Vehicle Management Startup Motive Hires CFO, Aims for 2025 IPO

Fleet management startup Motive Technologies Inc., most recently valued at $2.85 billion, has hired a chief financial officer as the company targets an initial public offering next year.

The new CFO is Chirag Shah, who previously held the role at software company Kong Inc. and Cornerstone OnDemand Inc., Motive plans to announce Wednesday. The company aims to go public by the end of 2025 pending market conditions, according to a person familiar with the matter. The company declined to comment on its IPO timing.

In an interview with Bloomberg, Shah said that he was attracted to Motive’s ...