The company was last valued at $2.3B in June 2021. Here are the top-line bullets you need to know.
Motive, a provider of truck fleet management technology, has raised $150M in a Series F that drew participation from Insight Partners and Kleiner Perkins Caufield & Byers.
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How’s the company performing?
- California-based Motive offers a suite of products designed to support vehicle and equipment monitoring, driver safety, compliance, maintenance, and expenditure management, among other logistics functions.
- The company is in the process of expanding its machine learning and computer vision engineering teams to help firms better automate operational workflows.
- Motive has over 120K enterprise customers, including Select Energy, Strike USA, and Rosendin.
- It claims that its fleet safety solution reduces accidents by 22% and safety incidents by 56%.
Source: Motive
Why does the market matter?
- The global fleet management market is expected to reach a value of $33.9B by 2026, growing at a CAGR of 10.5%, according to Markets and Markets.
- Fleet owners have increasingly turned to solutions designed to enhance operational efficiency, particularly amid pandemic-fueled supply chain disruption.
