Samsara has announced US$50 million in growth capital from investors Andreessen Horowitz and General Catalyst. The new funding comes as Samsara’s transportation business adds over 1,700 new customers each quarter and positions the company to rapidly scale support and customer enablement while investing in new technology innovation for its users.
Samsara offers its transportation customers a complete data platform for their operations, combining real-time GPS tracking, wireless sensors, video, and mobile applications with intuitive software that improves the efficiency of customers’ operations. With the new funding, Samsara will scale customer support and enablement to serve thousands of new customers and will expand its platform with new sensors, software, and AI-driven data analytics to bring new business value to its users. The company plans to grow from 300 employees to over 550 by year-end and will more than double its California-based engineering and customer support teams.
Customer-driven product innovation leads to rapid adoption across industries and market segments
Samsara’s customer-focused product development has translated to explosive growth in the market – with sales growing over 250 percent annually – creating a large and fast-growing base for the company’s new technologies. New customers are joining the company from across a range of industries, including:
- Food and Beverage distributors monitoring food safety during transit with wireless temperature and cargo sensors
- Trucking companies reducing distracted driving and increasing driver safety with gamification and in-cab cameras
- Construction firms optimizing inventories of generators and heavy equipment
- School districts helping parents locate lost children by tracking bus passengers in real time
- Cities helping residents navigate winter storms by publishing live snowplow paths
Funding Deepens Strong Financial Position
The new funding builds on Samsara’s already-strong financial position, providing the company with more than US$100 million of cash on hand to make long-term product investments and provide support to its rapidly growing customer base. The new investment brings Samsara’s total capital raised to US$130 million and values the company at US$1.4 billion.
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