(Reuters) – Plume, a technology company that is helping improve WiFi and internet security at home by bringing everything from coffee makers to doorbells online, announced Tuesday that it had acquired $ 270 million from private equity firm Insight Partners, who valued the company at $ 1.35 billion.
Plume’s technology is found in over 22 million households around the world. The service is offered by communication service providers like Comcast, co-founder and managing director Fahri Diner opposite Reuters.
He said communications service providers are using Silicon Valley’s Plume to enhance the internet experience at home – from parental control tools to extending WiFi range at home to cybersecurity on connected devices.
“Business was doing well before COVID as home connectivity, security, parental controls, etc. are kind of bread and butter for many people,” Diner said.
“Because of COVID, you now have a lot of knowledge workers … billions and billions of individual offices where …