Aeris, a software-as-a-service (SaaS) company specializing in IoT connectivity, has secured funding from TA Associates to enhance its enterprise-focused offerings. While specific financial terms of the investment remain undisclosed, Aeris confirmed that TA Associates is acquiring a minority stake and will gain representation on the company’s board.
The investment is a significant move for both parties, as TA Associates aims to leverage Aeris’s established customer relationships and proven track record to strengthen its presence in the competitive IoT sector. According to Nick Leppla, a director at TA, and Jason Werlin, managing director, Aeris’s unique positioning and extensive experience in the industry were instrumental in their decision to invest.
Aeris CEO Aziz Benmalek stated that the company plans to utilize TA’s expertise to further its objectives, particularly in the domains of agentic AI and IoT security. The chair of Aeris, Marc Jones, described this investment as a “significant milestone,” highlighting its potential impact on the company’s growth trajectory.
Strategic Growth Plans and Market Focus
With over 30 years of experience in the IoT industry, Aeris provides services across various sectors, including utilities, energy, fleet management, medical devices, and manufacturing. The company manages nearly 100 million connected devices, among which 41 million are connected vehicles. This extensive network is supported by partnerships with approximately 7,000 enterprise customers and 30 mobile network operators.
Aeris plans to fortify its existing position in the enterprise IoT market by targeting strategic service providers and channel partners. This approach aims to enhance its service offerings and expand its market reach, capitalizing on the growing demand for IoT solutions.
In summary, the backing from TA Associates positions Aeris to accelerate its growth and innovation in the IoT landscape, setting the stage for future advancements and a stronger foothold in the industry.
