Plume, a technology firm that helps improve home WiFi and internet security as everything from coffee machines to door bells go online, said on Tuesday it had raised $270 million from private equity firm Insight Partners, valuing the company at $1.35 billion.
Plume’s technology is in over 22 million households around the world, and the service is offered through communications service providers like Comcast, co-founder and Chief Executive Fahri Diner told Reuters.
He said communication service providers use Silicon Valley-based Plume to help improve the home internet experience – from tools for parental control to expanding WiFi range in the home to cyber security of connected devices.
“Business was good even before COVID because in-home connectivity, security, parental controls and so on is sort of bread and butter for a lot of people,” Diner said.
Source: WTVB
By By Jane Lanhee Lee
Can't stop reading? This and all news articles are property of their creators, many are not owned or provided by Private Equity Insider. As an event organizer and community platform, we curate content from reliable sources for your suggested reading, and advise you to read the full articles from the referenced authors and sources.