September 10, 2019
We are excited to announce $300M in new funding to accelerate Samsara’s growth. The funding comes from new investors Tiger Global and Dragoneer, along with existing investors Andreessen Horowitz and General Catalyst. The round values Samsara at $6.3 billion, and brings our total funding raised to $530 million.
The funding comes as demand from our customers continues to surge. Over the past year we onboarded our 10,000th customer and expanded into 10 new countries, while growing revenue at over 200% annually. But we are just at the beginning of a long journey to increase the efficiency, safety, and sustainability of the operations that power our economy. With this capital, we will develop new products for our customers, expand into new geographical markets, and grow our team to continue delivering a great customer experience as we scale.
Samsara serves customers in operational industries from transportation and logistics to field services, food production, energy, construction, local governments, and manufacturing. These industries form the foundation of our economy; yet with assets and workers distributed across remote and often rugged environments, they have long been underserved by technology. But that is changing.
The Internet of Things (IoT), driven by advancements in wireless data, cameras, cloud computing, and AI, is enabling these physical operations to adopt technology in powerful ways. In fact, McKinsey predicts that Industrial IoT will provide over $2.2 trillion in global economic impact by 2025. As operators realize the benefits of IoT for their workers, their customers, and their bottom line, adoption is surging.
At Samsara we make complete hardware, software, and cloud solutions that bring real-time visibility, analytics, and AI to operational customers of all sizes. With Samsara, customers manage their operations in real-time from our cloud-based dashboard, leveraging integrated software to lower fuel consumption, reduce emissions, prevent accidents, automate manual processes, improve quality, and avoid downtime.
Our growing suite of solutions includes vehicle telematics, driver safety, mobile workflow and compliance, asset tracking, and industrial process controls - all in an integrated, open, real-time platform.
This is how a few of our 10,000+ customers have transformed their operations with Samsara:
Reducing environmental impact at the City of Fort Lauderdale: 1,700 citywide vehicle fleet has decreased fuel consumption by 5%, achieving the carbon emissions impact of planting nearly 20,000 trees while saving taxpayer dollars.
Keeping drivers safe at Simco Logistics: With dash cameras and AI-based driver coaching software, Simco reduced their distribution fleet’s accident rate by over 50%, reducing insurance premiums while helping their drivers come home safely.
Improving customer service at San Jose Water Company: Real-time visibility into pumps and water equipment has informed capital planning and delivered better customer service for their 1 million customers.
Increasing efficiencies at Collins Earthworks: Leading UK-based construction company uses Samsara’s fuel usage reports to calculate exactly how load weight influences fuel usage on trips, leading to better cost estimates for loads.
With a sustainable business model and a fast-growing base of happy customers, the funding will enable new long-term investments. In the coming year, Samsara will add 1,000 new employees to:
Accelerate our expansion into Europe, Mexico, and Canada
Grow our R&D team to build new products for our customers
Scale our support and account teams to maintain a great customer experience as we grow
We are grateful to our customers for choosing to partner with us, and we’re excited to continue investing in new ways to improve the efficiency, safety, and sustainability of their operations.
If you're looking for a new challenge to take on, we'd love to hear from you! https://www.samsara.com/careers