Devo Announces $25 Million Funding Round
BOSTON, June 7, 2018 — Devo, a data operations company, today announced a $25 million Series C funding round led by Insight Venture Partners with participation from Kibo Ventures. This new funding and rebrand follows a momentous year for the company, formerly known as Logtrust, marked by rapid growth and market expansion.
“Organizations are experiencing the evolution of data and the requirements for acting on it,” said Walter Scott, CEO, Devo. “Today’s digital economy requires businesses to advance their real-time operational analytics to keep pace with rapidly-changing market conditions and their customers. With a more scalable, cost-effective and complete approach for solving the often-crippling challenges presented by the massive growth of machine data, Devo empowers large enterprises to extract greater value from their operational data.”
“Supporting the world’s largest organizations in their efforts to collect and analyze hundreds of terabytes of data every day requires significant research and development resources,” said Pedro Castillo, founder and CTO, Devo. “Today’s funding bolsters our commitment to continuous innovation, enabling us to increase investment in our research and development, sales, and marketing teams.”
Devo, formerly Logtrust, is a leading Data Operations Platform for the digital enterprise. Devo delivers real-time business value from analytics on streaming and historical data to help Fortune 1000 enterprises drive sustained performance and growth. The Devo Data Operations Platform collects, enhances and analyzes machine, business and operational data from across the enterprise. Devo provides real-time analytics and insight for IT operations, security analytics, business analytics, customer insight and log management for the world’s leading organizations. For more information visit www.devo.com.
About Insight Venture Partners
Insight Venture Partners is a leading global venture capital and private equity firm investing in high-growth technology and software companies that are driving transformative change in their industries. Founded in 1995, Insight has raised more than $18 billion and invested in over 300 companies worldwide. Our mission is to find, fund and work successfully with visionary executives, providing them with practical, hands-on growth expertise to foster long-term success. Across our people and our portfolio, we encourage a culture around a core belief: growth equals opportunity. For more information on Insight and all its investments, visit www.insightpartners.com or follow us on Twitter @insightpartners.