eero inc., a San Francisco, CA-based creator of a home WiFi system, raised $50m 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 by Nick Weaver, chief executive officer, 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. The system can be managed via an app, while over-the-air software updates add new features and performance and security improvements.
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. The system is available in the U.S. at eero.com, Amazon.com; next week at BestBuy.com; and starting this summer at Best Buy retail stores across the United States. The 3-pack, which is recommended for the average home, has a suggested retail cost of $499 while the single eero costs $199.
The is available for download through the iOS App Store and Google Play Store.