Insight, Kleiner Perkins Back Motive at $2.85 Billion Valuation

Motive, the technology company formerly known as KeepTruckin, said it reached a $2.85 billion valuation after raising $150 million in equity funding.

The transaction, co-led by Insight Partners and Kleiner Perkins, represents a step up from the $2.3 billion mark the maker of fleet-management software secured last June.

“Our business is really thriving and given there’s uncertainty in the market, we wanted to make sure we’re capitalized to see through any economic headwinds and can continue to invest,” Motive co-founder and Chief Executive Officer Shoaib Makanisaid in an interview. The company plans to invest in its artificial-intelligence capabilities, expand ...