Funding round
Devo Series C
Devo, which works in unified security data platform development in Boston, raised $25M in a Series C round announced on 7 Jun 2018, led by Insight Partners. 2 firms took part. It is Devo's second venture round on record; the one before was a Series B in Sep 2017.
$25M
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 came 9 months after Devo's Series B. It is 5.3% of the $470M Devo has raised in the venture rounds on record. Devo raised again 27 months later: a Series D round of $60M in Sep 2020. 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.
Lead investor
- Insight Partners backs 548 venture-backed companies new investor
Also in the round
- backs 29 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, sales and marketing, scaling operations and working capital.
- Product development
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
213 Series C rounds in Tech Companies within a year either side disclosed an amount; the median was $35M, and this round was 71% of the median. The closest in time, other companies' Series C rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Ant Group Tech Companies | 11 Jun 2018 | $14.00B | $150.00B | not named |
| Tech Companies | 6 Jun 2018 | $70M | not disclosed | Georgian |
| Pipedrive Tech Companies | 14 Jun 2018 | $50M | not disclosed | Insight Partners and Bessemer Venture Partners |
| Tech Companies | 26 Jun 2018 | $25M | not disclosed | Energize Capital |
| Tech Companies | 20 Jun 2018 | $19M | not disclosed | Insight Partners |
| Gusto Tech Companies | 31 Jul 2018 | $140M | $2.00B | T. Rowe Price Associates and MSD Capital |
| Tech Companies | 11 May 2018 | $100M | not disclosed | China Electronics Health Fund |
| Tech Companies | 9 May 2018 | $55M | not disclosed | Temasek |
Sources
Where this comes from
Reported by 2 sources.
Questions
Frequently asked
How much did Devo raise in its Series C round?
Devo raised $25M in its Series C round, announced in Jun 2018.
Who led Devo's Series C round?
Insight Partners led it, with Kibo Ventures.
What was Devo's valuation at the Series C round?
It was not disclosed.
How does it compare with other Series C rounds in Tech Companies?
213 Series C rounds in Tech Companies within a year either side disclosed an amount; the median was $35M, and this round was 71% of the median.
Did Devo raise again after this round?
Yes: a Series D round in Sep 2020 of $60M.