Motive took $1.3B from General Catalyst and withdrew its S-1 at $600M ARR.

Motive, the AI platform for trucking, construction, energy and field service fleets, raised more than $1.3B in growth financing and pulled its IPO filing instead of going public. It cites roughly $600M ARR growing 30% and nearly 100,000 customers, with General Catalyst MD Pranav Singhvi joining the board. The money is earmarked for new Maintenance and Operations Intelligence products rather than sales headcount, which is the tell: they think the product surface is still expanding faster than the market can be sold.