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Home WiFi provider eero raises $50 million in Menlo-led funding

  • Region:

    California

  • Sector:

    Consumer Services

  • Deal Size:

    $50 million

  • Buy Side Company:

    Menlo Ventures, Index Ventures, Shasta Ventures, First Round Capital, Redpoint Ventures
  • Sell Side Company:

    eero Inc.
  • Target Company:

eero inc., a San Francisco, CA-based creator of a home WiFi system, raised $50 million in growth funding. The round was led by Menlo Ventures with participation from Index Ventures and existing investors First Round Capital, Shasta Ventures, Redpoint Ventures, Playground Global. In conjunction with the funding, Mark Siegel of Menlo Ventures, will join eero’s Board of Directors. The company, which has raised over $90m in total funding, intends to use the capital to expand distribution and grow the team. Founded in 2014, eero has developed and now offers a home WiFi system. Instead of a single router, eero uses multiple access points placed throughout home to create a wireless mesh network that covers every room. In addition to the funding, the company announced that Best Buy, a provider of technology products, services, and solutions, will feature eero in over 500 stores nationwide.

Tags:

VC Deals,VC Funding,Growth Funding,eero,home wifi system,Menlo Ventures,Index Ventures,First Round Capital,Shasta Ventures,Redpoint Ventures