Attributes 775% Revenue Growth to the Accelerating Demand for Enterprises to Maximize the Value of Their Machine Data
Cambridge, Mass, November 7, 2019 — Devo Technology, the data analytics company that unlocks the full value of machine data for the world’s most instrumented enterprises, today announced it ranked #151 on Deloitte’s Technology Fast 500™, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences and energy tech companies in North America, now in its 25th year. Devo grew 775% during this period.
Walter Scott, Devo chief executive officer, credits the company’s exceptional revenue growth with the need for enterprises to take a data- and automation-driven approach to cyber security and IT operations and the lack of existing solutions that can meet these demands at scale. He said, “With the accelerating pace of digital transformation and the shift to cloud, operational teams must change the way they use data, automation and analytics to secure and optimize their customers’ data and digital experiences. Devo delivers this value to many of the world’s largest organizations.”
“This year marks the 25th anniversary of Deloitte’s Technology Fast 500, so we are especially pleased to announce and congratulate the 2019 winners,” said Sandra Shirai, vice chairman, Deloitte LLP, and U.S. technology, media and telecommunications leader. “Once again, we saw innovation across the board, with software companies continuing their dominance of the top ten. It’s always inspiring to see how the Fast 500 companies are transforming business and the world we live and work in.”
“As technology innovation trends towards ‘everything as a service,’ it’s no surprise that software companies dominate the winners list yet again this year,” said Mohana Dissanayake, partner, Deloitte & Touche LLP, and industry leader for technology, media and telecommunications, within Deloitte’s audit and assurance practice. “What’s exciting about celebrating 25 years of the Tech Fast 500 is we now have a quarter century of innovation stories to draw and reflect upon. These are the companies that push boundaries, help organizations become more efficient and productive, and ultimately enable businesses to drive growth and revenue. We congratulate all the well-deserving winners.”
About Deloitte’s 2019 Technology Fast 500™
Now in its 25th year, Deloitte’s Technology Fast 500 provides a ranking of the fastest growing technology, media, telecommunications, life sciences and energy tech companies — both public and private — in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2015 to 2018.
In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company’s operating revenues. Companies must have base-year operating revenues of at least $US50,000, and current-year operating revenues of at least $US5 million. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.
Devo unlocks the full value of machine data for the world’s most instrumented enterprises, putting more data to work now. Only the Devo data analytics platform addresses both the explosion in volume of machine data and the new, crushing demands of algorithms and automation, enabling IT operations and security teams to realize the full transformational promise of machine data to move the business forward. Devo is a privately held company based in Cambridge, MA and is backed by Insight Partners. Visit devo.com to learn more.
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