Aeris, a software-as-a-service (SaaS) company specializing in Internet of Things (IoT) connectivity, has secured investment from TA Associates. This funding aims to further develop Aeris’ products targeted at enterprise clients. While the financial details of the deal remain undisclosed, Aeris confirmed that TA Associates will take a minority stake and join its board.
TA Associates’ director, Nick Leppla, and managing director, Jason Werlin, indicated that Aeris’ robust customer relationships and proven track record were significant factors in their decision to invest. The partnership is expected to bolster Aeris’ presence in the competitive IoT sector.
Aziz Benmalek, CEO and director of Aeris, expressed optimism about leveraging TA’s expertise to advance initiatives related to agentic AI and IoT security. The chair of Aeris, Marc Jones, described the investment as a “significant milestone” for the company.
Aeris plans to reinforce its existing position within the enterprise IoT sector, focusing on strategic service providers and channel partners. With over 30 years of experience in the IoT industry, the company has provided valuable services to various sectors, including utilities, energy, fleet management, medical devices, and manufacturing.
According to Aeris, its products currently manage nearly 100 million connected devices, which includes 41 million connected vehicles. This impressive figure is achieved through partnerships with 7,000 enterprise customers and 30 mobile network operators. The investment from TA Associates is expected to help Aeris capitalize on its established capabilities and grow its influence in the ever-evolving IoT landscape.
This funding marks a crucial step for Aeris as it aims to enhance its offerings and expand its market share in an industry characterized by rapid technological advancements and increasing demand for IoT solutions. The collaboration with TA Associates is poised to unlock new opportunities for innovation and development within the enterprise connectivity space.
