Ropes & Gray advised Crosspoint Capital Partners in leading a $50 million Series C investment in Afero, a leading provider of Internet of Things Platform as a Service focused on solutions to provide secure connectivity to IoT devices. The Home Depot also participated in the investment. The transaction was announced on December 8.
Crosspoint Capital Partners is a private equity firm focused on the cybersecurity, privacy and infrastructure software markets.
Afero’s software enables secure communication across devices such as smart home products ranging from light bulbs to connected thermostats. The platform also provides secure cloud communication between the device and the company’s hosted cloud services.
The Ropes & Gray team was led by venture capital & emerging companies partner Brad Flint and associates Joe Muller and Alexandra Charron and included IP transactions partners Regina Sam Penti and Ed Black (all of Boston).
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