IoT platform developer raises $40 million
The round was led by General Catalyst, with participation from existing investor Andreessen Horowitz and Samsara’s founders. The latest tranche of funding brings the amount raised by Samsara to $80 million and values the company at more than $530 million.
Samsara was founded in early 2015 by Sanjit Biswas, who serves as CEO, and John Bicket, who serves as CTO. The pair had previously founded cloud managed networks company Meraki Inc. and sold it to Cisco Systems in 2012 for $1.2 billion.
Samsara’s IoT sensor platform combines data from sensors, GPS, cameras and mobile apps in cloud-based software. The technology can be used to drive safety and compliance with regulations and Samsara claims to have a client list that includes long-haul trucking companies, food producers, passenger transit operators, local government authorities, and public utilities.
Samsara is already a 100-person company and intends to double its headcount by the end of 2017 enabling long-term investment in research and development.
“The team is successfully replicating the playbook they developed at Meraki in an even bigger market,” said Hemant Taneja, managing director at General Catalyst. “Their ambitious vision of the ‘industrial internet’ is already delivering significant value to the industrial businesses that power our economy and they’re just getting started.”
Taneja joins Marc Andreessen, founding partner at Andreessen Horowitz, Sanjit Biswas, and John Bicket on Samsara’s board of directors.
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