Samsara, a Data Analytics platform for connected operations based on sensor technology has closed a new round of funding from its investors General Catalyst and Andreessen Horowitz. PitchBook informed that these are the only two existing private investors in the company.The recent investment estimates the worth of the startup at $3.6 billion.Cheddar first reported the news when it spotted a filing with the state of Delaware on December 21.
KirenSekar, Samsara’s Vice President of Marketing and Products quoted,“Our growth comes from bringing transformational new technologies to solve the problems of operational businesses, a massive segment of the economy that has long been underserved by the technology industry.”
Founded in 2015, Samsara supports various industries with its internet-connected sensor systems, helping them to collect data and derive insights to improve their operations. It has been made possible by the advent of inexpensive sensors, high-bandwidth wireless connectivity, cloud computing, smartphones etc. which enables businesses to reap the benefits of it.
SanjitBiswas and John Bicket are the company’s co-founders, who were the brains behind Meraki, an enterprise Wi-Fi startup. It was acquired by Cisco in $1.2 billion deal in 2012.
The company’s revenue grew exponentially in 2018 as its customer base increased to 5,000. The company plans to hire a large number of employees, double down on AI, and open its first East Coast office in Atlanta.