Devo joined the Unicorn Club on October 26, 2021, after raising a $250 million Series E funding round led by TCV, valuing the company at approximately $1.5 billion. Headquartered in Cambridge, Massachusetts, United States, Devo provides a cloud-native visual data analytics platform that enables enterprises to collect real-time streaming data from applications, infrastructure, and IoT devices, correlate logs, generate insights, and support security operations and business teams. The company has raised over $500 million to date and employs between 201 and 500 people (as of July 1, 2024).
Keep reading to discover how Devo is driving the next wave of enterprise analytics by unifying logging, security and operational data into one platform.
What Is Devo and What Does It Do?
Founded in 2011, Devo offers a cloud‑native analytics and logging platform designed for high‑scale enterprise environments. Its functionality spans real‑time data ingestion, visual dashboards, analytics of security and business signals, and correlation of historical and streaming data across domains.
Devo enables organisations to map infrastructure and assets, monitor logs, detect threats, analyse trends and generate reports, helping to turn raw data into actionable intelligence for SOCs, IT operations and analytics teams.
How Much Funding Has Devo Raised?
- Series E
- Amount Raised: $250 M
- Date: October 26, 2021
- Lead Investor: TCV
- Valuation: $1.5 B
- Purpose: Scale cloud analytics platform, expand global presence, and invest in channel and product innovation.
- Series F or Later Extension
- Amount Raised: ~$100 M (per secondary / later‑round reports)
- Date: June 2, 2022 (reported)
- Valuation: ~$1.9 B (reported later)
- Purpose: Further scaling, global expansion and continued product enhancements.
Total Funding Raised: >$500 M
Latest Funding Date: June 2, 2022
Latest Valuation: ~$1.9 B
Employee Count: 201‑500 (as of July 1, 2024)
Key Investors
- TCV
- Details: Leading growth‑stage venture capital firm with a strong track record in scaling software and analytics companies.
- Focus Areas: Enterprise SaaS, data infrastructure and large‑scale growth companies.
- General Atlantic
- Details: Global growth equity investor participating in the Series E and supporting Devo’s expansion.
- Focus Areas: Technology growth, cloud computing and digital infrastructure.
- Insight Partners
- Details: Private equity and venture firm known for investing in successful software companies; an existing backer of Devo.
- Focus Areas: Scale‑up software, analytics, security and enterprise platforms.
Where Is Devo’s Headquarters?
Devo is headquartered in Cambridge, Massachusetts, United States. The headquarters acts as the company’s core hub for engineering, research & development, and global operations.
What’s Next for Devo?
Devo plans to expand its global enterprise footprint, particularly in new geographies and industry verticals, including the public sector and the APAC region. Its roadmap includes enhancing its cloud analytics platform with advanced AI/ML features, expanding SOC ecosystem integrations, and scaling channel partnerships to support faster, data-driven decision-making. With backing from major investors and a robust platform, Devo is poised to continue its enterprise growth trajectory.
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