Motive (formerly KeepTruckin) is a technology company that creates software used by truck companies. Its main product is

Hours of Service Hours of service (HOS) regulations are issued by the Federal Motor Carrier Safety Administration (FMCSA) and govern the working hours of anyone operating a commercial motor vehicle (CMV) in the United States. These regulations apply to truck d ...

monitoring using

GPS tracking A GPS tracking unit, geotracking unit, satellite tracking unit, or simply tracker is a navigation device normally on a vehicle, asset, person or animal that uses satellite navigation to determine its movement and determine its WGS84 UTM ...

and

dashcams A dashboard camera or simply dashcam, also known as car digital video recorder (car DVR), driving recorder, or event data recorder (EDR), is an onboard camera that Loop recording, continuously records the view through a vehicle's front windscre ...

History

Founding

In 2013, Shoaib Makani, with co-founders Ryan Johns and Obaid Khan, founded KeepTruckin to improve the safety and efficiency of businesses. 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.

2022 rebrand

In 2022, KeepTruckin rebranded as Motive.

Present

In 2022, Motive claimed that it serves more than 120,000 businesses.

Funding history

In 2013, the company raised

seed capital Seed money, also known as seed funding or seed capital, is a form of securities offering in which an investor puts capital in a startup company in exchange for an equity stake or convertible note stake in the company. The term ''seed'' suggests ...

in the amount of $2.3 million. In 2015, the company received $8 million in Series A venture funding led by

Index Ventures Index Ventures is a European venture capital firm with headquarters in both San Francisco and London. It invests primarily in tech companies. History Index Ventures has its origins in a Switzerland, Swiss bond (finance), bond-trading firm cal ...

. In 2017, the company raised $18 million in Series B venture funding led by

Scale Venture Partners Scale Venture Partners is an early-stage venture capital firm that invests in Series A and Series B rounds. Scale has invested in over 380 Cloud, SaaS, and infrastructure companies over the past 20 years. Of these investments, 159 have resulted ...

and GV, the venture capital investment arm of

Alphabet Inc Alphabet Inc. is an American multinational technology conglomerate holding company headquartered in Mountain View, California. Alphabet is the world's third-largest technology company by revenue, after Amazon and Apple, the largest techno ...

. In 2018, the company raised $50 million in Series C venture funding led by IVP, GV,

, and

. In 2019, the company received $149 million in Series D venture funding, mostly from Capital. In 2021, the company secured $200 million in Series E venture funding, led by G2VP. In 2022, the company raised $150 million in Series F venture funding co-led by Insight Partners and

Kleiner Perkins Kleiner Perkins, formerly Kleiner Perkins Caufield & Byers (KPCB), is an American venture capital firm which specializes in investing in incubation, early stage and growth companies. Since its founding in 1972, the firm has backed entrepreneur ...

. After funding, Motive reached a $2.85 billion valuation.

References