Motive Closes Record Fiscal Year Fueled by AI Innovation and Accuracy

Motive, the AI-powered Integrated Operations Platform, closed a banner fiscal year driven by enterprise customer growth in 2023. This achievement was highlighted by a 60% year-over-year growth in annual recurring revenue (ARR) from enterprise customers and a 160% increase in customers who spent over $1 million with Motive. To accommodate this growing demand from the largest and most complex organizations in the physical economy, Motive more than doubled its Enterprise Sales and Customer Success teams.

"Motive is the preferred partner for many of the world's leading businesses, driven by our commitment to technology innovation and exceptional customer experience," said Shoaib Makani, co-founder, and CEO at Motive. "The Motive Integrated Operations Platform offers our customers unparalleled visibility across their operations by combining critical functions such as driver safety, fleet management, equipment monitoring, and spend management in one unified system. Our growth in 2023 is a testament to the value we deliver and it highlights the need among our customers to leverage technology to increase the safety, productivity, and profitability of their operations."

"Motive has made a real difference in helping us level up how we approach keeping our drivers and those with whom they share the road safe," said Daniel Patterson, Director of Safety at Western Express. "We've prioritized safety for a long time and had made progress with issues like excessive speed, but we found that the technology we were using wasn't evolving with newer challenges like driver distraction and fatigue. Motive's AI helped us better monitor these issues and the safety of the environment around our drivers. Motive is a key partner in coaching our team and keeping them safe on the road."

"Since bringing on Motive, we've seen a 50% improvement in compliance and safety," said Gary Crueger, Chief Operating Officer at Cascade. "We had multiple systems that were managed by as many as six people and seven separate providers that are now consolidated under one platform with Motive. We saw compliance increase and a reduction in the incident activity and severity almost immediately. Motive is a partner because of their responsiveness, engagement and their innovation. To us, that makes a great partner."

In 2023, the company launched over 100 new product updates and 85 partnerships to increase the safety, productivity, and profitability of businesses that power the physical economy. Highlights include:

• The Motive AI Omnicam, the industry's first AI-enabled camera built for side, rear, passenger, and cargo monitoring.
• New AI Dashcam capabilities such as improved collision detection and AI models to detect stop sign violations, driver distraction, unsafe lane changes, camera obstruction, and more.
• The Motive Asset Gateway Mini, a smaller, more versatile version of the Motive Asset Gateway is ideal for powered and non-powered assets and tracking real-time equipment telematics and location.
• Partnerships with Platform Science, Penske, 7-Eleven, Northland Insurance, eMaxx Insurance, RLI Insurance, Canal Insurance, Sentry Insurance, Carrier Transicold, Casey's, Love's Travel Stops, Discount Tire, and Exxon Mobil.

Motive's additional business achievements for 2023 include:

• Increased safety, productivity, and profitability: In 2023, the Motive platform contributed to significant improvements in safety, productivity, and profitability. This resulted in the prevention of over 90,000 accidents, the saving of over 87 million employee hours, and over $200 million in fuel savings.
• Continued customer satisfaction: Motive maintains a >115% net retention and over 95% customer satisfaction (CSAT) across its more than 120,000 customers spanning SMB to Fortune 500.
• Industry-leading safety: The results of a controlled test track study conducted by the Virginia Tech Transportation Institute (VTTI) found Motive's AI Dashcam successfully alerted drivers to unsafe driving behavior 86% of the time, compared to 21% for Samsara and 32% for Lytx.
• Industry recognition: In 2023, Motive was named to the Forbes Cloud 100 list, Deloitte's Fast 500, Heavy Duty Trucking's Top 20 Products, and was named Fleet Management Solution of the Year in the Supply Tech Breakthrough Awards. Motive was also recognized as a leader in fleet management software and service by G2 and TrustRadius as a direct result of Motive's customers' satisfaction.

From addressing labor shortages to boosting visibility and road safety, AI is becoming critically important for managing physical operations. Motive's Physical Economy Outlook 2024 found that the top five areas where leaders see AI bringing the most value include tracking assets and vehicles (43%), more accurate decision-making (40%), expense planning (39%), reducing administrative work (39%), and detecting fraud (38%). For Driver Safety, 73% of leaders agree that roads are safer with AI-enabled cameras and 64% say AI is crucial for preventing accidents and coaching drivers.

Powered by industry-leading AI, Motive is the only platform that enables safety, operations, and finance teams to manage their drivers, workers, vehicles, equipment, and fleet-related spend in a single system. The Motive platform gives customers visibility and control by connecting online and offline operations into a single dashboard and leveraging real-time machine learning to significantly reduce manual workloads by automating and streamlining tasks.

To learn more about the Motive platform, visit https://gomotive.com/products/platform/.

About Motive:

Motive empowers the people who run physical operations with tools to make their work safer, more productive, and more profitable. For the first time ever, safety, operations and finance teams can manage their drivers, vehicles, equipment, and fleet related spend in a single system. Motive serves more than 120,000 customers ? from Fortune 500 enterprises to small businesses ? across a wide range of industries, including transportation and logistics, construction, energy, field service, manufacturing, agriculture, food and beverage, retail, and the public sector. Visit gomotive.com to learn more.