Industrial IoT Company Samsara Raises $40M in Series C Growth Financing

Written By: Stratton Report
June 21, 2017

On June 21, 2017, Samsara announced it had received $40 million in Series C financing led by General Catalyst, with participation from investor Andreessen Horowitz and Samsara’s founders. According to Samsara , the round valued the company at over $530 million as the its revenues grew in excess of 250% on an annual basis.

Samsara stressed that their hardware-software platform combines data from sensorsGPScameras, and mobile apps in an integrated, cloud-based solution. The firm emphasized that its platforms technology is intended to drive operational gains ranging from safety and regulatory compliance to lower operating cost and increased customer satisfaction.

Sanjit Biswas, Samara’s co-founder and CEO commented: 

We believe that Samsara’s approach to IoT can have a broad impact across large markets. We’ve already seen the technology benefit vehicle fleet operators to water utilities to energy producers. This new financing lets us invest in long-term technology development to explore new applications for our platform.