduction in accidents, a 20% improvement in utilization, and a 25% reduction in insurance premiums.

Motive’s AI Dashcam detects unsafe driving behavior with unrivaled accuracy and alerts drivers in real-time. Motive uploads HD video of all unsafe driving events to the cloud within seconds and provides tools like Video Recall and Live Stream so that businesses have complete visibility into their operations. In a recent independent study, Motive’s AI Dashcam accurately detected 89% of unsafe driving behavior.

Motive’s Fuel Hub solution utilizes telematics data and artificial intelligence to identify driver and vehicle fuel efficiency, helping fleets locate potential fuel cost leaks.

Motive’s Fleet View is a next-generation GPS tracking portfolio powered by best-in-class live visibility to help fleets maximize productivity and better serve their customers. Fleet View is a proprietary live map that brings everything a fleet does in a day across GPS tracking, ELD compliance, and driver safety into one powerful view.

To improve spend management, the Company’s Motive Card is the first corporate card natively integrated with a fleet management platform, giving businesses an all-in-one solution to automate their financial and physical operations.

Motive has experienced 70% annualized growth since the pandemic, in large part due to expansion into new markets like construction, oil and gas, food and beverage, field services, moving and storage and agriculture.

As of May 2022, Motive’s annual recurring revenue exceeded $250 million, and it’s growing at an annualized rate of more than 70% according to Bloomberg.

Most of Motive’s customers discover the service through word of mouth – users love the app making integration seamless for diverse businesses.

Much of Motive’s tech will eventually power autonomous vehicles to make roads safer, according to TechCrunch, something that’s also becoming increasingly relevant as the demand for trucking continues to outpace supply of drivers.

Motive recently partnered with J.B. Hunt Transportation Services, to create the Motive Smart Load Board. The Smart Load Board is the first and only ELD-based freight marketplace that automatically matches loads based on a deep understanding of a carrier’s needs and preferences. The integration will provide greater visibility into capacity and offer carriers freight opportunities that better align with their operations.

Motive recently partnered with Navistar, a manufacturer and solutions provider to the trucking industry, to integrate the company’s platforms and expand its data services. The partnership between Motive and Navistar combines thousands of vehicle data points to help fleets run safer and more cost-effective operations.

Motive is a Forbes Cloud 100 company and recognized by Inc Magazine as a “Best Place to Work.” Motive was also recently recognized by Comparably as one of the Best Companies for Diversity.

In December 2022, Motive partnered with Progressive Commercial, helping customers save money by promoting driver safety. Motive’s partnership with Progressive Commercial supports customers’ commitment to safety and compliance by offering additional discounts, including a 40-50% monthly per vehicle subsidy on the dash cam subscription within the Motive Driver Safety solution. It also provides Motive customers with access to the Progressive Commercial Smart Haul program, with the opportunity to reduce their insurance premiums by monitoring and coaching driver behavior using Motive Driver Safety.

In May 2023, Motive announced they have formed a strategic partnership with Platform Science to improve safety and operational outcomes for the businesses that power the physical economy. As two leading providers of telemetric fleet data, the collaboration between Platform Science and Motive will enable mutual customers to leverage Motive's technologies to dramatically enhance their fleet safety. Many businesses use Platform Science to access the data they need to run their business, including being the solution to run compliance for the largest fleets in America. But fleets need the ability to access Motive safety telematics directly from within Platform Science. Motive’s AI-powered safety solution enhances fleet safety and can help businesses increase revenue, cut costs, and drive success. In addition, through the Motive integration, companies can see and manage safety-related incidents for improved safety and increased efficiency.

In June 2023, Motive announced the new Motive AI Omnicam. With the Omnicam Motive customers get 360° visibility around every vehicle, every second of every day. The AI Omnicam is the only vehicle camera with AI-enabled hardware built for side, rear, passenger, and cargo monitoring. When paired with Motive’s AI Dashcam, the Motive camera system gives commercial fleets up to six camera angles and unprecedented visibility into everything that happens.

In August 2023, Motive was named to the Forbes 2023 Cloud 100, marking the sixth consecutive year they have been named to the definitive ranking of the top 100 private cloud companies in the world. Published by Forbes in partnership with Bessemer Venture Partners and Salesforce Ventures, the Cloud 100 reviews submissions from hundreds of cloud startups and private companies each year. The Cloud 100 evaluation process involved ranking companies across four factors: market leadership (35%), estimated valuation (30%), operating metrics (20%), and people & culture (15%). For market leadership, the Cloud 100 enlists the help of a judging panel of public cloud company CEOs who assist in evaluating and ranking their private company peers.

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Summary

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Customers

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Key Investors

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Size of Market

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Market Position

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Industry

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Primary Vertical

Logistics Tech

Employees

500

Mosaic Score

840

Money

760

Momentum

850

Management

760

Market

960

What is a Mosaic Score?

Key Officers

Name Work History Title Status
John Smith Aenean, quam eu, diam dignissim Chief Executive Officer Current
John Smith Aenean, quam eu, diam dignissim Chief Executive Officer Current
John Smith Aenean, quam eu, diam dignissim Chief Executive Officer Current
John Smith Aenean, quam eu, diam dignissim Chief Executive Officer Current

Valuation

Valuation Over Time

chart

Last Round

Sept. 2019, Series B1

Valuation Post-Money

$400.2M

Amount Raised

$2.5M

Total Funds Raised

$75.2M

Implied Valuation

$84M

Funding Rounds

Date Round Amount Valuation Investors
MM/DD/YYYY Growth Equity $1M $2.8B Name goes here
MM/DD/YYYY Growth Equity $1M $2.8B Name goes here
MM/DD/YYYY Growth Equity $1M $2.8B Name goes here
MM/DD/YYYY Growth Equity $1M $2.8B Name goes here

Competitive Landscape

Company Valued Revenue
Coinbase
San Francisco, CA
$2.8B $1.3B
Coinbase
San Francisco, CA
$2.8B $1.3B
Coinbase
San Francisco, CA
$2.8B $1.3B

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