Samsara (company) explained

Samsara Inc.
Type:Public
Industry:Internet of things
Hq Location City:San Francisco, California
Hq Location Country:United States
Areas Served:-->
Revenue Year:2024
Income Year:2024
Net Income Year:2024
Assets Year:2024
Equity Year:2024
Owners:-->
Num Employees:2,895
Num Employees Year:2024
Footnotes:Financials [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] 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]

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

History

Co-founders Sanjit Biswas and John Bicket met while graduate students at the Massachusetts Institute of Technology.[5] The pair founded Samsara in 2015 after selling their previous company, Meraki, to Cisco Systems in 2012.[5] [6] Samsara was initially created to provide sensor technology for industrial operations, and Andreessen Horowitz became a Series A round early investor.[7] [8]

Samsara achieved unicorn status in March 2018 after a funding round led to a valuation of over $1B.[9] [10] Another funding round later that year rose the valuation to $3.6B backed by Andreessen Horowitz and General Catalyst.[11] 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.[12]

Samsara was impacted during the COVID-19 pandemic which resulted in a reduction to their staff.[13] [14]

In February 2019, Samsara introduced new AI dash cameras that use computer vision to interpret road scenes and driving behavior.[15] 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.[16] [17]

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.[18] Samsara sold 35 million shares in its initial public offering to raise $805 million at a valuation of $11.5 billion.[19] 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, 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]

Notes and References

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

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