Devo raises $25M to help companies make sense of their data

June 8, 2018
devo
Photo via Devo

It was a big week for Devo, a Boston-based data operations company. Not only did the startup undergo a major rebrand, changing its name from “Logtrust” to “Devo,” but it also raised a cool $25 million Series C funding.

The round, which was led by Insight Venture Partners, will be used to invest in research and development, as well as to grow the company’s sales and marketing teams.

“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, in a statement.

Devo’s mission is to help organizations make better business decisions by leveraging its data operations platform, which offers analytics on streaming and historical data.

Devo’s platform is used across industries — from financial services and retail to manufacturing and telecommunications.

“Organizations are experiencing the evolution of data and the requirements for acting on it,” said CEO Walter Scott in a statement. “Today's digital economy requires businesses to advance their real-time operational analytics to keep pace with rapidly-changing market conditions and their customers.”

Devo helps organizations dig deep into their data from apps, operations, security, IoT and machines, helping them look for areas to improve efficiency and reduce operating costs.

“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,” Scott added.

Boston startup guides

LOCAL GUIDE
Your Guide to the Best Tech Companies to Work for in Boston
LOCAL GUIDE
Inside the Best Software Engineer Jobs in Boston
LOCAL GUIDE
Tour the Coolest Tech Offices in Boston
LOCAL GUIDE
Inside the Best Sales Jobs in Boston
LOCAL GUIDE
Your Guide to the Best Perks at Boston Tech Companies
LOCAL GUIDE
Your Guide to the Boston Startup Community
LOCAL GUIDE
Top Boston Startup Funding Rounds
LOCAL GUIDE
Your Guide to Edtech Tech in Boston
Developer Jobs
View 514 jobs
Design + UX Jobs
View 75 jobs
Marketing Jobs
View 124 jobs
Product Jobs
View 95 jobs
Sales Jobs
View 186 jobs
Data Jobs
View 81 jobs