Devo raises $250M Series E led by TCV at $1.5B valuation
Devo Technology, the cloud-native logging and security analytics company based in Cambridge, Massachusetts, announced on October 26, 2021 that it had raised $250 million in Series E funding led by TCV at a $1.5 billion valuation. New investors General Atlantic and Eurazeo joined existing investors Insight Partners, Georgian, Bessemer Venture Partners and Kibo Ventures, bringing Devo's total capital raised to more than $400 million. TCV general partner Gopi Vaddi and General Atlantic operating partner Gary Reiner joined the Devo board.
Devo sells a security analytics and enterprise logging platform built for large-scale, real-time data. The company said it would use the funds to expand into new regions and verticals, including the public sector and Asia-Pacific, and to invest in its channel, technology alliances and product. At the time it reported nearly 100% year-over-year revenue growth and more than 400 employees. TCV lists Devo as an active infrastructure software holding.
Devo, "Devo Announces $250 Million Funding Round Led by TCV", October 26, 2021
