New Funding & New CEO - Q&A with Marc van Zadelhoff, CEO of Devo
VentureFizz: Congrats on joining Devo as its new CEO! Can you share the details on your professional history before joining the company?
Marc van Zadelhoff: Thank you! I’m really excited to get started. I think my background thus far in my career has been preparing me for this exact role at another one of Greater Boston’s fast-growing technology startups. I most recently was the chief operating officer at LogMeIn. Before that, I co-founded and led IBM Security. I was in that role for more than ten years.
VF: Can you share the details on Devo Technology and how its technology is helping your customers?
MV: My predecessor, Walter Scott—who’s now our Chairman of the Board—did an amazing job of building an exceptional customer base and solidifying Devo’s competitive advantage. Customers love Devo because organizations implementing security analytics and log management platforms no longer have to make compromises on speed, or struggle with scalability limitations or price constraints. Devo is cloud native, affordable, scalable, cloud agnostic and fast as hell. With the cloud-native Devo Data Analytics Platform, IT and security teams are able to go beyond legacy log management solutions to keep pace with the relentless real-time demands of the exploding data volumes that all of us that have been in tech for a while are acutely aware of.
VF: What was it about the company that prompted you to join?
MV: Devo is going to be a company for the history books. I saw that when I joined the board last month and am thrilled to now be an even bigger part of it as CEO. Aside from performing well financially as we saw in Q2 record revenue growth, our customers love Devo. We’re true partners and what Devo does for them makes a real difference. It’s rare to see such a combination of a talented, likable team and advanced, innovative technology, and it was an opportunity I couldn’t pass up.
VF: Devo Technology recently closed a $60M Series D round of funding. Can you share the details on the round and growth plans ahead?
MV: The round was led by Georgian, and Bessemer Venture Partners and Insight Partners also participated. With this new funding, Devo will continue to invest in the company’s rapid growth in the cybersecurity market, expanding R&D, sales, support, marketing, and partnerships. Also, our fast-growing global presence has Devo represented across the U.S., UK, and Spain, and with this new investment comes new opportunities to increase our global footprint.
VF: What’s your plan for hiring throughout 2020 and next year?
MV: One of the things I’m most excited about with Devo is the talent we’re planning to hire. Devo currently has more than 240 employees and we plan to hire an additional 25% before the end of the year and then most likely another 25% next year, but that number could go higher.