Afero, a Menlo Park, CA-based provider of Internet of Things (“IoT”) Platform as a Service (“Paas”) solutions that bring secure connectivity to IoT devices, raised $50 million in Series C funding.
The round was led by Crosspoint Capital Partners, with participation from The Home Depot. In conjunction with the funding, Dr. Hugh Thompson, Managing Partner of Crosspoint Capital, will join Afero’s Board of Directors.
The company intends to use the funds to expand operations and its business reach.
Company: Afero, Inc.
Raised: $50.0M
Round: Series C
Funding Month: December 2021
Lead Investors: Crosspoint Capital Partners
Additional Investors: The Home Depot
Company Website: http://afero.io/
Software Category: Internet of Things (“IoT”) Platform as a Service (“Paas”)
About the Company: Led by Joe Britt, Co-Founder, and CEO, Afero provides a software platform that enables secure communication across devices such as all types of smart home products ranging from light bulbs to fans, to connected thermostats. The platform also provides secure cloud communication between the device and Afero’s hosted cloud services. The company’s team is comprised of mobile, hardware, security, and cloud veterans from Google, Apple, Nest, Danger, Microsoft, Amazon, Twitter, Netflix, and other leading platform companies.
Source: https://www.finsmes.com/2021/12/afero-raises-50m-in-series-c-funding.html