Motive, formerly KeepTruckin, has raised $150 million in additional funding to accelerate its investment in artificial intelligence (AI), expand product offerings, and grow enterprise capabilities.
Motive’s automated platform combines IoT hardware with AI-powered applications to automate vehicle and equipment tracking, driver safety, compliance, maintenance, and spend management across a range of industries, including trucking and logistics.
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In a recent independent study, Motive found that its AI dashcam detected 89% of unsafe driving behavior, helping businesses reduce accidents by up to 22%, according to a company press release.
“We continue to execute on our mission to transform the safety, productivity, and profitability of businesses that power the physical economy,” Shoaib Makani, CEO and co-founder of Motive, said in a statement. “The additional funding allows us to accelerate development of our technology and scale our team to serve our expanding customer base.”
In addition to enhancing its AI capabilities, Motive announced that its Motive Card offering can be integrated with a fleet management platform to help fleets automate their financial and physical operations. Motive stated that it will accelerate its investment in the Motive Card and related spend management tools to help companies save on fuel and other expenses while controlling where and when their drivers and employees can spend.
The additional funding, co-led by Insight Partners and Kleiner Perkins, puts Motive at a $2.85 billion valuation, the company stated.
