Today we announced that Motive has raised an additional $18 million in Series B funding, led by Scale Venture Partners and with our existing investors, GV and Index Ventures, participating. This new capital is a testament to the strength of our team, the quality of the product we have built, and the value we have delivered to our customers.
1 out of every 10 vehicles on the road is engaged in commercial activity, but despite the scale of the market, the tools available to commercial vehicle drivers and fleet managers are downright bad. Motive is on a mission to change that.
We started in 2013 with a free app for drivers to track their HOS logs on their Android and iPhone devices. Since then we have built a modern and easy-to-use fleet management and telematics platform that includes the #1 rated Electronic Logging Device, GPS tracking, IFTA reporting, vehicle diagnostics, driver performance monitoring, vehicle utilization tracking, and a whole lot more.
With the ELD mandate fast approaching, Motive is poised for incredibly rapid growth. But that is just the start of the journey for us. We have an ambitious product roadmap to make life easier for drivers and fleet managers alike. This additional funding will allow us to hire more engineers, scale our sales team, and expand our support team so we can continue to deliver industry-leading service to our customers.
To our users who have supported us in these past 4 years: thank you. We would not be able to do this without you. You keep trucking, and we’ll keep building the tools that make your jobs easier.