Samsara

History

2021: Exit to the exchange, estimated at $12.3 billion

In mid-December 2021, the manufacturer of equipment and software for Internet things Samsara entered the New York Stock Exchange. Trading in the company's shares began at $24.9, by the close of the exchange, securities rose 7%, as a result of which the company's market capitalization amounted to $12.1 billion. Shares are traded under the symbol IOT.

Samsara sells a cloud platform that enterprises with physical operations can use to collect and analyze IoT data, that is, information from such things as connected sensors, cameras, robots. Using the platform, this data can help different companies generate ideas or analyze the information received. The company's mission is to increase the security, efficiency and sustainability of operations that ensure the development of the economy.

The manufacturer of equipment and software for the Internet of things Samsara entered the NYSE with an estimate of $12.3 billion

Samsara believes that wireless technologies combined with artificial intelligence (AI) and a new generation of cameras and sensors made it possible for organizations to collect data in a way that was simply impossible several years ago. The main problem is that the data collected in 2014 are not linked, making it difficult to analyse them in general. Samsara aims to change this situation with a toolkit that includes vehicle telematics, driver safety, mobile workflows and compliance, asset tracking, and industrial process control. Data is integrated into the real-time platform and used by customers to prevent accidents, automate manual processes, reduce fuel consumption and improve product quality. As of December 16, 2021, Samsara has more than 20 thousand customers, from companies from the list of the largest corporations in the United States to little-known startups, in such areas as production, transport and logistics, field services, food production, energy and construction.

The company's plans to expand into other IoT segments are not accompanied by revenue diversification, as the company reports that at least 87.7% of annual recurring revenue in the 3rd quarter of 2021 comes from products such as video-based safety and vehicle telematics, said Samsara Chief Technology Officer John Bicket.

Before the IPO, the company raised $939.4 million in venture capital financing. Samsara took second place in the list of the fastest growing companies in America in 2021 according to the Financial Times, following the financial technology company Upgrade, which took first place. In addition, the company took 15th place in the list of the best startups of 2021 from LinkedIn.^[1]

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