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Showing posts with the label Unicorn

Fast Eyes New Funding

  Domm Holland, Co-Founder and CEO, Fast. Photo credit: Fast Fast, a payments startup backed by investors including Stripe, is in discussions with investors to raise a new round of financing of between $50 million and $200 million that could value the startup at as high as $1 billion, according to a report [paywalled] from The Information . Fast is a payments startup that facilitates quick e-commerce checkouts for retailers and just seven months ago raised $20 million from payments company Stripe at a valuation of $180 million. It seems that Fast has seen a big usage uptick as a result of the coronavirus pandemic and is now looking to raise more funding to further its growth. Fast was only founded about a year ago and raised seed funding from investors including Index Ventures, Global Founders Capital, and media entrepreneur Brian Sugar.  Originally a service to facilitate quick, one-click sign-ins for apps and websites, Fast later expanded into e-commerce and formally launched a quic

GetYourGuide Scores $134M Round

  Johannes Reck, Co-founder and CEO of GetYourGuide. Photo credit:  "TechCrunch Disrupt Berlin 2019 - Day 2"   by  TechCrunch  is licensed under  CC BY 2.0 GetYourGuide, the German travel booking platform, has announced that it's raised €114 million ($134 million) in convertible note financing led by private equity firm Searchlight Capital, with participation from a group of existing investors including Battery Ventures, KKR, SoftBank Vision Fund, and Spark Capital. Executives from the company also chipped into the funding round, which comes at a time GetYourGuide is facing business hassles due to a steep decrease in travel activity amid a pandemic. Convertible note financing entails initial debt that can later be converted into equity in a company. With the new financing, GetYourGuide has now raised a total of nearly $800 million in outside funding. The company's most recent financing before now was a $484 million Series E that raised its valuation above the $1 billi

Whoop Scores $100M Round

  Will Ahmed, Founder and CEO, Whoop.  Photo credit:  Fortunebrainstormhealth ,  licensed under  CC BY-NC-ND 2.0 Whoop, a company that makes fitness tracking devices, has raised $100 million in Series E funding that places its valuation at $1.2 billion. The funding came from a group of investors including IVP, the SoftBank Vision Fund, Nextview Ventures, Accomplice, and Two Sigma Ventures as well as individual investors including sports stars Kevin Durant (NBA), Eli Manning (NFL), and golfer Rory McIlroy. IVP was the lead investor. With the new funding, Whoop has now raised over $200 million in equity financing to date. The new round follows what Whoop says was a period of 'tremendous' growth wherein it's seen its membership and sales soar. The company will use its new capital to maintain its growth, with global expansion on its sights.  Whoop makes fitness trackers that can monitor vitals such as sleep, movement, and workouts. The company's flagship fitness tracker has

Scopely Scores $340M Round

Mobile games developer Scopely has raised $340 million in Series E funding from a group of investors including well-known names like Wellington Management, BlackRock, Baillie Gifford, Revolution Growth, D1 Capital, and Battery Ventures. Altogether, 15 institutional investors chipped into the funding round, which now brings the total amount of financing raised by Scopely since its founding to about $1 billion. The new round is said to place Scopely's valuation at $3.3 billion, almost doubling a $1.7 billion valuation from the company's last funding round before now. Scopely says it'll use the new funding to bolster its business and support its pursuit of acquisitions as a strategic method of expansion. Scopely, which was founded in 2011, is a major mobile games developer, with hit titles including  The Walking Dead: Road To Survival , WWE Champions , Looney Tunes World of Mayhem , and MARVEL Strike Force . Currently, the company employs nearly 1,000 people across offices and

Tokopedia Scores $350M Round

William Tanuwijaya, Founder and Chief Executive Officer, Tokopedia. Photo credit:  World Economic Forum ,  licensed under  CC BY-NC-SA 2.0 Tokopedia, the Indonesian e-commerce company, has secured $350 million in funding from US tech giant Google and Singapore's Temasek Holdings, as first reported [paywalled] by Bloomberg . According to Bloomberg , a funding deal between all parties have been reached and could make it to signing soon. It's said that the $350 million funding falls short of Tokopedia's initial goal of raising between $500 million to $1 billion. Tokopedia, an online marketplace, is one of the biggest such marketplaces in Indonesia and in Southeast Asia at large. The company is already heavily capitalized, having raised north of $2 billion in funding since its inception. Its backers include Chinese tech giant Alibaba and Japanese tech conglomerate SoftBank. The backing of Tokopedia by Google and Temasek appears to be a vote of confidence for the company and co

Eat Just Seeks New Funding

Josh Tetrick, Co-Founder and CEO, Eat Just.  Photo credit: Web Summit, licensed under  Creative Commons Eat Just, a startup that makes plant-based eggs, is seeking to raise at least $200 million in private funding that may value the company at over $2 billion, according to a report [paywalled] by Bloomberg . According to Bloomberg , Eat Just has hired an investment adviser to help arrange a new financing round that could be the company's last before an initial public offering.  Before now, Eat Just is known to have raised over $300 million in funding and was valued at $1.2 billion from its most recent financing round. The company's backers include notable names such as Khosla Ventures, Salesforce CEO Marc Benioff, and Facebook co-founder Eduardo Saverin.  Eat Just majorly does business under the brand name  Just . The company makes plant-based alternatives to protein products such as eggs, milk, and meat. So far, plant-based eggs have been Eat Just's best-selling product a

Arctic Wolf Scores $200M Round

Arctic Wolf, a Minnesota-based cybersecurity company, has raised $200 million in Series E funding led by hedge fund Viking Global Investors, with participation from other existing investors including DTCP, an investment firm backed by telecoms giant Deutsche Telekom. The Series E funding adds up the total amount of financing that Arctic Wolf has raised since its inception to about $350 million and values the company at $1.3 billion.  Before now, Arctic Wolf's most recent funding round was a $60 million Series D closed in March this year. Arctic Wolf is a company that provides cyber risk management services for enterprises. The company employs cybersecurity experts who work as an extension of an organization’s internal team to monitor and manage cybersecurity operations. Arctic Wolf says it's seen a 106% growth in revenue over the past year. With the new Series E funding, Arctic plans to expand and add 150 new jobs. Before now, the company was based out of California but has rel

Tekion Lands $150M Round

Tekion, an automotive retail platform founded by a former Tesla executive, has announced that it's raised $150 million in Series C funding led by private equity firm Advent International, with participation from Index Ventures, Airbus Ventures, FM Capital, and holding company Exor. The new funding brings the total amount raised by Tekion to $215 million and places the company's valuation above $1 billion. Under the terms of the new funding, Jon McNeill, a former Chief Operating Officer of ride-hailing company Lyft and a current Advisory Partner to Advent International, is joining Tekion's board. Tekion is an online sales platform for car dealerships and retailers. The company was founded in 2016 by Jay Vijayan, who was previously the Chief Information Officer of electric carmaker Tesla. Vijayan worked at Tesla between the years of 2012 to 2016 before leaving to launch Tekion and has apparently seen huge success as a founder, now with a company valued at above $1 billion by

Arrival Nabs $118M From BlackRock

Photo credit: Arrival Arrival, a UK-based electric vehicle upstart, has announced that it's raised $118 million of funds from US-based asset management firm BlackRock. The company intends to use the new funds to support its growth plans as it ramps up vehicle production, plans which include the launch of its first US manufacturing facility in the state of South Carolina. With the new funding, Arrival is now known to have raised over $230 million in private funding since its inception. Before now, the company was backed by investors including Korean automaker Hyundai. Arrival is an electric vehicle upstart that's focused on producing lightweight electric commercial vehicles. The company has based its operations around "microfactories" that can be easily set up globally to churn out vehicles. Even before commencing production, Arrival has already secured an order of 10,000 electric vans from US courier giant UPS, with the option to buy an additional 10,000 vans. The com

Getaround Lands $140M Series E

Sam Zaid, Co-Founder and CEO, Getaround. Photograph by Stefen Chow/Fortune Brainstorm Tech International, licensed under Creative Commons Getaround, the popular carsharing platform, has announced that it's raised $140 million in Series E funding from a quite large group of investors including Menlo Ventures, PeopleFund, Cathay Innovation, SoftBank Vision Fund, Asset Plus Capital, Reinvent Capital, Nikola Corp Chairman Steve Girsky, and AmRest founder Henry McGovern. The new funding brings the total amount of capital raised by Getaround to nearly $600 million. It represents quite the bounce-back for Getaround, which was reported to be flirting with bankruptcy as the initial stages of the coronavirus pandemic largely dwindled its business. With the new round, Getaround says it'll further expand its business. The company's Series E round coincides with its hiring of four new executives, a Chief Operating Officer by the name of Dan Kim who was most recently at Airbnb; a Chief

Calm Targets New Funding

Michael Acton Smith, Co-founder & Co-CEO, Calm. Photo by Seb Daly/Web Summit via Sportsfile, licensed under Creative Commons Calm, the popular meditation and sleep app, is considering raising a new funding round that could double its current private valuation, according to a report [paywall] from Bloomberg . San Francisco-based Calm has discussed raising about $150 million in fresh funding at a $2.2 billion valuation and could hold a secondary round for some early investors to trim their stakes, reports Bloomberg . Calm as a company last raised funding in July of last year, closing a $115 million Series B that was led by investment firm TPG. Since its founding in 2012, Calm has raised a total of $143 million in outside funding. The company's backers include notable names like TPG, Lightspeed Venture Partners, Sound Ventures, Insight Partners, and the Creative Artists Agency (CAA).  As of December last year, Calm reported having 60 million+ total app downloads. It's overal

Wealthsimple Eyes New Funding

Mike Katchen, CEO, Wealthsimple. Photo credit: Wealthsimple Wealthsimple, a Canadian digital investment service with nearly $4 billion in assets under management, is on the cusp of a deal to raise new funding that'll value it at over $1 billion, according to a report [paywall] by Bloomberg . Wealthsimple is in the final stages of closing a fresh funding round of more than C$100 million ($76 million) that'll be led by Technology Crossover Ventures, a famous late-stage technology investor, reports Bloomberg . Before now, Wealthsimple as a company has raised C$267 million ($203 million) in total funding, with its last financing round occurring last year. Among the company's current backers include the likes of Power Financial and Allianz X, the venture arm of insurance giant Allianz. Wealthsimple is basically an online investment manager that's available to customers in Canada, the US, and the UK. The company currently manages C$5 billion ($3.8 billion) in assets for 175,

Oxford Nanopore Lands $110M Round

Oxford Nanopore Technologies, a British biotech firm, has announced that it's raised £84.4 million ($110 million) in new funding from a group of new and existing investors including Railpen Investments, an investment arm of the UK Railways Pension Scheme, and the International Holdings Company (IHC), an Abu Dhabi-based investment firm. The company says it'll use the new capital to support its commercial and manufacturing operations as well as ongoing research and development in the field of nanopore sequencing. The new round brings the total amount of funding raised this year alone by Oxford Nanopore to £162 million ($211 million) and places the company's valuation at £1.7 billion ($2.2 billion). Altogether, Oxford Nanopore has now raised £800 million ($1 billion) in funding since its inception. The company's new raise comes on the heels of a business boost as it forayed outside its main business of nanopore sequencing and began producing coronavirus test kits amid the

Everlywell Eyes New Funding

Julia Cheek, Founder and CEO, Everlywell. Photo credit: Steve Jennings/Getty Images for TechCrunch, licensed under Creative Commons Everlywell, a home health testing startup that on the heels of the coronavirus pandemic majorly pivoted to offering at-home coronavirus tests, is in talks to raise fresh funding at a valuation of $1 billion or more, according to a report [paywall] from Bloomberg . According to Bloomberg , prospective investors including venture capital firms are participating in the discussions with Everlywell, which before now was valued at $175 million from its most recent funding round. As a privately held startup, Everlywell is known to have raised about $50 million in funding since its inception. Everlywell usually offers individual access to a suite of home lab tests for health concerns such as fertility, Lyme Disease, Cholesterol levels, and general sexually transmitted infections. On the heels of a coronavirus pandemic that swept through the US this year, the com

goPuff Lands $380 Million Round

Photo credit: goPuff On-demand delivery service goPuff has announced that it's raised $380 million in new funding that pushes its valuation to $3.9 billion. The new funding was led by existing investors Accel and D1 Capital Partners, with participation from Luxor Capital and the SoftBank Vision Fund. Accel first backed goPuff in 2018 and is back two years later to co-lead a major funding round for the company. With the new funding, goPuff has now raised a total of over $1.2 billion in financing since its inception. goPuff, which was founded seven years ago, is one of the leading on-demand delivery services in the US. With goPuff, residents in over 500 U.S. cities are able to order an assortment of products such as food and drinks, over-the-counter medications, home and cleaning products, and even alcohol (in some cities) on the go. goPuff is akin to an on-demand Amazon, given the company operates its own micro fulfillment centers rather than fetch goods from convenience and retail

Instacart Scores Extra $200 Million

Instacart CEO Apoorva Mehta. Photo by Steve Jennings/Getty Images for TechCrunch, under Creative Commons license Despite having closed $325 million in funding just in July of this year, grocery delivery company Instacart is apparently not satisfied, having just announced that it's raised an extra $200 million that pushes its valuation to $17.7 billion. The new funding, a Series H, came from existing investors D1 Capital Partners and Valiant Peregrine Fund. It brings the total amount of outside funds raised by Instacart to about $2.4 billion and ups its valuation from a previous $13.8 billion.  Instacart's latest fundraise comes on the heels of a major business boost for the company as the coronavirus pandemic largely drove people away from in-person grocery and supplies shopping and towards on-demand shopping services like Instacart. It's such that Instacart is reported to have turned its first-ever monthly profit in this year, compared to a loss of $300 million i

MessageBird Lands $200 Million Round

Robert Vis, CEO, MessageBird.  Photo credit: MessageBird MessageBird, an Amsterdam-based cloud communications upstart, has announced that it's raised $200 million in Series C funding led by venture capital firm Spark Capital, with participation from the likes of Accel, Y Combinator, Atomico, LGT Lightstone, and New View Capital. The new fundraise brings the total amount of funding raised by MessageBird since its inception to $300 million and values the company at $3 billion. Under the terms of the investment, Will Reed, a Partner at Spark Capital, is getting a board seat at MessageBird. MessageBird closed the Series C, its largest single fundraise ever, on the heels of a global surge in the demand for online communication tools. It's such that the coronavirus pandemic has driven many to largely work and conduct business remotely and, as a result, largely boosted the need for cloud-based communications tools and software. MessageBird offers a platform for enterprises to communic

Unqork Scores $207 Million Round

Gary Hoberman, founder and CEO, Unqork. Photo credit: Womensphere Community, licensed under Creative Commons Unqork, a low-code platform for enterprises, has announced that it's raised $207 million in Series C funding that raises its valuation to $2 billion. The new funding came from a group of new and existing investors including the likes of BlackRock, Goldman Sachs, Alphabet's CapitalG, Hewlett Packard Enterprise, Schonfeld Strategic Advisors, and World Innovation Lab (WiL). It brings the total amount of equity financing raised by Unqork since its inception now to $365 million . Unqork is a low-code majorly visual app development platform used by enterprises to build custom software faster and easier. The company's typical customers are firms from industries like financial services, healthcare, insurance, and the likes where software development isn't really cored to their operations. The idea behind Unqork is helping such firms develop simpler applications without h

Tipalti Lands $150 Million Round

Henry Ellenbogen, Founder, Durable Capital Partners. Durable Capital Partners led the $150 million round for Tipalti. Photo credit: Kevin Moloney/Fortune Brainstorm Tech, licensed under Creative Commons Tipalti, an accounting software upstart, has announced that it's raised $150 million in a new round that pushes its valuation to over $2 billion. The new financing round was led by investment firm Durable Capital Partners, with participation from Greenoaks Capital and 01 Advisors. It brings the total amount of equity financing raised by Tipalti since its founding to around $280 million. Tipalti will make use of the new capital to fuel its global expansion. Tipalti is a payments automation solution for businesses. The company develops software that helps businesses to automate manual supplier payment processes, with Tipalti claiming that it typically reduces the workload for enterprises to handle their supplier payments by 80%. In the past year, Tipalti has handled $12 billion in pay

Dialpad Lands $100 Million Round

Craig Walker, CEO, Dialpad. Photo credit: Dialpad Dialpad, a cloud communications platform for enterprises, has announced that it's raised $100 million in new funding that gives it a valuation of $1.2 billion. The new funding, a Series E, came from a group of investors including Andreessen Horowitz, Iconiq Capital, and Alphabet's GV, bringing the total amount of equity financing raised by Dialpad since its inception now to $220 million.  Dialpad, being an online communications platform for businesses, has seen a business boom on the heels of a coronavirus pandemic that has largely driven people to work from home and majorly adopt online communications tools as a result. According to Dialpad's CEO Craig Walker, the company recorded its two best quarters ever in the first and second quarter of this year. Dialpad as a company traces its roots to UberConference, a conference calling platform founded by the company's current CEO, Craig Walker, in 2012. Walker founded UberCon

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Pokémon Go Creator Niantic Raises $300M, Valued At $9B

Niantic , an augmented reality (AR) company whose products include the famous  Pokémon Go game, has raised a big new round of funding. It's raised $300mn in funding at a valuation of $9bn. All the funding came from just one investor; Coatue , a New York-based hedge fund famous for investing in many blue-chip tech startups. With its new funding, Niantic says it'll invest in current games and new apps and expand its AR developer platform called Lightship . The company says it's set on building the "real-world metaverse," jumping on the bandwagon popularized by Facebook's parent firm, Meta.  The base for Niantic's metaverse vision is the Lightship developer platform which it launched this month. It's a platform for developers to build augmented reality apps and experiences, drawing from Niantic's tools that helped create its hit  Pokémon Go game. To draw creators to Lightship, Niantic has also set up a $20mn venture fund to invest in AR startups

Deal: Workday Buys Ohio Startup Vndly For $510M

Workday (NASDAQ: WDAY), the famous HR/finance software vendor, has made a big new acquisition to support its platform. The company will acquire Vndly , a software platform for companies to manage contract workers. Vndly fits in well in Workday's overall software suite, and the rationale behind the purchase is clear. Vndly is an Ohio-based startup. Workday will pay $510mn to buy it, marking one of Ohio's biggest startup exits this year. Vndly has raised roughly $60mn from VCs, so a $510mn exit is very lucrative and more so for a startup founded just four years ago .  Before now, Vndly and Workday were already close allies. Vndly's platform is integrated with Workday's, with official certification to go. The Mason, Ohio-based startup is part of Workday's global network of endorsed software partners, so Workday didn't even have to look far to snatch its latest acquisition.  Vndly was founded in 2017 by two entrepreneurs,  Shashank Saxena and Narayana Surabhi .

Amazon, Apple Fined $230M For Reseller Collusion In Italy

Tech giants Amazon (NASDAQ: AMZN) and Apple (NASDAQ: AAPL) have been handed sizeable fines by the Italian government following an investigation into alleged reseller collusion between both companies. Amazon was fined €135mn ($151mn) and Apple  €69mn ($78mn), totaling $229mn .  The fine was levied by the  Italian Competition Authority . According to the agency, Apple and Amazon had a contractual agreement to allow  select resellers to sell Apple and Beats products on Amazon's Italian marketplace. The agency said that the selection was applied in a "discriminatory" way that violated European Union rules and affected price competition. According to the  Italian Competition Authority, at least 70% of local consumer electronics purchases are made on Amazon, making it a dominant retailer. This dominance, therefore, demands a "level playing field" for retailers that sell on Amazon's marketplace, the agency said. This is the nth time Amazon is getting in the cr

Antitrust: US DOJ Sues To Block Major Sugar Industry Merger

The U.S. Department of Justice (DOJ) is freshly on the antitrust circuit, seeking to block a merger it deems detrimental to consumers. The agency has filed a lawsuit to block the sale of  Imperial Sugar , a leading American sugar producer, to rival  U.S. Sugar . The DOJ says the proposed deal will make just two sugar producers account for an "overwhelming majority" of refined sugar sales in the U.S. Southeast, U.S. Sugar being one of the two producers. This concentration of power would make consumers pay more for refined sugar, the DOJ says.  Imperial Sugar is owned by Louis Dreyfus Company, a privately-held agricultural giant based in the Netherlands. The company agreed to sell Imperial to rival U.S. Sugar for the sum of $315mn this March.  U.S. Sugar is another privately-held agricultural giant headquartered in Florida. It can produce up to 850,000 tons of sugar annually at its refinery plant in Florida, and buying Imperial would give it two more sugar plants in Kentuc

Alt-Meat Maker Impossible Foods Raises $500M In Fresh Funding

A leading maker of plant-based meat substitutes, Impossible Foods , has obtained a fresh cash infusion from VCs. It has  raised $500mn in new funding, bringing the total amount of funding it has raised since inception to $2bn.  The latest round was provided entirely by existing investors doubling down on Impossible Foods.  Mirae Asset Global , a Korean investment firm, led the round and was joined by other unnamed existing investors.  It's evident that investors are longing for Impossible Foods, a leading brand in the nascent market for plant-based meat substitutes. There's clearly huge potential for plant-based meat substitutes, driven by an increasing vegan population and the appeal to lower the carbon footprint that spurs from meat consumption. To that end, Impossible Foods is growing rapidly. Its products can now be found in more than 20,000 retail stores, compared to 150 as of March 2020, and 40,000 restaurants globally. Over the past year, Impossible has launched in ne

Deal: KKR Makes $37B Buyout Offer For Telecom Italia

Private equity giant KKR (NYSE: KKR) has ventured into Italy for its latest buyout deal. The firm has offered to buy Telecom Italia (BIT: TIT), the largest telecom provider in Italy, in a deal worth  €33bn ($37bn), including debt. KKR offered 0.505 Euros in cash for each outstanding  Telecom Italia share, a 46% premium to the last closing share price before the offer. That sums up to  €10.7bn ($12bn) in cash to be paid for Telecom Italia, and including the telecom firm's large net debt of €22.5bn ($25bn) sums up to $37bn in total.  KKR's offer is non-binding and must be approved by Telecom Italia's board members and majority shareholders before the deal goes through. Approval must also come from the Italian government, which was veto power over the takeover of the formerly state-owned telecoms firm.  Telecom Italia gave no indication that it'll approve the deal. If approval is given, it'll mark one of the biggest buyout deals of a European company by an America

Earnings: Nvidia Is On A Tear

Chipmaking giant Nvidia (NASDAQ: NVDA) has unveiled the financial results for its latest fiscal quarter ended October 31, 2021. The company reported a sharp rise in sales that can only be described as being on a tear. Nvidia posted $7.1bn in revenue in the quarter, up 50% year-over-year . The large growth was driven mostly by the company's data center sales, which increased 55% year-over-year to $2.9bn. Similarly, Nvidia's gaming revenue rose 42% year-over-year to $3.2bn. Net income for the quarter was $2.5bn , up 4% from the same period last year. It was an outstanding quarter all-around for Nvidia, a beneficiary of the recent massive growth of the gaming industry and data center boom. Nvidia's GeForce graphics cards are very popular with gamers, and data center operators patronize Nvidia's high-performance graphics processors for artificial intelligence applications.  Save for data centers and gaming, Nvidia has other minor product lines, including automotive chip

Cyber: Apple Sues NSO Group Over Spyware Hacks

Tech giant Apple (NASDAQ: AAPL) has filed a lawsuit against NSO Group , a controversial Israeli company that sells smartphone hacking tools and has been  implicated in the hacks and surveillance of many notable persons, including journalists, activists, and business executives, by state-sponsored actors. Apple has sued NSO Group for infecting iPhones with spyware to track users of interest. As part of the suit, the tech giant seeks a permanent injunction to ban NSO Group from using any Apple products. NSO Group is best known for its Pegasus spyware that can be covertly installed on mobile phones running most versions of iOS and Android. The company exploits vulnerabilities in both operating systems to introduce spyware into a phone without the user's knowledge. Pegasus was the center of a Washington Post investigation called "The Pegasus Project," revealing that the spyware was used to surveil over 1,000 identified notable individuals across countries with shoddy hu

Markets: Retail Giant Authentic Brands Scraps IPO Plans

Authentic Brands Group , a New York-based retail conglomerate, has suspended its plans for an initial public offering (IPO) after already filing an S-1 document with the US SEC. The company has instead opted to raise private funding to fund expansion in the main time. Authentic Brands Group's portfolio retail brands include apparel retailer Forever21 , men's suit maker Brooks Brothers , and department store chain Barneys New York . The company is akin to an old people's home where once-vibrant retail brands go to stay after they've gone past their peak. Authentic buys these befallen retail companies and makes money from what's left of them through licensing deals.  Over the years, Authentic has relied on hefty venture funding to assemble its constellation of old-guard brands. An IPO was supposed to raise even more money for expansion but has been set aside in favor of private funding.  Authentic is  rather selling  equity stakes to private equity firm CVC Capital

Markets: IoT Startup Samsara Files For IPO

The latest tech startup to board the IPO train is Samsara , a VC-backed startup that makes internet-of-things (IoT)-based fleet monitoring hardware and software for logistical operators. It has unveiled an S-1 filing with the US SEC, showing its intention to list on the New York Stock Exchange (NYSE). Samsara has raised nearly $1bn from VCs including Andreessen Horowitz, Tiger Global, and General Catalyst, with a valuation of $5.4bn from its last funding round. The company's co-founders sold a previous startup named Meraki to Cisco for $1.2bn . As expected, Samsara's S-1 filing gives a deep glimpse into the company's business with information not publicly disclosed before. The company has been rather secretive over the years, making this long-awaited information. We've extracted some important information so you don't have to, mostly the financial stuff. Samsara brought in $303mn in revenue in the nine months ended October 2021, compared to $174mn in the same