eero's story begins in 2014, when Nick and Alex, two friends and tech enthusiasts, decided to create a smart home Wi-Fi system that was easy to set up and use.
They started by raising $2.9 million in seed funding from investors, which helped them develop their initial product.
The first eero device was launched in 2015, and it quickly gained popularity for its seamless mesh networking technology and user-friendly interface.
In 2017, eero raised an additional $40 million in funding, bringing its total funding to $62 million.
This influx of capital helped the company expand its product line and improve its existing technology.
The eero system became a top choice for many homeowners, known for its reliability and ease of use.
Amazon acquired eero in 2019 for a reported $97 million, bringing the eero brand under its umbrella.
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Acquisition and Growth
Amazon's acquisition of eero in 2019 marked a significant milestone in the company's history. Eero was founded in 2014 by Nick Weaver, Amos Schallich, and Nate Hardison.
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The founders' goal was to make Wi-Fi simpler, more accessible, and more reliable across many rooms in a house. A single eero device costs $199 and provides coverage for up to 1,500 square feet.
In its early days, eero pre-sold $2.5 million worth of products in just two weeks. This rapid growth demonstrates the demand for eero's innovative products.
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Funding and Investors
In 2014, eero secured its first funding round, marking the beginning of its journey to growth and acquisition.
The company has raised a total of $90M over 4 funding rounds.
eero's institutional investors include Menlo Ventures, TriplePoint Capital, and Redpoint Ventures, among 15 others.
Jeff Schox is the sole angel investor in eero.
Here's a breakdown of eero's funding rounds:
Amazon Acquires Smart Home Router Maker
Amazon has made another significant move into the smart home market by acquiring Eero, a company that specializes in making smart home Internet routers. Eero was founded in 2014 by Nick Weaver, Amos Schallich, and Nate Hardison.
Eero's devices can provide coverage for up to 1,500 square feet and sell for $199. Customers can also purchase additional "beacon" devices for another room for $149 or a bundle of a router and a beacon for $299.
Eero pre-sold $2.5 million worth of products in its first two weeks, showing the company's potential for growth. By joining Amazon, Eero's mission to make home technology work seamlessly is likely to be accelerated.
Dave Limp, senior vice president of Amazon devices and services, shares Eero's vision for a smoother smart home experience.
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Continuous Improvement
Continuous Improvement is a game-changer in the networking space. Eero has pioneered this concept, modeled after what Tesla has done for cars.
Continuous improvement means that the product you buy today is not the same as the one you'll have tomorrow. Eero's software is upgraded 19 times, even for customers who've been using the system since February.
This means that your eero system will stay up-to-date with the latest in WiFi security. You'll always know your network is safe.
Eero's continuous improvement has led to features like Family Profiles, user-initiated updates, a custom Alexa skill, and even TrueMesh.
Frequently Asked Questions
Who founded eero?
eero was founded by Nick Weaver, a lifelong technology enthusiast.
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