Samsara (company)

Last updated
Samsara Inc.
Company type Public
NYSE:  IOT
Industry Internet of things
Founded2015;9 years ago (2015)
Founders
Headquarters
San Francisco, California
,
United States
Key people
  • Sanjit Biswas
  • (Chairman & CEO)
  • John Bicket
  • (CTO)
RevenueIncrease2.svg US$653 million (2023)
Increase2.svgUS$−259 million (2023)
Increase2.svgUS$−247 million (2023)
Total assets Increase2.svgUS$1.62 billion (2023)
Total equity Decrease2.svgUS$938 million (2023)
Number of employees
2,266 (2023)
Website samsara.com
Footnotes /references
Financials as of January 28,2023 [1]

Samsara Inc. is an American IoT company headquartered in San Francisco, California that provides software and insights for physical operations. The company has over 20,000 customers across North America and Europe. [2] [3] Samsara developed a connected operations cloud platform that provides insights to physical operations organizations in the transportation, construction, energy, utilities, public sector and retail industries, and supports the safety and efficiency of those operations. [4] The company’s initial public offering raised $805 million in December 2021. [5]

Contents

History

Co-founders Sanjit Biswas and John Bicket met while graduate students at the Massachusetts Institute of Technology. [6] The pair founded Samsara in 2015 after selling their previous company, Meraki, to Cisco Systems in 2012. [6] [7] Samsara was initially created to provide sensor technology for industrial operations, and Andreessen Horowitz became a Series A round early investor. [8] [9]

Samsara achieved unicorn status in March 2018 after a funding round led to a valuation of over $1B. [10] [11] Another funding round later that year rose the valuation to $3.6B backed by Andreessen Horowitz and General Catalyst. [12] A Series F funding round saw Samsara's valuation rise to $6.3B with Tiger Global Management and Dragoneer Investment Group joining for the first time. [13]

Samsara was impacted during the COVID-19 pandemic which resulted in a reduction to their staff. [14] [15]

In February 2019, Samsara introduced new AI dash cameras that use computer vision to interpret road scenes and driving behavior. [16] In February 2021, the startup announced that it had surpassed $300 million in run-rate subscription revenue, serving over 20,000 customers and adding seven new patents. [2] [17] Samsara’s partners include vehicle manufacturers Ford Motor Company, General Motors, Navistar, EVgo, Stellantis Free2move and transport refrigeration company Thermo King. In September 2022, the company announced its 200th partner integration. [18] Samsara also has a slate of public sector customers, including the City of New Orleans, [19] the City of Boston, [20] the City of Houston, and the State of New Jersey. [21]

In December 2021, Samsara publicly listed on the New York Stock Exchange under the ticker symbol “IOT”. [22] Samsara sold 35 million shares in its initial public offering to raise $805 million at a valuation of $11.5 billion. [5] In December 2023, Samsara surpassed $1 billion in Annual Recurring Revenue (ARR). [23]

Samsara was named one of Glassdoor’s Best Places to Work for culture and values in 2023. [24]

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References

  1. ↑ "Samsara Inc. FY2023 Annual Report (Form 10-K)". SEC.gov. U.S. Securities and Exchange Commission. 22 March 2023.
  2. 1 2 Noi Mahoney (February 11, 2021). "Samsara hits milestone with $300M run rate". Freight Waves. Retrieved December 10, 2021.
  3. ↑ Brian Rinker (May 20, 2021). "S.F. unicorn raises $400M at lower valuation, cuts 300 employees". San Francisco. Retrieved December 10, 2021.
  4. ↑ Yuliya Chernova (September 9, 2021). "Samsara Raising Money at $6 Billion Valuation". Wall Street Journal. Retrieved December 10, 2021.
  5. 1 2 Woelfel, Joe (15 December 2021). "Samsara IPO Is Priced at $23 a Share, Valuation at $11.5 Billion" . Retrieved 21 March 2024.
  6. 1 2 McFarland, Matt (May 19, 2015). "Meet Samsara, a start-up planning to disrupt the sensor business". The Washington Post . Washington, D.C. Retrieved September 16, 2021.
  7. ↑ Constine, Josh (November 18, 2012). "Cisco Acquires Enterprise Wi-Fi Startup Meraki For $1.2 Billion In Cash". TechCrunch . Retrieved September 16, 2021.
  8. ↑ Lehtonen, Scott (8 September 2023). "IPO Stock Of The Week: Samsara Breaks Out With RS Line At New Highs". Investor's Business Daily. Retrieved 27 March 2024.
  9. ↑ Hall, Gina (May 19, 2015). "Wireless sensor startup Samsara raised Series A from Andreessen Horowitz". Silicon Valley Business Journal . Retrieved September 16, 2021.
  10. ↑ "The Complete List Of Unicorn Companies". CB Insights . Retrieved September 16, 2021.
  11. ↑ "Prime Unicorn Index - Samsara, Inc" (PDF). vcexperts.com. Retrieved September 16, 2021.
  12. ↑ "Exclusive: Enterprise Sensor Startup Samsara to Raise $100 Million at $3.6 Billion Valuation". Cheddar . December 28, 2018. Retrieved September 16, 2021.
  13. ↑ Brier, Elisabeth (September 10, 2019). "Samsara Founders Sanjit Biswas And John Bicket Are Now Billionaires Thanks To The Industrial Internet-of-Things Startup's Latest Funding Round". Forbes . Retrieved September 16, 2021.
  14. ↑ "What Shipping & Logistics Volatility Means For Samsara And Its Peers" . CB Insights . July 16, 2020. Retrieved September 16, 2021.
  15. ↑ Baker, Linda (May 20, 2020). "Samsara lays off 18% of workforce". freightwaves.com. Retrieved September 17, 2021.
  16. ↑ Huff, Aaron (11 February 2019). "Samsara has added an AI Dash Camera to their fleet platform". Commercial Carrier Journal. Retrieved 14 May 2024.
  17. ↑ Scooter Doll (July 13, 2021). "Samsara and EVgo announce partnership to speed up commercial fleet electrification". Electrek. Retrieved December 10, 2021.
  18. ↑ Lawton, George (13 September 2022). "How Samsara is driving digital transformation in the supply chain". VentureBeat. Retrieved 21 March 2024.
  19. ↑ Quinlan, Keely (1 December 2023). "New Orleans moves vehicle fleet operations into the cloud". StateScoop. Retrieved 27 March 2024.
  20. ↑ Descant, Skip (26 May 2020). "Fleet Management Tech Tells Boston Exactly Where Each Snowplow Has Been". GovTech. Retrieved 27 March 2024.
  21. ↑ Whitmore, Charles (7 November 2023). "Samsara adds the City of Houston to its list of 2023 public sector partnerships". ERP Today. Retrieved 27 March 2024.
  22. ↑ Yasmin, Mehnaz; Wang, Echo (15 December 2021). "Andreessen Horowitz-backed Samsara valued at $12.5 bln in market debut" . Retrieved 21 March 2024.
  23. ↑ du Preez, Derek (1 December 2023). "Samsara hits $1 billion ARR milestone and raises full-year guidance". diginomica.com. Retrieved 27 March 2024.
  24. ↑ Haranas, Mark (16 September 2023). "Glassdoor: Top 10 Tech Companies In 2023 For Culture, Values | CRN". www.crn.com. Retrieved 27 March 2024.
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