Fleet management software company Motive has filed paperwork for an initial public offering on the New York Stock Exchange.
The company plans to trade under the ticker symbol “MTVE.”
The filing places Motive among a growing list of technology firms preparing for potential public debuts in 2026.
Several high-profile companies, including Anthropic, OpenAI and SpaceX, have also been linked to possible listings next year.
Financial Performance Highlights Growth and Losses
Motive remains smaller than many of its high-profile peers but has shown steady revenue growth.
The company reported a net loss of $62.7 million on revenue of $115.8 million in the third quarter.
That loss widened from $41.3 million during the same period in 2024.
Revenue increased by approximately 23% year over year, reflecting continued expansion of its customer base.
At the end of September, Motive reported having nearly 100,000 clients.
Company Origins and Leadership
Motive was founded in 2013 by Ryan Johns, Obaid Khan and Shoaib Makani.
The company originally operated under the name Keep Truckin.
Makani, who serves as chief executive officer, is the brother-in-law of co-founder Khan.
The firm rebranded as Motive in 2022 as it broadened its product offering beyond electronic logging devices.
Investor Backing and Product Focus
Motive has attracted backing from several major venture capital firms.
Its investors include GV, Base10 Partners, Greenoaks, Index Ventures, Kleiner Perkins and Scale Venture Partners.
The company’s core offerings focus on software subscriptions for fleet management.
Motive also generates revenue from hardware sales and professional services.
One of its most prominent products is an AI-powered dashcam designed to detect unsafe driving behavior.
Makani stated in a letter to investors that the technology “has prevented 170,000 collisions and saved 1,500 lives on our roads.”
Workforce and Legal Challenges
As of September 30, Motive employed 4,508 people worldwide.
The company maintains a workforce of approximately 400 full-time data annotators.
These employees label data used to improve the accuracy of Motive’s artificial intelligence models.
Motive is currently involved in patent infringement litigation with competitor Samsara.
Samsara went public in 2021 and now carries a market capitalization of around $22 billion.
The outcome of the legal dispute could have implications for Motive as it approaches the public markets.