Funding round
Motive Series C
Motive, which works in fleet management solutions in San Francisco, raised $50M in a Series C round announced on 20 Mar 2018, led by Institutional Venture Partners, at a $500M post-money valuation. 14 firms took part. It is Motive's second venture round on record; the one before was a Series B in May 2017.
$50M
Amount raised
$500M
Post-money valuation
$450M pre-money
14
Investors
1 lead
7.7x
Step-up from the Series B
$65M in May 2017
10%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Motive at $500M after the new money, 7.7 times the $65M of its Series B (May 2017). The $50M bought investors about 10% of the company. It came 10 months after Motive's Series B. It is 3.0% of the $1.67B Motive has raised in the venture rounds on record. Motive raised again 13 months later: a Series D round of $149M in Apr 2019, at $1.25B post-money.
Motive's funding rounds
Motive has 5 venture rounds on record. This one is highlighted.
- Series B 19 May 2017, led by Scale Venture Partners $18M$65M post-money
- Series C this round 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
Institutional Venture Partners led the round with 13 other firms.
Lead investor
- Institutional Venture Partners backs 109 venture-backed companies new investor
Also in the round
- Benchmark new investor
- backs 169 venture-backed companies new investor
- backs 31 venture-backed companies new investor
- backs 79 venture-backed companies new investor
- Index Ventures backs 353 venture-backed companies new investor
- Kleiner Perkins backs 285 venture-backed companies new investor
- Menlo Ventures backs 215 venture-backed companies new investor
- Pelion Venture Partners new investor
- backs 28 venture-backed companies new investor
- backs 96 venture-backed companies new investor
- Sequoia Capital backs 589 venture-backed companies new investor
- Workday Ventures new investor
- GV backs 428 venture-backed companies new investor
Joined the board: Sandy Miller (IVP) and Roseanne Wincek (IVP).
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
198 Series C rounds in Tech Companies within a year either side disclosed an amount; the median was $34M, and this round was 1.5 times the median. The closest in time, other companies' Series C rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 1 Mar 2018 | $100M | not disclosed | not named |
| Tech Companies | 8 Mar 2018 | $60M | not disclosed | Fidelity Management & Research Company and Fidelity Investments |
| Tech Companies | 20 Mar 2018 | $38M | not disclosed | General Catalyst and Breyer Capital |
| Clari Tech Companies | 21 Mar 2018 | $35M | not disclosed | Tenaya Capital |
| Tech Companies | 1 Mar 2018 | $26M | $113M | Triangle Peak Partners |
| Chargebee Tech Companies | 22 Mar 2018 | $18M | not disclosed | Insight Partners |
| Tech Companies | 19 Mar 2018 | $16M | not disclosed | 创世伙伴资本 |
| Tech Companies | 26 Mar 2018 | $7.0M | not disclosed | not named |
Questions
Frequently asked
How much did Motive raise in its Series C round?
Motive raised $50M in its Series C round, announced in Mar 2018.
Who led Motive's Series C round?
Institutional Venture Partners led it, with Benchmark, Canaan, Decibel Partners, Dell Technologies Capital and Index Ventures and 8 more.
What was Motive's valuation at the Series C round?
$500M post-money ($450M pre-money).
How does it compare with other Series C rounds in Tech Companies?
198 Series C rounds in Tech Companies within a year either side disclosed an amount; the median was $34M, and this round was 1.5 times the median.
Did Motive raise again after this round?
Yes: a Series D round in Apr 2019 of $149M at $1.25B post-money.