<p class="wp-block-paragraph"><strong>SAN FRANCISCO </strong>– <a href="https://gomotive.com/">Motive</a>, an AI platform for physical operations, has secured more than $1.3 billion in growth financing from General Catalyst’s Customer Value Fund (CVF). Motive plans to 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.</p>
<p>With this new funding, Motive has withdrawn its previously filed S-1 registration statement and said it may pursue a public listing at a future date.</p>
<p class="wp-block-paragraph">As part of this financing, Pranav Singhvi, Managing Director at General Catalyst, has joined Motive’s <a href="https://gomotive.com/company/leadership/">Board of Directors</a>.</p>
<p class="wp-block-paragraph">Motive said the financing follows its strongest quarter in history, with acceleration in growth and deepening enterprise adoption:</p>
<ul class="wp-block-list">
<li>Annual recurring revenue (ARR) crossed $600 million.</li>
<li>ARR growth rate accelerated to 30% year-over-year.</li>
<li>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%.</li>
</ul>
<p class="wp-block-paragraph">“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.”</p>
<p class="wp-block-paragraph">“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.”</p>
<p class="wp-block-paragraph">“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.”</p>
<p class="wp-block-paragraph">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 <a href="https://gomotive.com/products/platform/">platform</a>. The company will expand its platform with new products like <a href="https://gomotive.com/products/maintenance/">Maintenance</a>, <a href="https://gomotive.com/products/operations-intelligence/">Operations Intelligence</a>, and new <a href="https://gomotive.com/blog/announced-at-vision-26-motive-ai-innovation/">AI capabilities</a> that help customers improve safety, increase productivity, and solve their most complex operational challenges.</p>
<p class="wp-block-paragraph">The capital will also help scale go-to-market teams across segments and geographies. Earlier this year, Motive named enterprise veteran <a href="https://gomotive.com/motive-appoints-thomas-hansen-as-president-go-to-market-to-accelerate-next-phase-of-ai-leadership-and-global-scale/">Thomas Hansen</a> 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.</p>
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