Fleet management software provider Motive, formerly called KeepTruckin, has raised a $150M Series F led by Insight and Kleiner Perkins at a valuation of $2.85B. The new funding will be used to fuel Motive’s growth in both the commercial and freight forwarding markets. With over 1,000 customers in over 60 countries, Motive offers a suite of software products that helps manage truck fleets, cargo volumes, routes, freight visibility and more. Insight’s investment in Motive comes on the heels of recent acquisitions including CargoX (a logistics technology company) and SafeRoute (an anti-theft solution). For more information, please visit: https://www.freightwaves.com/news/fleet-management-software-provider-motive-raises-150m-series-f-led-insight-and-kleiner-perkins
Fleet management software provider Motive, formerly called KeepTruckin, raises a $150M Series F led by Insight and Kleiner Perkins at a $2.85B valuation
Motive, formerly known as KeepTruckin, announced today that it has raised $150 million in a Series F round led by Insight and Kleiner Perkins Caufield & Byers. The funding brings the company’s total to $2.85 billion. Motive will use the money to expand its product lineup and continue investing in artificial intelligence and machine learning technology.
CEO Dan Sender said that the company is seeing significant growth in the trucking industry. “We are seeing an increase in demand for our products as fleets adopt automation across all aspects of their operations, including freight management, driverless transportation, and data analysis,” he said.
The round was also joined by existing investors Accel Partners and Index Ventures.
Insights’ Jerry Yang will join Motive’s board of directors
Jerry Yang, co-founder and CEO of Yahoo, will join Motive’s board of directors. Yang joins a distinguished group of industry veterans on Motive’s board, including former CEOs Larry Ellison (Oracle) and John Chambers (Cisco Systems), as well as tech pioneer Vinod Khosla.
Yang has been involved in some of the most transformative businesses in history, starting with his work on Yahoo! Mail while still at Stanford University. He then led Yahoo!’s entry into the Chinese market and its development into one of the world’s largest web companies.
Yang is now focused on developing new products for the mobile age and expanding Yahoo!’s reach beyond America’s borders. With his deep understanding of how to build successful businesses, Yang will be an invaluable addition to Motive’s board as we continue our mission to make freight management easier for truckers and shippers alike.
Kleiner Perkins Caufield & Byers led the round
Kleiner Perkins Caufield & Byers led the round in Motive, a fleet management software provider, with Insight and existing investor Kleiner Perkins AlphaOne also participating. The company said that it is now valued at $.B. Motive was founded in 2006 by three veterans of the technology industry: Co-founder John Zhao, CTO Jay Simons, and Chairman and CEO Steve Jurvetson. The company’s flagship product is KeepTruckin, which manages trucking fleets across North America.
The round was also joined by existing investors Accel Partners, Index Ventures, and RRE Ventures
Motive, formerly called KeepTruckin, has raised a $M Series F led by Insight and Kleiner Perkins at a $.B valuation. This new round brings the total funding for Motive to $.B. The round was also joined by existing investors Accel Partners, Index Ventures, and RRE Ventures.
Since it was founded in 2011, Motive has developed a fleet management software that helps truckers manage their businesses more efficiently. The company has already helped drivers save millions of dollars in fuel costs and time spent on paperwork. With its latest round of funding, Motive is looking to expand its product offerings anddeepen its relationship with truckers around the world.
The company says it now
Motive, a fleet management software provider, has raised a $M Series F led by Insight and Kleiner Perkins at a $.B valuation. Motive offers software that helps truckers, freight forwarders and logistics providers manage their fleets more efficiently. The company says it now has over 1,500 customers including eBay, UPS, FedEX and DHL.
Conclusion
Fleet management software provider Motive, formerly known as KeepTruckin, has raised a $150M Series F round led by Insight and Kleiner Perkins at a $2.85B valuation. The startup is said to be the fastest growing fleet management software company in the US with over 150,000 customers across more than 2,500 organizations.