With Samsara IPO heading towards pricing, it’s a good time to dig a little more into the IoT market. As it turns out, there’s a lot more going on than just one of its players’ liquidity points.
Afero, for example, closed a $ 50 million Series C today led by Crosspoint Capital Partners. According to Crunchbase data, the new capital increase roughly equates to roughly all of the capital Afero raised prior to its last round, meaning the startup now has more cash to spend than ever before.
After being slightly surprised by how big Samsara’s own IoT-focused business had grown while we weren’t watching, TechCrunch brought in Afero’s CEO, Joe Britt and Hugh Thompson of Crosspoint to talk more about their business and why it’s this moment for had chosen an increase.
What is Afero doing?
Per Britt, when his team was putting Afero together, they found predictions that suggested the number of connected devices in the world would be on the order of …