Security analytics firm Devo Technology valued at $1.5 bln after latest funding – Reuters

Oct 26 (Reuters) – Devo Technology, a security analytics company, said on Tuesday it has raised $250 million at a valuation of $1.5 billion in a funding round led by Silicon Valley venture capital firm TCV.
Devo said it will use the capital raised to enter new markets. The Series E round, which brings the total funds raised by the company to over $400 million, also drew investments from General Atlantic, Eurazeo, Bessemer Venture Partners and Insight Partners, among others.
With companies ramping up their digital footprint, and with the shift to hybrid working, cyber security has become one of the major areas of interest for venture capital firms.
Snyk and Illumio are other companies from the sector that have raised capital at high valuations in recent months.
Goppi Vaddi, general partner at TCV and Gary Reiner, operating partner at General Atlantic will join Devo's board, the company said.
Our Standards: The Thomson Reuters Trust Principles.
Subscribe for our daily curated newsletter to receive the latest exclusive Reuters coverage delivered to your inbox.
Reuters, the news and media division of Thomson Reuters, is the world’s largest multimedia news provider, reaching billions of people worldwide every day. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers.
Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology.
The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs.
The industry leader for online information for tax, accounting and finance professionals.
Information, analytics and exclusive news on financial markets – delivered in an intuitive desktop and mobile interface.
Access to real-time, reference, and non-real time data in the cloud to power your enterprise.
Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks.
All quotes delayed a minimum of 15 minutes. See here for a complete list of exchanges and delays.
© 2021 Reuters. All rights reserved

source