Samsara Inc. said on Wednesday it has confidentially submitted plans to regulators for a U.S. initial public offering.
The number of shares to be offered and the price range have not been determined, according to a release. The IPO is expected to take place after the U.S. Securities and Exchange Commission completes its review.
San Francisco-based Samsara provides software and sensors to monitor and manage commercial fleets and industrial operations, with more than 20,000 customers in the energy, food and beverage, construction and manufacturing, and transportation industries.
The company was founded in 2015 by Sanjit Biswas and John Bicket and has 1,450 employees.
Samsara is backed by venture capital (VC) firm Andreessen Horowitz, considered by many to be one of the elite VC firms in Silicon Valley.
Some of Samsara’s other investors include General Catalyst, Tiger Global and Dragoneer. The company was valued at $5.4 billion last year, Forbes reported.
In February, Samsara announced it had surpassed more than $300 million in run-rate subscription revenue for the fiscal fourth quarter ended Jan. 30. The company said the run-rate subscription was achieved in five years with an annual growth rate of 80%.
The company has also released more than 200 features over the past two years, such as Samsara Fleet app, EV solutions and accessibility reports.
Samsara did not provide any other details on its IPO plans.
Click for more FreightWaves articles by Noi Mahoney.
More articles by Noi Mahoney
Oklahoma betting big on $124M global logistics park
Port Houston signs agreement for $1B channel expansion
Nuvocargo launches more efficient cross-border billing solution
Brokerage Compliance Symposium
The day before F3. Every compliance issue you face - fraud exposure, carrier liability, FMCSA rules, cargo theft, insurance gaps - navigated by attorneys and operators defining best practices in a changing industry.
F3 Awards Dinner
The night before F3. FreightTech100 companies honored. FreightTech 25 and Shipper of Choice winners revealed live. Cocktail reception into dinner and live music - 300 industry leaders in one purpose-built room.
F3: Future of Freight Festival
Industry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
The day before F3. Every compliance issue you face - fraud exposure, carrier liability, FMCSA rules, cargo theft, insurance gaps - navigated by attorneys and operators defining best practices in a changing industry.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowThe night before F3. FreightTech100 companies honored. FreightTech 25 and Shipper of Choice winners revealed live. Cocktail reception into dinner and live music - 300 industry leaders in one purpose-built room.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowIndustry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register Now