Samsara Inc. announced that it has submitted a confidential draft registration statement on Form S-1 with the U.S. Securities and Exchange Commission (the "SEC"), the company announced in a statement on Sept. 1.
This is related to a proposed initial public offering of its common stock. The number of shares to be offered and the price range for the proposed offering have not been determined.
Samsara is a cloud-based platform for telematics and fleet management. Over 20,000 organizations use Samsara to lower fuel consumption, prevent accidents, automate manual processes, and improve product quality.Founded in 2015, Samsara's board of directors include Marc Andreessen, the cofounder of venture capital firm Andreessen Horowitz. Samsara raised $400 million at a valuation of $5.4 billion last year, according to Bloomberg.
The initial public offering is expected to take place after the SEC completes its review process.
Originally posted on Automotive Fleet