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Logging and Security Analytics Firm Devo Banks New $100 Million Investment

Devo Technology, a late-stage startup building technology for data logging and security analytics, has closed a new $100 million funding round that pushes its valuation in the $2 billion range.

Devo, based in Cambridge, Mass., said the Series F round was led by Eurazeo, a global investment firm with over $30 billion in assets under management.  Existing investors Insight Partners, Georgian, TCV, General Atlantic, Bessemer Venture Partners, Kibo Ventures also participated. 

The round brings the total capital raised to more than $500 million. The company said the new funding will fuel growth in new regions and verticals, speed up delivery of its “autonomous SOC” vision and fund potential acquisitions.

Devo has developed a platform that IT operations and security teams use to monitor and protect their organization. A wide range of cloud and on-premises data sources can be integrated into the platform, providing deep visibility that can be highly useful for threat detection, threat hunting and incident investigations.

The $100 million funding round follows Devo’s recent acquisition of Kognos and the launch of Devo Exchange, a community-based application marketplace for Devo customers and partners

“This round of funding allows us to deliver on the autonomous SOC through continued innovation of our technology, expand to more regions to serve more customers, and consider more M&A opportunities. We're thrilled to have instilled such confidence in our investors that they continue to support our innovation and the value we deliver to customers” said Devo chief executive Marc van Zadelhoff.

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Ryan Naraine is Editor-at-Large at SecurityWeek and host of the popular Security Conversations podcast series. Ryan is a veteran cybersecurity strategist who has built security engagement programs at major global brands, including Intel Corp., Bishop Fox and GReAT. He is a co-founder of Threatpost and the global SAS conference series. Ryan's past career as a security journalist included bylines at major technology publications including Ziff Davis eWEEK, CBS Interactive's ZDNet, PCMag and PC World. Ryan is a director of the Security Tinkerers non-profit, an advisor to early-stage entrepreneurs, and a regular speaker at security conferences around the world. Follow Ryan on Twitter @ryanaraine.