Samsara, the leader in Industrial IoT, has just raised $300M in a new "Series F" financing. The funding comes from new investors Tiger Global and Dragoneer, along with existing investors Andreessen Horowitz and General Catalyst. The money will be used to accelerate the company's rapid growth.
Samsara now has a valuation of $6.3B, which is nearly doubled from its previous $3.6B valuation on Dec 28, 2018, during its "Series E" round of a $100M in funding. The new financing brings the total funding raised to $530M.
The funding comes as demand from customers continues to surge. Over the past year, Samsara more than doubled their customer base to 10,000, and expanded into 10 new countries, all while growing revenue at over 200% annually. With this capital, Samsara will develop new products for customers, expand into new geographical markets, and grow the team to continue delivering a great customer experience as the company scales.
Samsara’s portfolio of complete Internet of Things (“IoT”) solutions combine hardware, software, and cloud to bring real-time visibility, analytics, and AI to operations. It serves over 10,000 customers across diverse sizes and industries, from transportation and logistics to field services, food production, energy, construction, local governments, and manufacturing.
Samsara’ growing suite of solutions include vehicle telematics, driver safety, mobile workflow and compliance, asset tracking, and industrial process controls - all in an integrated, open, real-time platform.
Samsara was founded in 2015 by by Sanjit Biswas and John Bicket, co-founders of Meraki, now part of Cisco Systems. The company was Named One of LinkedIn's Top Startups of 2019, 2018 People's Choice American Business Award - B2B Products", "2018 Internet of Things 50 - The Channel Co CRN.