AI fleet technology firm Motive files for IPO
Platform serves more than 100,000 fleet customers
Motive Technologies, an AI platform for physical operations, has filed a registration statement with the U.S. SEC for a proposed initial public offering of Class A common stock.
The San Francisco-based company plans to list shares on the New York Stock Exchange under the ticker symbol MTVE. The number of shares to be offered and the expected price range have not been determined, according to a Dec. 23 release. The offering remains subject to market conditions and regulatory approval, and there is no guarantee it will be completed.
J.P. Morgan, Citigroup, Barclays and Jefferies are serving as lead book-running managers, according to the release. RBC Capital Markets, Citizens Capital Markets, KeyBanc Capital Markets, Societe Generale and Wolfe | Nomura Alliance are acting as joint book-running managers.
Motive provides software that enables companies to manage workers, vehicles, equipment and fleet-related spending through a single platform. The company serves nearly 100,000 customers across industries including trucking, logistics, construction, energy, manufacturing, agriculture and public sector operations, with customers ranging from small businesses to Fortune 500 companies.
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