Security Experts:

Connect with us

Hi, what are you looking for?

SecurityWeekSecurityWeek

Cybersecurity Funding

Afero Raises $50 Million for Its Secure IoT Platform

Afero, a Menlo Park, California-based company focused on securing IoT device communication, has closed a $50 million Series C funding round. To date, the company has raised $100 million in funding.

The new investment came from Crosspoint Capital Partners. Home Depot also participated, but the terms of the transaction were not disclosed.

Afero, a Menlo Park, California-based company focused on securing IoT device communication, has closed a $50 million Series C funding round. To date, the company has raised $100 million in funding.

The new investment came from Crosspoint Capital Partners. Home Depot also participated, but the terms of the transaction were not disclosed.

Founded in 2014, Afero aims to secure device connectivity from the manufacturing process to consumer use, offering a platform that supports all types of smart home devices and provides secure cloud communication with Afero’s services.

The company’s solution, which is offered under the Platform-as-a-Service (PaaS) business model, delivers hardened security, simplifies onboarding, and can also accommodate the needs of organizations looking to deploy complex IoT programs.

“Since 2014, Afero has enabled consumers and enterprises to better protect the devices they use daily, and we’re eager to extend our offerings across new markets such as logistics and healthcare,” Joe Britt, co-founder and CEO of Afero, said.

Related: Email Security Company IronScales Raises $64 Million

Related: ID Verification Company Incode Raises $220 Million at $1.25B Valuation

Related: Grip Security Raises $25 Million to Secure SaaS Applications

Written By

Ionut Arghire is an international correspondent for SecurityWeek.

Click to comment

Daily Briefing Newsletter

Subscribe to the SecurityWeek Email Briefing to stay informed on the latest threats, trends, and technology, along with insightful columns from industry experts.

Expert Insights

Related Content

Application Security

Cycode, a startup that provides solutions for protecting software source code, emerged from stealth mode on Tuesday with $4.6 million in seed funding.

Management & Strategy

Industry professionals comment on the recent disruption of the Hive ransomware operation and its hacking by law enforcement.

Management & Strategy

SecurityWeek examines how a layoff-induced influx of experienced professionals into the job seeker market is affecting or might affect, the skills gap and recruitment...

IoT Security

Lexmark warns of a remote code execution (RCE) vulnerability impacting over 120 printer models, for which PoC code has been published.

Management & Strategy

Tens of cybersecurity companies have announced cutting staff over the past year, in some cases significant portions of their global workforce.

Funding/M&A

Twenty-one cybersecurity-related M&A deals were announced in December 2022.

Funding/M&A

Tenable has launched a $25 million venture fund to place bets on early-stage startups in the exposure management space.

Cybersecurity Funding

Forward Networks, a company that provides network security and reliability solutions, has raised $50 million from several investors.