SAN FRANCISCO — Eero Inc., creator of the first home WiFi system, has secured a $50 million round of growth funding led by Menlo Ventures with significant participation by Index Ventures. They join eero’s existing investors, First Round Capital, Shasta Ventures, Redpoint Ventures,Playground Global, and others, which also participated in the round, bringing the company’s total funding to over $90 million. The funding will be used to expand distribution, provide world-class customer support, and grow the team. Eero will also be available for the first time at a brick and mortar retailer, launching in over 500 Best Buy stores in the U.S. this summer and on BestBuy.com next week.
Eero blankets customers’ homes in fast, reliable WiFi. Instead of a single router, eero uses multiple access points placed throughout the home to create a wireless mesh network that covers every corner of every room. The eero system is simple to set up and easy to manage using the eero app, and over-the-air software updates give customers new features, performance improvements, and constantly improving security.
“Since we started shipping eero systems to customers earlier this year, we have been building on our momentum, scaling our infrastructure, and improving our software so we can support our growing customer base,” said Nick Weaver, eero founder and chief executive officer. “With this round of funding from leading investors, eero is well-positioned to provide a strong foundation for the connected home on an even larger scale.”
Pricing and Availability
The eero home WiFi system is available NOW 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. Customers can purchase the 3-pack, which is recommended for the average home, for a suggested retail price of $499, or a single eero for a suggested retail price of $199. The free eero app is available for download through the iOS App Store and Google Play Store.