Deals
AllianceBernstein Backs Samsara at $5.4 Billion Valuation
- Startup cut 300 employees, it said in a memo Wednesday
- New investors include Franklin Templeton, General Atlantic
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Samsara Networks Inc., a startup focused on internet-of-things technology, has raised $400 million, cutting its valuation to $5.4 billion, according to a memo from Chief Executive Officer Sanjit Biswas to employees Wednesday.
Biswas also held a company town hall in which he discussed the fundraising as well as 300 job cuts, representing 18% off the company and affecting employees outside North America in support functions such as recruiting and events.