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Samsara (company)

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For other uses, see samsara (disambiguation).
Samsara Inc.
Company typePublic
NYSE: IOT
IndustryInternet of things
Founded2015; 9 years ago (2015)
Founders
Headquarters
San Francisco, California
,
United States
Key people
  • Sanjit Biswas
  • (Chairman & CEO)
  • John Bicket
  • (CTO)
RevenueIncrease US$937 million (2024)
Increase US$−249 million (2024)
Increase US$−286 million (2024)
Total assetsIncrease US$1.73 billion (2024)
Total equityDecrease US$915 million (2024)
Number of employees
2,895 (2024)
Websitesamsara.com
Footnotes / references
Financials as of January 31, 2024[1][2]

Samsara Inc. is an American IoT company headquartered in San Francisco, California that provides software and insights for physical operations. The company has customers across North America and Europe.[3][4] 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.[5]

Samsara is publicly listed on the New York Stock Exchange under the ticker symbol “IOT”.[6]

History

Co-founders Sanjit Biswas and John Bicket met while graduate students at the Massachusetts Institute of Technology.[7] The pair founded Samsara in 2015 after selling their previous company, Meraki, to Cisco Systems in 2012.[7][8] Samsara was initially created to provide sensor technology for industrial operations, and Andreessen Horowitz became a Series A round early investor.[9][10]

Samsara achieved unicorn status in March 2018 after a funding round led to a valuation of over $1B.[11][12] Another funding round later that year rose the valuation to $3.6B backed by Andreessen Horowitz and General Catalyst.[13] 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.[14]

Samsara was impacted during the COVID-19 pandemic which resulted in a reduction to their staff.[15][16]

In February 2019, Samsara introduced new AI dash cameras that use computer vision to interpret road scenes and driving behavior.[17] 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.[3][18]

In December 2021, Samsara publicly listed on the New York Stock Exchange under the ticker symbol “IOT” and the company’s initial public offering raised $805 million.[19] Samsara sold 35 million shares in its initial public offering to raise $805 million at a valuation of $11.5 billion.[6] In December 2023, Samsara surpassed $1 billion in Annual Recurring Revenue (ARR).[20]

In September 2022, the company added its 200th partner integration on the Samsara App Marketplace.[21][22]

Per CRN and CNBC, Samsara was named one of Glassdoor’s Best Places to Work for culture and values in 2023, and among the Glassdoor’s Best-Led Companies in 2024,[23][24]

In June 2024, Samsara introduced the Asset Tag, a small tracking device designed to monitor and manage high-value items such as toolboxes and specialized equipment. The Asset Tag utilizes Bluetooth technology and Samsara's network of cloud-connected devices to enable companies to track small assets, with the aim of reducing search time for misplaced items and simplifying inventory management in industries such as transportation, construction, and oil and gas. The company also announced Connected WorkFlows and Connected Training. [25][26]

As of 2024, Samsara’s partners include vehicle manufacturers Ford Motor Company, General Motors, Navistar, EVgo, Stellantis Free2move, Thermo King, DHL, Primoris Services Corporation, Sysco, Home Depot, XPO, Inc., and Frontier Communications, among others.[22][27] Samsara also has a slate of public sector customers, including the City of New Orleans,[28] the City of Boston,[29] the City of Houston, the State of New Jersey,[30] and the State of Tennessee.[31]

References

  1. ^ "Samsara Inc. FY2023 Annual Report (Form 10-K)". SEC.gov. U.S. Securities and Exchange Commission. 22 March 2023.
  2. ^ "Samsara Inc. (IOT)". Yahoo Finance Chartbook. January 31, 2024. Retrieved July 24, 2024.
  3. ^ a b Noi Mahoney (February 11, 2021). "Samsara hits milestone with $300M run rate". Freight Waves. Retrieved December 10, 2021.
  4. ^ Brian Rinker (May 20, 2021). "S.F. unicorn raises $400M at lower valuation, cuts 300 employees". San Francisco. Retrieved December 10, 2021.
  5. ^ Yuliya Chernova (September 9, 2021). "Samsara Raising Money at $6 Billion Valuation". Wall Street Journal. Retrieved December 10, 2021.
  6. ^ a b Woelfel, Joe (15 December 2021). "Samsara IPO Is Priced at $23 a Share, Valuation at $11.5 Billion". Retrieved 21 March 2024.
  7. ^ a b 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.
  8. ^ Constine, Josh (November 18, 2012). "Cisco Acquires Enterprise Wi-Fi Startup Meraki For $1.2 Billion In Cash". TechCrunch. Retrieved September 16, 2021.
  9. ^ 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.
  10. ^ Hall, Gina (May 19, 2015). "Wireless sensor startup Samsara raised Series A from Andreessen Horowitz". Silicon Valley Business Journal. Retrieved September 16, 2021.
  11. ^ "The Complete List Of Unicorn Companies". CB Insights. Retrieved September 16, 2021.
  12. ^ "Prime Unicorn Index - Samsara, Inc" (PDF). vcexperts.com. Retrieved September 16, 2021.
  13. ^ "Exclusive: Enterprise Sensor Startup Samsara to Raise $100 Million at $3.6 Billion Valuation". Cheddar. December 28, 2018. Retrieved September 16, 2021.
  14. ^ 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.
  15. ^ "What Shipping & Logistics Volatility Means For Samsara And Its Peers". CB Insights. July 16, 2020. Retrieved September 16, 2021.
  16. ^ Baker, Linda (May 20, 2020). "Samsara lays off 18% of workforce". freightwaves.com. Retrieved September 17, 2021.
  17. ^ Huff, Aaron (11 February 2019). "Samsara has added an AI Dash Camera to their fleet platform". Commercial Carrier Journal. Retrieved 14 May 2024.
  18. ^ Scooter Doll (July 13, 2021). "Samsara and EVgo announce partnership to speed up commercial fleet electrification". Electrek. Retrieved December 10, 2021.
  19. ^ Yasmin, Mehnaz; Wang, Echo (15 December 2021). "Andreessen Horowitz-backed Samsara valued at $12.5 bln in market debut". Retrieved 21 March 2024.
  20. ^ du Preez, Derek (1 December 2023). "Samsara hits $1 billion ARR milestone and raises full-year guidance". diginomica.com. Retrieved 27 March 2024.
  21. ^ Angel Coker Jones (September 13, 2022). "Samsara marks 200th integration, hires leader to expand ecosystem". CCJ Digital.
  22. ^ a b Lawton, George (13 September 2022). "How Samsara is driving digital transformation in the supply chain". VentureBeat. Retrieved 21 March 2024.
  23. ^ Haranas, Mark (16 September 2023). "Glassdoor: Top 10 Tech Companies In 2023 For Culture, Values | CRN". www.crn.com. Retrieved 27 March 2024.
  24. ^ Alex Koller (May 15, 2024). "These are the 10 best-led companies in the country, according to Glassdoor—they have more than just 'a great CEO'". CNBC. Retrieved July 24, 2024.
  25. ^ Seth Clevenger (July 1, 2024). "Samsara Extends Tracking to Small, High-Value Assets". Transport Topics News. Retrieved July 24, 2024.
  26. ^ Kevin Linger (June 28, 2024). "Beyond connectivity: Samsara makes three introductions in '24 keynote". Fleet Equipment Magazine. Retrieved July 24, 2024.
  27. ^ John Hitch (June 30, 2023). "Samsara's new data tools enable fleets to undergo digital rebirth". Fleet Owner. Retrieved July 24, 2024.
  28. ^ Quinlan, Keely (1 December 2023). "New Orleans moves vehicle fleet operations into the cloud". StateScoop. Retrieved 27 March 2024.
  29. ^ Descant, Skip (26 May 2020). "Fleet Management Tech Tells Boston Exactly Where Each Snowplow Has Been". GovTech. Retrieved 27 March 2024.
  30. ^ 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.
  31. ^ Noi Mahiney (September 13, 2021). "Samsara named telematics provider for state of Tennessee". Freight Waves.
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