Friday, July 19, 2024
HomeNewsDevo raises $100 million in Funding round led by Eurazeo

Devo raises $100 million in Funding round led by Eurazeo

This new funding has now increased Devo’s market valuation to over $2 billion.

Cloud-native login and security analytics services providing company Devo raises $100 million in its recently held series F funding round led by Eurazo. 

Several other investors, such as Insight Partners, General Atlantic, Bessemer Venture Partners, TCV, and others, also participated in Devo’s latest funding round. 

Devo plans to use the newly raised capital to drive development in new regions and verticals, to speed Devo’s delivery of the “autonomous SOC,” and to support possible future M&A expansion. This new funding has now increased Devo’s market valuation to over $2 billion. 

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CEO of Devo, Marc van Zadelhoff, said, “Security teams are facing more threats than ever—regardless of industry or geography—and that challenge is compounded by the difficulty of hiring and retaining talent, a lack of visibility into the full attack surface, and the speed and scale necessary to keep up with not just growing threats, but the growth of their organizations.” 

He further added that this round of investment enables them to deliver on the autonomous SOC through continuing technological innovation, to grow to other areas to service more clients, and to examine more M&A opportunities. 

Moreover, he is delighted to have instilled such trust in the company’s investors, who continue to support its innovation and the value it provides to customers. 

United States-based cybersecurity startup Devo was founded by Pedro Castillo in 2011. The company specializes in offering a cloud-native logging and security analytics platform that unlocks data’s full potential to enable bold, confident action. To date, Devo has raised nearly $500 million from multiple investors over seven funding rounds. 

According to Devo’s plan, it will continue to expand into new verticals and locations, focusing on the public sector and the Asia-Pacific (APAC) region.

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Dipayan Mitra
Dipayan Mitra
Dipayan is a news savvy writer, who does not leave a single page of news paper unturned. He is also a professional vocalist who enjoys ghazals. Building a dog shelter is his forever dream.


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