Funding round
Devo Series D
Devo, which works in unified security data platform development in Boston, raised $60M in a Series D round announced on 15 Sep 2020, led by Georgian. 3 firms took part. It is Devo's third venture round on record; the one before was a Series C in Jun 2018.
$60M
Amount raised
Not disclosed
Post-money valuation
3
Investors
1 lead
Valuation
What this round says about the price
Devo did not disclose a valuation in this round. It came 27 months after Devo's Series C. It is 13% of the $470M Devo has raised in the venture rounds on record. Devo raised again 13 months later: a Series E round of $250M in Oct 2021, at $1.50B post-money.
Devo's funding rounds
Devo has 5 venture rounds on record. This one is highlighted.
Investors
Who put money in
Georgian led the round with 2 other firms.
Lead investor
- backs 54 venture-backed companies new investor
Also in the round
- Bessemer Venture Partners backs 412 venture-backed companies new investor
- Insight Partners backs 548 venture-backed companies new investor
Joined the board: Marc van Zadelhoff (Devo Technology), Justin LaFayette (Georgian) and Tom Schodorf (Devo Technology).
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
179 Series D rounds in Tech Companies within a year either side disclosed an amount; the median was $80M, and this round was 75% of the median. The closest in time, other companies' Series D rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Attentive Tech Companies | 23 Sep 2020 | $230M | $2.20B | Coatue |
| Snyk Tech Companies | 9 Sep 2020 | $200M | $2.60B | Addition |
| Tech Companies | 14 Sep 2020 | $185M | $2.58B | Thrive Capital |
| Tech Companies | 30 Sep 2020 | $102M | not disclosed | not named |
| Tech Companies | 24 Sep 2020 | $50M | not disclosed | Great Hill Partners |
| Gong Tech Companies | 12 Aug 2020 | $200M | $2.20B | Coatue |
| Tech Companies | 27 Oct 2020 | $125M | $1.00B | General Catalyst |
| Dataiku Tech Companies | 1 Aug 2020 | $100M | not disclosed | Stripes |
Sources
Where this comes from
Reported by 5 sources.
Questions
Frequently asked
How much did Devo raise in its Series D round?
Devo raised $60M in its Series D round, announced in Sep 2020.
Who led Devo's Series D round?
Georgian led it, with Bessemer Venture Partners and Insight Partners.
What was Devo's valuation at the Series D round?
It was not disclosed.
How does it compare with other Series D rounds in Tech Companies?
179 Series D rounds in Tech Companies within a year either side disclosed an amount; the median was $80M, and this round was 75% of the median.
Did Devo raise again after this round?
Yes: a Series E round in Oct 2021 of $250M at $1.50B post-money.