Motive Elevates Chirag Shah to CFO Amid Record Growth Surge

Motive Welcomes Chirag Shah as New CFO

Motive, a leader in AI-powered integrated operations, has announced the appointment of Chirag Shah as its new Chief Financial Officer (CFO). With a wealth of experience exceeding two decades in strategic finance and operational management, Chirag is set to enhance Motive's financial strategy, positioning the company for even greater growth.

Record Business Growth Driven by Demand

This announcement comes on the heels of remarkable business growth for Motive, fueled primarily by soaring enterprise demand for its innovative safety and operational solutions driven by artificial intelligence. The enterprise segment has demonstrated a striking 164% increase in annual recurring revenue compared to the previous year, alongside net revenue retention exceeding a notable 127%.

Expanding Customer Base

Several new clients have recently partnered with Motive, significantly contributing to this surge. Among the notable enterprises are FedEx Freight, CRH Canada, CoolSys, Inframark, Mavis Tires & Brakes, and Lumen, all of which represent the growing trust in Motive’s cutting-edge solutions.

Leadership Insight

Shoaib Makani, Motive's co-founder and CEO, expressed great enthusiasm regarding Chirag's onboarding, emphasizing the importance of continued operational scaling to meet increasing demand for various solutions including Driver Safety, Fleet Management, Equipment Monitoring, and Spend Management. He believes that Chirag's extensive experience in leading high-growth firms will be invaluable as Motive navigates its next phase of expansive growth, firmly dedicated to empowering workers in physical operations.

Transformative Vision

Chirag Shah himself acknowledges Motive's unique capability to effect transformative changes in the businesses that underpin the global economy. He lauded the company's leadership in artificial intelligence, commitment to unmatched customer service, and the unique ability to integrate safety, operations, and finance teams using a cohesive platform. "I’m excited to collaborate with Shoaib and the broader team to broaden these solutions across diverse industries on a global scale," Chirag stated.

Chirag's Impressive Background

Before joining Motive, Chirag held the CFO position at Kong, where he significantly contributed to tripling its annual recurring revenue during his tenure and enhancing operational efficiencies. Additionally, he played a pivotal role in a successful fundraising campaign that increased the company's valuation. Prior to Kong, Chirag served as CFO for Cornerstone OnDemand, driving the company’s annual recurring revenue from under $30 million to almost $900 million. He was instrumental during the company’s IPO in March 2011 and later during its acquisition by Clearlake Capital for an impressive $5.2 billion in October 2021. Chirag's foundation in finance began as an investment banker where he specialized in mergers, acquisitions, and restructurings.

Organizational Developments

In addition to Chirag’s appointment, Motive has also promoted Patrick Richards to the role of Chief Information Officer (CIO). Patrick is tasked with directing Motive's Business Technology strategy, which encompasses IT, enterprise systems, business intelligence, and information security. His tenure at Motive has been marked by significant contributions to the organization’s IPO readiness efforts, greatly improving operational efficiencies across enterprise systems. Before his time with Motive, Patrick held the role of Director of Product Management at Tableau Software, where he led major customer lifecycle and digital transformation initiatives. Earlier, he also played a vital role in managing Amazon’s Partner Integrations team, collaborating with prominent media giants such as Disney and the NFL.

Exploring the Motive Platform

Motive is devoted to empowering individuals who manage physical operations with advanced tools to boost safety, streamline productivity, and improve profitability. The platform effectively unites safety, operational, and financial functionalities, allowing for the efficient management of personnel, vehicles, equipment, and fleet expenditures within a single system. Today, Motive proudly serves over 120,000 clients ranging from small enterprises to Fortune 500 companies, fundamentally transforming sectors like transportation, construction, energy, and retail.

Learn more about the innovative offerings from Motive and how they are aiming to enhance operational standards across various industries.

Frequently Asked Questions

What role has Chirag Shah taken on at Motive?

Chirag Shah has been appointed as the Chief Financial Officer (CFO) at Motive, impacting the company’s financial strategies.

What recent growth has Motive experienced?

Motive has achieved record growth, with a 164% increase in annual recurring revenue in the enterprise segment.

Who are some new customers of Motive?

New clients include FedEx Freight, CRH Canada, and Mavis Tires & Brakes among others.

What prior experience does Chirag Shah bring to Motive?

Prior to Motive, Chirag was CFO at Kong and had significant roles at Cornerstone OnDemand, contributing to substantial revenue growth.

What are Motive's core solutions?

Motive offers solutions in Driver Safety, Fleet Management, Equipment Monitoring, and Spend Management, enhanced by AI technology.

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