Devo raises a financing round of 100 million dollars

The cloud-native data analytics and security company recently announced that it has raised a $100 million Series F funding round, reaching a $2 billion valuation. Eurazeo, one of the main investment companies worldwide, has led this round, in which the rest of the existing investors have also participated: Insight Partners, Georgian, TCV, General Atlantic, Bessemer Venture Partners, and Kibo Ventures.

In addition, ISAI Cap Venture made a strategic investment in the round. Thanks to this new round – the total capital raised rises to more than 500 million dollars – it will boost growth in new regions and vertical sectors, accelerate the development of Devo’s “autonomous SOC” vision and finance potential new mergers and acquisitions.

The financing round comes after the acquisition of Kognos by Devo, a pioneer company in threat hunting autonomous powered by AI, which has been a key step in offering what Devo calls the “autonomous SOC”: complete visibility, automation, analysis and open access to the knowledge and content of the community.

«Security teams face more threats than ever before, regardless of industry or geography, and that challenge is compounded by the difficulty of recruiting and retaining talent, as well as a lack of visibility across the entire attack surface and the speed and scale required to keep up not only with rising threats, but also with the growth of their organizations,” declares Marc van Zadelhoff, CEO of Devo.

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“This round of financing allows us to supply the stand-alone SOC through continuous innovation of our technology, expand into more regions to serve more customers, and consider more merger and acquisition opportunities. We are very pleased to have inspired such confidence in our investors, who continue to support our innovation and the value we deliver to customers.”

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