Motive, an AI-powered integrated operations platform for the physical economy, has secured $150 million in funding led by Kleiner Perkins, with participation from AllianceBernstein and other investors. This funding will help Motive expand its AI capabilities and grow internationally.
Ilya Fushman, a partner at Kleiner Perkins, has rejoined Motive’s Board of Directors, having previously led its Series A funding in 2015 and Series F in 2022.
The funding will enhance Motive’s AI roadmap, automating operations like driver safety, which can reduce collisions by up to 80%. Motive serves nearly 100,000 customers and 1.3 million drivers across various industries, including major clients like FedEx Freight and Cintas. Since 2024, it has doubled its annual recurring revenue from customers spending over $100,000, with a net revenue retention rate exceeding 130%.
To meet global demand, Motive is expanding operations and investing in research, customer support, and tailored services, particularly in North America, Mexico, and Canada. It plans to launch in the UK in early August and expand R&D in India with a hiring initiative set for early 2025.
KEY QUOTES:
“Motive has solidified itself as a clear leader in bringing advanced AI to the physical economy. The company’s growth trajectory is a testament to the value it delivers to customers. We are proud to continue our partnership as Motive enters its next phase of global scale.”
Ilya Fushman, Partner at Kleiner Perkins
“We continue to execute against a bold mission to empower the people who run physical operations with AI to make their work safer and more productive. This funding allows us to extend our AI leadership, enter new markets, and expand our teams to support the world’s largest and most complex operations.”
Shoaib Makani, CEO and Co-founder of Motive
