Motive Raises $150 Million in Series F Funding
San Francisco – June 1, 2022 – Cooley advised Motive, a leading automated operations platform for the physical economy, on its $150 million Series F financing round, bringing the company’s valuation to $2.85 billion. Lawyers Rachel Burns and Rachel Proffitt led the Cooley team advising Motive.
Motive will use this additional capital to scale its investment in three key areas: accelerate its investment in artificial intelligence, expand its product suite into spend management and grow its enterprise capabilities.
“The additional funding allows us to accelerate development of our technology and scale our team to serve our expanding customer base,” Shoaib Makani, CEO and co-founder of Motive, said in a press release.
Founded in 2013 and headquartered in San Francisco, Motive builds technology to improve the safety, productivity and profitability of businesses that power the physical economy. The Motive Automated Operations Platform combines Internet of Things hardware with AI-powered applications to automate vehicle and equipment tracking, driver safety, compliance, maintenance, spend management and more. Motive serves more than 120,000 businesses across a wide range of industries, including trucking and logistics, construction, oil and gas, food and beverage, field service, agriculture, passenger transit and delivery.
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