Motive raises $1.3 billion from General Catalyst

Motive announced Thursday it secured more than $1. 3 billion in growth financing from General Catalyst and withdrew its previously filed S-1. The San Francisco-based company reported its annual recurring revenue crossed $600 million, the company’s strongest quarter. ARR growth accelerated to 30% year over year. ARR from customers spending more than $100,000 grew nearly 60% year over year.