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Samsara Announces Layoffs, Raises Capital
Transportation technology company Samsara laid off 300 employees, or 18% of its workforce, and raised additional capital amid the challenges presented by the novel coronavirus pandemic.
The additional capital involved $400 million in equity financing, according to the San Francisco-based company, which noted in a release it tripled its revenue in 2019.
鈥淭he reductions are concentrated in certain markets outside of North America and in supporting functions like recruiting,鈥 CEO and founder Sanjit Biswas said. 鈥淭his was a painful decision that affects our colleagues and friends, and we鈥檙e doing everything we can to support those who were impacted including severance pay, coaching and outplacement services, and health care coverage for the rest of the year.鈥
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鈥 Samsara (@Samsara)
He added: 鈥淲e remain optimistic about the future.鈥
Samsara offers hardware, software and cloud-related services to bring real-time visibility, analytics and AI to trucking operations. 鈥 Transport Topics
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