Devo Technology, a Cambridge MA-based cloud-native logging and security analytics company, raised $250 million in Series E funding at a valuation of $1.5 billion.
The round was led by TCV, with participation from General Atlantic and Eurazeo and existing investors Bessemer Venture Partners, Insight Partners, Georgian, and Kibo Ventures. In conjunction with the funding, Gopi Vaddi, General Partner at TCV, is joining the Devo Board of Directors along with Also joining the board is Gary Reiner, Operating Partner at General Atlantic.
The company intends to use the funds to grow across new regions and market verticals, and increase investment in channel expansion and product innovation.
Company: Devo Technology Inc
Raised: $250.0M
Round: Series E
Funding Month: October 2021
Lead Investors: TCV
Additional Investors: General Atlantic, Eurazeo, Bessemer Venture Partners, Insight Partners, Georgian, and Kibo Ventures
Company Website: http://www.devo.com/
Software Category: cloud-native logging and security analytics platform
About the Company: Led by CEO, Marc van Zadelhoff, Devo provides a cloud-native logging and security analytics platform that releases the potential of data to empower confident action. Building on the rapid adoption as the platform of choice for resellers and managed security services providers (MSSPs) across the globe, Devo is also recommitting to the channel, cloud, and integration partners. Customers include H&R Block, Manulife, FanDuel, Ulta Beauty, and AMEX Global Business Travel, among others. The company’s expansion plans include growth in new verticals and geographies including an expanded presence in the public sector, as well as internationally in the Asia-Pacific (APAC) region.
Source: https://www.finsmes.com/2021/10/devo-technologies-250m-in-series-e-funding.html