Fleet management software provider Motive Technologies files for a $100 million IPO
IPO Overview
Motive Technologies, which develops and provides fleet management software and equipment, filed on Tuesday with the SEC to raise up to $100 million in an initial public offering.
Motive Technologies provides an AI-powered Integrated Operations Platform that unifies Driver Safety, Fleet Management, Equipment Monitoring, Spend Management, Workforce Management, and AI Vision to manage workers, vehicles, equipment, and spend in one system, underpinned by a Physical Operations Graph fed by data from more than 1 million vehicles and assets. As of September 30, 2025, it served nearly 100,000 customers across construction, oil and gas, trucking and logistics, manufacturing, agriculture, and the public sector.
The San Francisco, CA-based company was founded in 2013 and booked $429 million in revenue for the 12 months ended September 30, 2025. It plans to list on the NYSE under the symbol MTVE. Motive Technologies （formerly known as KeepTruckin） filed confidentially on September 2, 2025. J.P. Morgan, Citi, Barclays, Jefferies, RBC Capital Markets, Citizens JMP, KeyBanc Capital Markets, Societe Generale, and Nomura Securities are the joint bookrunners on the deal. No pricing terms were disclosed.
Company Overview
Our mission is to empower the people who run physical operations with tools to make their work safer, more productive, and more profitable. Motive is at the forefront of the transformation of the physical economy. For the first time ever, organizations that power the physical economy can connect and automate their operations end to end. Our Integrated Operations Platform enables these organizations to manage their workers, vehicles, equipment, and spend in one system. Powered by artificial intelligence （“AI”） purpose-built for physical operations, our platform helps customers ensure the safety of their workers, connect their vehicles and equipment, and automate mission critical workflows. The result is safer, more productive, and more profitable operations for the organizations that adopt our platform. In 2024, the physical economy generated over $50 trillion in annual economic output and comprised approximately 50% of global gross domestic product （“GDP”），1 spanning industries and verticals such as construction, oil and gas, trucking and logistics, manufacturing, agriculture, and the public sector, among others. Despite its scale, the physical economy has been underserved from a technology and innovation perspective relative to the knowledge economy.