Motive Takes $1.3B from General Catalyst and Withdraws Its S-1 at $600M ARR

Motive (corroborated by FreightWaves, FinancialContent and Crunchbase News)·high signalXBlueskyLinkedInCopy link

Motive, the AI platform for trucking, construction, energy and field service fleets, raised more than $1.3B in growth financing from General Catalyst and pulled its IPO filing rather than go public. The company cites roughly $600M ARR growing 30% and nearly 100,000 customers, and General Catalyst managing director Pranav Singhvi joins the board. This is the second vertical SaaS company this month to choose private capital over the public market, and the money is earmarked for new Maintenance and Operations Intelligence products rather than for sales headcount alone.