Devo

Devo Technology sells a cloud-native security data platform positioned as a replacement for traditional SIEM tools. The platform integrates SIEM, SOAR and UEBA capabilities with AI and automation intended to support decision-making in a security operations center (SOC), and is described as ingesting any data source in any format without data transformations, with 400 days of "hot" data retention and sub-second query performance. Devo markets the platform as cloud-agnostic, able to manage data held in the cloud or on-premises, and offers a comprehensive API, prebuilt integrations, out-of-the-box detection content, streaming alerts and community-based threat intelligence.

Beyond security, Devo markets the same platform to IT organizations under "Devo for IT" for machine-data analytics, positioning itself as an augmentation to, rather than a replacement of, existing SIEM and monitoring stacks. Published IT use cases include unifying security and IT data alongside Datadog and Elastic deployments, custom fraud-investigation applications over terabytes of data with 400 days of searchable history, and consolidation of seven monitoring tools at a telecommunications company. Historically the company described itself as a cloud-native logging and security analytics vendor, and it has expanded into the autonomous SOC concept following its acquisition of AI-powered threat hunting company Kognos.

Supporting services include the Devo Learning Hub self-paced training and certification portal, the Devo Connect online customer community, migration and onboarding teams, a Trust Center covering privacy and security, Devo Content Stream (a content delivery service) and Devo Exchange (a community-based application marketplace for customers and partners). Devo SciSec, a team of security researchers and data scientists, was established in 2022 under then-CTO Gunter Ollmann.

Founding story

Devo was founded to address the migration of enterprise data and security analytics to the cloud; CEO Marc van Zadelhoff has credited Pedro Castillo and the founding team with building the platform for that transformation.

Business model

Devo sells its platform as a SaaS subscription. Licensing is described as all-inclusive and based on data ingestion volume, with no infrastructure management overhead for the customer, in contrast to index-based pricing models the company associates with legacy tools.

Subscription licensing of the SaaS security data platform, priced on data ingestion volume, with all-inclusive terms covering platform capabilities.

Traction

Company-published customer outcomes include 9x faster mean time to response and a 20% reduction in total cost of ownership, a 53x query-speed improvement at an apparel retailer, 30% MTTR reduction at an automotive retailer, 50% less time on manual workflows at a public university, migration in under two weeks at Bitkub Exchange, and 20,000 hours of investigation and triage time saved at the United States Air Force. At the time of the 2022 Series F, Devo reported nearly 100% annual revenue growth and nearly 100% customer growth for the year and more than 500 employees; the 2021 Series E cited nearly 100% year-over-year revenue growth, over 100% customer growth and more than 400 employees.

Latest developments

Devo's site highlights 2024 analyst recognitions (Gartner Magic Quadrant Visionary, IDC MarketScape Worldwide SIEM for Enterprise 2024, GigaOm SIEM Radar Report) and promotes an expanded positioning "beyond SIEM" toward IT operations, fraud investigation, quality of service and business intelligence use cases through the Devo for IT offering.