Key Points
- Motive filed for an IPO on the NYSE under the symbol MTVE.
- The company joins a 2026 IPO wave alongside firms like OpenAI and SpaceX.
- Motive’s AI dashcams have reportedly prevented 170,000 crashes to date. Revenue grew 23% last quarter, though net losses also increased.
- The firm is currently involved in patent litigation with its rival, Samsara.
Motive, a San Francisco company that builds software and hardware to help businesses manage truck fleets, filed to go public on Tuesday. The company plans to list on the New York Stock Exchange under the ticker MTVE. This filing makes Motive one of the first major tech companies to officially initiate the 2026 IPO process. Next year could be a busy one for the stock market, with other giants like SpaceX and OpenAI reportedly considering their own debuts.
Founded in 2013 as KeepTruckin, the company has spent over a decade modernizing the shipping industry. Today, Motive serves nearly 100,000 customers. Their most famous product is an AI-powered dashcam that monitors drivers for signs of fatigue or dangerous habits.
CEO Shoaib Makani recently told investors that their technology has already prevented 170,000 collisions and saved roughly 1,500 lives. While the company sells the cameras, it generates most of its revenue from monthly software subscriptions.
Financially, Motive is growing rapidly but still spending heavily to expand. In the third quarter of this year, the company reported revenue of $115.8 million, a 23% increase from the prior year. However, their losses also grew during that time. They reported a net loss of $62.7 million for the quarter, up from about $41 million a year ago.
To keep their technology sharp, Motive employs 4,500 people. This includes a dedicated team of 400 workers who label data to train the company’s artificial intelligence models.
Some of the biggest names in venture capital, including Alphabet’s GV and Kleiner Perkins, have backed Motive. However, the path ahead isn’t entirely clear. Motive is currently litigating with its main competitor, Samsara, over patent infringement. Samsara went public in 2021 and is now valued at $22 billion.
Motive hopes that listing on the public market will provide the resources it needs to remain competitive and keep its safety tools on the road.
