Crosspoint Capital led a $50m Series C funding round in Afero.

Crosspoint Capital, a private equity firm, led a $50m Series C funding round in Afero, a provider of turnkey internet of things platform as a service solutions. "We're excited to support Afero at a critical point in the Company's growth given the profound market demand for connected devices. Repurposing and reducing traditional operating systems such as Linux is not a viable path to support the wide range of IoT devices that consumers and businesses want to buy. Afero offers a purpose-built end-to-end platform that allows developers to quickly and elegantly deploy connectivity, cloud-based management and mobile app control with security at the core of their architecture. Crosspoint is thrilled to partner with the Afero team who have decades of proven execution in integrating usability, security and connectivity into a diverse set of devices," Hugh Thompson, Crosspoint Capital Managing Partner.