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 $50m in Series C funding.
Crosspoint Capital Partners led the round 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.
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.
FinSMEs
08/12/2021