Overview

Afero provides solutions for connecting devices to the internet, known as the Internet of Things (IoT). Their technology allows both stationary and mobile devices to connect securely and efficiently. Afero's IoT platform simplifies the integration of IoT technology into products, making it easier for businesses to manage their devices remotely. A notable partnership with Home Depot has led to the development of the Hubspace Smart Home platform, which helps consumers manage smart home products like door locks and lighting controls. Afero also incorporates AI to enhance connectivity and security, allowing for better data analysis and decision-making. The company generates revenue from businesses using its platform and holds a significant number of IoT patents, which adds to its value. Afero aims to provide user-friendly and scalable IoT solutions for both businesses and consumers.

Simplify's Take

What believers are saying

• Partnership with Home Depot boosts Afero's presence in the smart home market.
• $50M Series C funding supports expansion and technological advancements.
• Growing demand for secure IoT platforms aligns with Afero's core strengths.

What critics are saying

• Emerging IoT platforms may erode Afero's market share.
• Potential security vulnerabilities in Bluetooth® Smart modules pose reputational risks.
• Dependence on key partnerships like Home Depot could impact stability if not renewed.

What makes Afero unique

• Afero's platform integrates secure Bluetooth® Smart modules for IoT connectivity.
• The company offers AI capabilities to enhance IoT data analysis and security.
• Afero holds the 5th largest IoT patent portfolio, strengthening its market position.

Help us improve and share your feedback! Did you find this helpful?

YesNo

Funding

Total Funding

$93.3M

Meets

Industry Average

Funded Over

3 Rounds

Notable Investors:

SoftBank

Notable Investors:

SoftBank

$50,000,000

Series C

Dec 2021

Series C funding is usually for startups that are doing well and are looking for more money to fuel major growth, such as acquiring other companies, expanding into global markets, or launching new product lines. Investors typically include larger venture capital firms and private equity.

Series C Funding Comparison

Meet Average

Industry standards

Ind Avg. $50M

$16M

$40M

$50M

$50M

$62M

$100M

View all funding stages