Funding round
Devo Series F
Devo, which works in unified security data platform development in Boston, raised $100M in a Series F round announced on 2 Jun 2022, led by Eurazeo, at a $2.00B post-money valuation. 8 firms took part, 7 of them already investors. It is Devo's fifth venture round on record; the one before was a Series E in Oct 2021.
$100M
Amount raised
$2.00B
Post-money valuation
8
Investors
1 lead
1.3x
Step-up from the Series E
$1.50B in Oct 2021
5.0%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Devo at $2.00B after the new money, 1.3 times the $1.50B of its Series E (Oct 2021). The $100M bought investors about 5.0% of the company. It came 8 months after Devo's Series E. It is 21% of the $470M Devo has raised in the venture rounds on record. No later venture round is on record for Devo.
Devo's funding rounds
Devo has 5 venture rounds on record. This one is highlighted.
Investors
Who put money in
Eurazeo led the round with 7 other firms. Eurazeo, Insight Partners, Georgian and Technology Crossover Ventures and 3 more had backed Devo before.
Lead investor
- Eurazeo backs 103 venture-backed companies existing investor
Also in the round
- Insight Partners backs 548 venture-backed companies existing investor
- backs 54 venture-backed companies existing investor
- Technology Crossover Ventures backs 86 venture-backed companies existing investor
- General Atlantic backs 134 venture-backed companies existing investor
- Bessemer Venture Partners backs 412 venture-backed companies existing investor
- backs 29 venture-backed companies existing investor
- ISAI Cap Venture new investor
Joined the board: Guillaume d'Audiffret (Eurazeo).
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations and acquisitions.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Acquisitions
Comparable rounds
How it compares
36 Series F rounds in Tech Companies within a year either side disclosed an amount; the median was $170M, and this round was 59% of the median. The closest in time, other companies' Series F rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 14 Jun 2022 | $83M | $1.10B | Silver Lake Waterman |
| Contentsquare Tech Companies | 21 Jul 2022 | $600M | $5.60B | Sixth Street |
| Chainalysis Tech Companies | 12 May 2022 | $170M | $8.60B | GIC |
| Motive Tech Companies | 25 May 2022 | $150M | $2.85B | Insight Partners and Kleiner Perkins |
| Salsify Tech Companies | 13 Apr 2022 | $200M | $2.00B | TPG |
| Bloomreach Tech Companies | 23 Feb 2022 | $175M | $2.20B | Goldman Sachs Asset Management and Goldman Sachs |
| Tech Companies | 27 Oct 2022 | $170M | $1.50B | Georgian |
| Tech Companies | 3 Oct 2022 | $146M | not disclosed | Goldman Sachs |
Sources
Where this comes from
Reported by 5 sources.
Questions
Frequently asked
How much did Devo raise in its Series F round?
Devo raised $100M in its Series F round, announced in Jun 2022.
Who led Devo's Series F round?
Eurazeo led it, with Insight Partners, Georgian, Technology Crossover Ventures, General Atlantic and Bessemer Venture Partners and 2 more.
What was Devo's valuation at the Series F round?
$2.00B post-money.
How does it compare with other Series F rounds in Tech Companies?
36 Series F rounds in Tech Companies within a year either side disclosed an amount; the median was $170M, and this round was 59% of the median.