Google-Backed Fleet Tracking Firm Motive Files Publicly for IPO

Motive Technologies Inc. filed publicly for an initial public offering, with the artificial intelligence-enabled fleet management software firm disclosing both growing revenue and net losses.

The company, which counts Alphabet Inc.’s Google Ventures and Kleiner Perkins among its backers, recorded a net loss of $138.5 million on revenue of $327.3 million in the nine months ended Sept. 30, according to a filing Tuesday with the US Securities and Exchange Commission. That compares with a net loss of $113.9 million on revenue of $268.9 million in the same period last year.