Allen & Overy is advising Eurazeo as the lead investor in a $100 million funding round to fuel Devo’s global expansion and acquisitions
28 June 2022
Allen & Overy is advising Eurazeo on a $100 Million Funding Round to Fuel Devo’s Global Expansion and Acquisitions. The funding round comes on the heels of Devo’s acquisition of Kognos, the AI-powered threat hunting pioneer, which marked a key step in delivering what Devo calls the autonomous SOC— complete visibility, automation, analytics, and open access to community expertise and content. The GlobalNewswire press release can be found here.
Devo is the only cloud-native logging and security analytics platform that releases the full potential of your data to empower bold, confident action. With unrivaled scale to collect all of your data without compromise, speed to give you immediate access and answers, and clarity to focus on the signals that matter most, Devo is your ally in protecting your organization
today and tomorrow. Headquartered in Cambridge, Massachusetts, with operations in North America, Europe and Asia-Pacific, Devo is backed by Insight Partners, Georgian, TCV, General Atlantic, Bessemer Venture Partners, Kibo Ventures and Eurazeo. Learn more at www.devo.com.
Eurazeo—a leading global investment firm with over $30 billion in assets under management—led the round, and all other existing investors—Insight Partners, Georgian, TCV, General Atlantic, Bessemer Venture Partners, Kibo Ventures—also participated. Additionally, ISAI Cap Venture provided a strategic investment in the round. The round brings the total capital raised to more than $500 million. The new funding will fuel growth in new regions and verticals, accelerate Devo’s delivery of the “autonomous SOC” and fund potential new M&A expansion.
The $100 million is a Series J funding at a valuation of $2 billion. The investment by Eurazeo resulted in Eurazeo holding 4.0% of the issued share capital and a board seat designated by Eurazeo.
The A&O Team
The deal team was led by San Francisco-based senior counsel Molly Holsinger (Corporate) and New York-based partners, Nick Marchica (M&A) and Brian Jebb (Employment and Benefits).
For further information regarding the transaction and our relationship with Eurazeo, please contact Nick Marchica.