Funding round
Devo Series B
Devo, which works in unified security data platform development in Boston, raised $35M in a Series B round announced on 28 Sep 2017, led by Insight Partners. 2 firms took part, 1 of them already investors. It is Devo's first venture round on record.
$35M
Amount raised
Not disclosed
Post-money valuation
2
Investors
1 lead
Valuation
What this round says about the price
Devo did not disclose a valuation in this round. It is Devo's first venture round on record, 6 years after it was founded in 2011. It is 7.4% of the $470M Devo has raised in the venture rounds on record. Devo raised again 9 months later: a Series C round of $25M in Jun 2018. Its next priced round, a Series E in Oct 2021, valued it at $1.50B.
Devo's funding rounds
Devo has 5 venture rounds on record. This one is highlighted.
Investors
Who put money in
Insight Partners led the round with 1 other firm. Kibo Ventures had backed Devo before.
Lead investor
- Insight Partners backs 548 venture-backed companies new investor
Also in the round
- backs 29 venture-backed companies existing investor
Joined the board: Jeff Horing (Insight Venture Partners).
Comparable rounds
How it compares
383 Series B rounds in Tech Companies within a year either side disclosed an amount; the median was $16M, and this round was 2.2 times the median. The closest in time, other companies' Series B rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 14 Sep 2017 | $42M | not disclosed | not named |
| Tech Companies | 26 Sep 2017 | $32M | not disclosed | General Catalyst |
| Tech Companies | 14 Sep 2017 | $31M | not disclosed | not named |
| Dataiku Tech Companies | 6 Sep 2017 | $28M | not disclosed | Battery Ventures |
| Tech Companies | 21 Sep 2017 | $27M | not disclosed | not named |
| Tech Companies | 26 Sep 2017 | $25M | not disclosed | Lightspeed Venture Partners |
| Tech Companies | 23 Sep 2017 | $25M | not disclosed | New Enterprise Associates |
| Tech Companies | 28 Sep 2017 | $22M | not disclosed | Lightspeed Venture Partners |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did Devo raise in its Series B round?
Devo raised $35M in its Series B round, announced in Sep 2017.
Who led Devo's Series B round?
Insight Partners led it, with Kibo Ventures.
What was Devo's valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Tech Companies?
383 Series B rounds in Tech Companies within a year either side disclosed an amount; the median was $16M, and this round was 2.2 times the median.
Did Devo raise again after this round?
Yes: a Series C round in Jun 2018 of $25M.