Funding round
Motive Series B
Motive, which works in fleet management solutions in San Francisco, raised $18M in a Series B round announced on 19 May 2017, led by Scale Venture Partners, at a $65M post-money valuation. 3 firms took part, 2 of them already investors. It is Motive's first venture round on record.
$18M
Amount raised
$65M
Post-money valuation
3
Investors
1 lead
28%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Motive at $65M after the new money. The $18M bought investors about 28% of the company. It is Motive's first venture round on record, 4 years after it was founded in 2013. It is 1.1% of the $1.67B Motive has raised in the venture rounds on record. Motive raised again 10 months later: a Series C round of $50M in Mar 2018, at $500M post-money.
Motive's funding rounds
Motive has 5 venture rounds on record. This one is highlighted.
- Series B this round 19 May 2017, led by Scale Venture Partners $18M$65M post-money
- Series C 20 Mar 2018, led by Institutional Venture Partners $50M$500M post-money
- Series D 23 Apr 2019, led by Greenoaks Capital $149M$1.25B post-money
- Series F 25 May 2022, led by Insight Partners and Kleiner Perkins $150M$2.85B post-money
- Growth 10 Sep 2026, led by General Catalyst $1.30B
Investors
Who put money in
Scale Venture Partners led the round with 2 other firms. GV and Index Ventures had backed Motive before.
Lead investor
- backs 96 venture-backed companies new investor
Also in the round
- GV backs 428 venture-backed companies existing investor
- Index Ventures backs 353 venture-backed companies existing investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
359 Series B rounds in Tech Companies within a year either side disclosed an amount; the median was $16M, and this round was 1.2 times the median. The closest in time, other companies' Series B rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 24 May 2017 | $30M | not disclosed | Accel |
| Tech Companies | 4 May 2017 | $27M | not disclosed | Menlo Ventures and New Enterprise Associates |
| Motive Tech Companies | 23 May 2017 | $18M | not disclosed | Scale Venture Partners |
| Tech Companies | 30 May 2017 | $17M | not disclosed | Korelya Capital and Partech |
| Tech Companies | 1 May 2017 | $17M | not disclosed | Digital Transformation Capital Partners |
| Tech Companies | 1 May 2017 | $17M | not disclosed | Qiming Venture Partners |
| Tech Companies | 1 May 2017 | $15M | not disclosed | Energy Impact Partners |
| Tech Companies | 1 May 2017 | $15M | not disclosed | not named |
Sources
Where this comes from
Reported by 2 sources. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did Motive raise in its Series B round?
Motive raised $18M in its Series B round, announced in May 2017.
Who led Motive's Series B round?
Scale Venture Partners led it, with GV and Index Ventures.
What was Motive's valuation at the Series B round?
$65M post-money.
How does it compare with other Series B rounds in Tech Companies?
359 Series B rounds in Tech Companies within a year either side disclosed an amount; the median was $16M, and this round was 1.2 times the median.
Did Motive raise again after this round?
Yes: a Series C round in Mar 2018 of $50M at $500M post-money.