Motive has withdrawn its IPO filing after securing more than $1.3 billion in growth financing from General Catalyst’s Customer Value Fund. The fleet technology company had filed an S-1 registration statement in December 2025 for a planned NYSE listing under the ticker MTVE.
Motive CEO Shoaib Makani said the new funding leaves the company well capitalized and able to continue operating privately. He added that Motive remains positioned for the public markets in the future. The company did not disclose a valuation or terms for the financing.
Motive said it will use the capital to advance its AI platform, scale its go-to-market teams and expand among large organizations. Nearly 100,000 customers use its platform across transportation, logistics, construction, manufacturing, retail and other industries.
