Motive files for IPO
Motive Technologies said that it has filed with the U.S. Securities and Exchange Commission for an initial public offering of its Class A common stock on the New York Stock Exchange.
The number of shares of “MTVE” to be offered, and the price range for the proposed offering, have not yet been determined.
The company offers a wide range of fleet management and driver safety technologies. In October, Motive unveiled its new AI Answers tool, dubbing it the first conversational AI tool for physical operations.
Motive was founded in 2013 as KeepTruckin and renamed in 2022 to reflect its growing product offerings. It has nearly 100,000 customers across transportation, logistics, construction, energy, and manufacturing.
Among the firms backing Motive is Google Ventures, Alphabet’s venture capital arm. J.P. Morgan, Citigroup, Barclays, and Jefferies are acting as lead managers for the proposed offering.
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