Samsara announced Feb. 11 it has surpassed $300 million in run-rate subscription revenue in just five years, with more than 80% annual growth as of its most recent fiscal fourth quarter ended Jan. 30, 2021.
Using trillions of internet of things (IoT) data points, Samsara's Connected Operations Cloud helps more than 20,000 customers improve the safety, efficiency, and sustainability of the operations that power the global economy. Samsara operates in North America and Europe and serves a wide range of industries, including construction, education, energy, field services, food and beverage, government, passenger transit, transportation, and warehousing and utilities.
Samsara allows companies to connect their fleets, equipment, and sites within one integrated platform, where they can analyze data about safety, location, utilization, maintenance, compliance, and energy and fuel efficiency, generating insights for their business. This allows customers to quickly address issues in real-time, proactively manage maintenance requirements, and provide valuable context for any situation.
In the last fiscal year (which ended on Jan. 30, 2021), Samsara reached the following milestones:
Large and Growing Customer Base with Expansion Opportunity
- Surpassed 20,000 customers.
- Welcomed new customers including Sherwin-Williams, PODS, City of Sacramento, City of Boston, Goodfellow Bros., MacAllister Machinery, Kelly Group, Clean Harbors, and Liberty Oilfield Services.
Rapid Innovation and Data at Scale
- Announced new product solutions including Site Visibility and industrial equipment monitoring to bring customers full operational visibility across commercial fleets, equipment, and sites.
- Continued high velocity innovation, adding seven new patents and releasing more than 200 features in the past year, including the Samsara Fleet app, EV solutions and accessibility reports, safety AI features for tailgating and distracted driving, and mask detection for customers in sectors like passenger transit and healthcare.
- Analyzed 1.6 trillion IoT data points to provide real-time updates and analytics to our customers.
- Released new data insights for customers, including City Insights, a free resource for government leaders to access and explore commercial mobility trends within their cities.
Open Platform Powering Ecosystem of Applications and Partnerships
- Onboarded more than 400 channel and integration partners this year, including Nationwide, Volvo Trucks North America and Mack Trucks, Ford, Penske, Navistar, FleetCor, AssetWorks, and Thermo King.
- Launched new programs with existing partners, such as Uber Freight, Edulog, and RLI Insurance.
- Included data from 70+ integration partners to the Samsara platform from Samsara's open API. More than 6,000 customers are now using API integrations, and the average large customer with at least 1,000 devices is now using more than four integrations.
High Velocity, Disruptive SaaS Business Model
- Surpassed $300 million run-rate subscription revenue, an annual increase of more than 80%.
- Achieved a gross margin of above 70%.
- Exceeded 450 Samsara customers with annual recurring revenue of at least $100,000.
Recognition as High-Growth Technology Company
- Received recognition as a high-growth technology company making an impact on the world of physical operations. Select awards received include: Forbes Cloud 100, LinkedIn Top Startups, Deloitte Technology Fast 500, FreightWaves FreightTech 25, and Software Report Top SaaS CEOs.
- Samsara's investors include: AllianceBernstein Holding LP, Andreessen Horowitz, Dragoneer Investment Group LLC, Franklin Templeton, General Atlantic, General Catalyst, Sands Capital Management, Tiger Global Management, and Warburg Pincus LLC.
Originally posted on Government Fleet