• Devo, a cloud-native logging and security analytics company, has raised USD 100 million in a Series F funding round led by Eurazeo with participation from existing investors including Insight Partners, General Atlantic, and Bessemer Venture Partners. The round values the company at USD 2 billion, an increase from the USD 1.5 billion sticker price achieved during its last raise in October 2021. Devo’s total funding now stands at more than USD 500 million.

• The funds will be used to accelerate its product innovation and delivery of its autonomous security operations center (SOC), invest in new M&A expansion, and fuel growth in new regions and verticals, primarily in the public sector and the APAC region (such as Australia, New Zealand, Singapore, Malaysia, and Indonesia).

<ul><li>The funding round comes on the heels of Devo’s acquisition of the threat detection and response startup Kognos.</ul>

• In 2021, Devo recorded nearly 100% growth in revenue and customer growth and surpassed an employee headcount of 500, which included 91 new hires in 2022 across North America, Europe, and APAC. Notable customers include Sonos, AT&T, Powerco, Unisys, Ivy Tech Community College, and Oklahoma University. The company expects to pursue an initial public offering (IPO) in the next 12 to 24 months. 60% of Devo’s US sales are generated through the channel and the company plans to grow its international market (outside North America) to 40% (from 20%) of its sales revenue within the next two years.