Devo, a Cambridge, Massachusetts-based Cybersecurity provider, announced that it closed a $100 million funding round at a $2 billion valuation.
The investment was led by the Paris-based investment firm Eurazeo. All of Devo’s existing backers participated as well along with ISAI Cap Venture, a fund that makes startup investments on behalf of technology services giant Capgemini SE
The new round will enable the startup to accelerate growth initiatives. Devo plans to grow its presence in the Asia-Pacific region and the public sector. Additionally, Devo indicated that it may use some of the funding for acquisitions.
Company: Devo Technology Inc.
Funding Month: June 2022
Lead Investors: Eurazeo
Additional Investors: ISAI Cap Venture and behalf of technology services giant Capgemini SE
Company Website: https://www.devo.com/
Software Category: AI Powered Cybersecurity Platforms
About the Company: Devo provides a cybersecurity platform geared toward large enterprises. The platform continuously collects data about the cloud resources, software containers, and other assets in a company’s technology environment. Devo then uses machine learning to scan the collected information for signs of malicious activity. Devo is the only cloud-native logging and security analytics platform that releases the full potential of your data to empower bold, confident action. With unrivaled scale to collect all of your data without compromise, speed to give you immediate access and answers, and clarity to focus on the signals that matter most.