Alphabet-backed fleet management software company Motive files for IPO
Direxion sign at the New York Stock Exchange (NYSE) in New York, USA, on Monday, December 22, 2025. The holiday-shortened week started with gains in stocks amid a broad rally that continued bullish momentum on Wall Street.
Michael Nagle | Bloomberg | Getty Images
Motive, a company with software to manage corporate trucks and drivers, announced Tuesday filed For an initial public offering on the New York Stock Exchange under the symbol “MTVE”.
The paperwork names Motive among fast-growing tech companies looking to go public in 2026. Anthropic, OpenAI, and SpaceX are reportedly considering making their shares available for trading next year.
Motive, on the other hand, is smaller and reported a net loss of $62.7 million in the third quarter on revenue of $115.8 million. While losses widened from $41.3 million in the same quarter in 2024, revenue rose nearly 23% from last year. The company had almost 100,000 customers as of the end of September.
Ryan Johns, Obaid Khan and Shoaib Makani founded Motive in 2013 under the name Keep Truckin. CEO Makani is Khan’s brother-in-law.
Investors include: alphabet GV, Base10 Partners, Greenoaks, Index Ventures, Kleiner Perkins and Scale Venture Partners.
Motive’s AI Dashcam device for detecting unsafe driving has “prevented 170,000 crashes on our roads and saved 1,500 lives,” Makani wrote in a letter to investors. Although Motive sells replacement hardware and professional services, most of its revenue comes from subscriptions.
San Francisco company changed his name The company, which joined Motive in 2022, employed 4,508 people as of September 30. Motive employs 400 full-time data annotators who apply labels to improve AI models.
Motive has an ongoing patent infringement lawsuit with its rival SamsaraIt went public in 2021 and today has a market value of $22 billion.
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