Motive has secured more than $1.3bn in growth financing from General Catalyst’s Customer Value Fund, the company announced on Thursday. Because of the financing, Motive has withdrawn its previously filed S-1 registration statement for an initial public offering.
The San Francisco company describes itself as “the AI platform for physical operations”. Its software helps companies manage workers, vehicles, equipment and fleet-related spending. Pranav Singhvi, a managing director at General Catalyst, has joined its board.
The withdrawn Motive IPO filing
Motive filed the registration statement in December 2025. It planned to list on the New York Stock Exchange under the ticker “MTVE”. J.P. Morgan, Citigroup, Barclays and Jefferies were named as lead book-running managers. At the time, the company had not set the number of shares or a price range.
“With this financing, we’re very well capitalized. We withdrew our previously filed S-1,” co-founder and chief executive Shoaib Makani told FreightWaves. “But we remain very well positioned for the public markets in the future.”
