Motive secures $1.3B from General Catalyst as AI platform for physical operations scales — TFN
Motive secures $1.3B from General Catalyst as AI platform for physical operations scales — TFN
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Motive secures $1.3B from General Catalyst as AI platform
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Motive secures $1.3B from General Catalyst as AI platform for physical operations scales
Abhinaya Prabhu
September 11, 2026
3 minute read
Image credits: Shoaib Makani/LinkedIn
Motive has secured more than $1.3 billion in growth financing from General Catalyst’s Customer Value Fund and withdrawn its IPO filing.
The AI platform for physical operations crossed $600 million in annual recurring revenue, growing 30% year over year.
General Catalyst managing director Pranav Singhvi joins Motive’s board as competition in AI-driven fleet software intensifies.
spent months preparing to list on the New York Stock Exchange under the ticker “MTVE,” with JPMorgan, Citigroup, Barclays and Jefferies lined up as bookrunners. It has now shelved that plan entirely.
The company has secured more than $1.3 billion in growth financing from General Catalyst’s Customer Value Fund and withdrawn its S-1 registration statement.
The round follows a $150 million round led by Kleiner Perkins in July 2025 and brings Motive’s total funding to more than $700 million. Motive did not disclose a valuation; its last known figure was $2.85 billion in 2022.
The new capital will fund AI product development, including a forthcoming Maintenance and Operations Intelligence tool, and expand sales, support and service teams. It’s the same fund that put $1 billion into Grammarly and backs
General Catalyst’s broader push toward growth-stage, revenue-predictable companies
.
“We’re building the intelligence layer for the physical economy. For our customers, that means preventing collisions, avoiding downtime, and eliminating manual work,” said
Shoaib Makani
, founder of Motive.
An AI platform for physical operations
Makani founded the San Francisco company in 2013 as KeepTruckin, selling electronic logging devices to trucking companies, after watching truck drivers