Samsara Inc. announced that it has received $700 million in funding from a group of investors
May 14, 2020
Share
On May 15, 2020, Samsara Networks Inc. closed the transaction. The company amended and has received $700,000,000 in its series F round of funding. The round was raised at post-money valuation of $5,400,000,000.
The company received $400,000,000 in second and final tranche from new investors AllianceBernstein Holding L.P., General Atlantic Service Company, L.P., Franklin Resources, Inc., Warburg Pincus LLC along with Andreessen Horowitz LLC, General Catalyst Partners, Dragoneer Investment Group, LLC, Sands Capital Management, LLC, and Tiger Global Management LLC. The company raised $699,999,930 pursuant to exemption provided under Regulation D from 28 investors. The company has raised $930,000,000 in funding till date.
Samsara Inc. specializes in Connected Operations Cloud, which is a platform that enables organizations that depend on physical operations to use Internet of Things (IoT) data to develop actionable insights and improve their operations. The Company's Connected Operations Cloud includes its data platform, which ingests, aggregates, and enriches data from its IoT devices and a growing ecosystem of connected assets and third-party systems, and which has embedded capabilities for artificial intelligence (AI), workflows and analytics, alerts, application programming interface (API) connections, and data security and privacy; and applications for video-based safety, vehicle telematics, mobile apps and workflows, equipment monitoring, and site visibility. Its video-based safety application enables customers to build a safety program and protect their teams with AI-enabled video. It serves various sectors, including construction, transportation and warehousing, field services, and logistics.