Devo Technology Gets $100 Million to Promote Autonomous SOC

Devo Technology Gets $100 Million to Promote Autonomous SOC

  • Technology
  • June 2, 2022
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  • 5 minutes read


The company has now raised more than $ 500 million in total capital.

Devo Technology has received $ 100 million in a round of funding, raising its valuation to $ 2 billion. The native cloud analytics and logging company has raised a total of more than $ 500 million.

Global investment firm Eurazeo led the final round of financing. Insight Partners, Georgian, TCV, General Atlantic, Bessemer Venture Partners and Kibo Ventures also participated. In addition, ISAI Cap Venture offered a strategic investment.

Funding comes after the acquisition by Devo of Kognos, the pioneer of AI-driven threat hunting. This marked a key step in delivering what Devo calls autonomous SOC: full visibility, automation, analysis, and open access to community experience and content. The autonomous SOC will integrate seamlessly with security and IT tools, the company said. It will allow SOC leaders to take advantage of automation such as AI and machine learning. Teams will respond and detect incidents quickly and effectively to resolve large-scale, cloud, and legacy infrastructure threats.

Face threats face to face

Marc van Zadelhoff of Devo

Marc van Zadelhoff of Devo

Marc van Zadelhoff is CEO of Devo.

“This round of funding allows us to offer the autonomous SOC through the continuous innovation of our technology, expand into more regions to serve more customers and consider more M&A opportunities,” said van Zadelhoff. “We are thrilled to have instilled so much confidence in our investors that they continue to support our innovation and the value we offer our customers.”

He said security teams are facing more threats than ever before. This adds to the difficulty of hiring and retaining talent. In addition, there is a lack of visibility over the entire attack surface and the speed and scale needed to keep up with the growing threats. The growth of the organizations behind these threats is also a concern.

Territorial expansion

Devo plans to double its commitment to recent expansions in Europe and Asia Pacific. It has also experienced substantial growth in Asia, including the addition of power provider Powerco and the implementation of an AWS environment in the region for customers and partners. In February, Devo announced that it had been designated as “In Progress” by the Federal Risk Management and Authorization Program (FedRAMP) and expects to reach full authorization in the fall of 2022.

William of Audiffret of Eurazeo

William of Audiffret of Eurazeo

Guillaume d’Audiffret is the CEO of Eurazeo and joins the Devo Council.

“Devo has proven to be a disruptive force in the security analysis market and we believe in its vision to fundamentally change the way organizations protect their data,” he said of Audiffret. “It is setting a pace of innovation that will enable its customers to meet the growing challenges facing security teams and look forward to continuing to work with Devo and other investors to further develop their market leadership.” .

Last year Devo launched Devo Drive, its first partner program for resellers, MSSPs and global system integrators. The program was launched with three levels for partners who want to sell Devo’s data logging and SIEM solutions.





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