DevRev Valuation, Funding & Investors

DevRev is valued at $1.1B as of August 2024.

Last DevRev valuation

$1.1B

Series A · Aug 2024

Last DevRev funding round

$101M

Series A · Aug 2024

Cumulative funding DevRev raised

$151M

across 2 funding rounds

Key investors in DevRev

  • Khosla Ventures
  • Mayfield Fund
  • Alumni Ventures
  • Bradley Horowitz
  • Firebolt Ventures
  • m]x[v

DevRev Overview

About DevRev

DevRev combines CRM and developer tools in a unified platform. Palo Alto, California-headquartered since 2020, the company serves thousands of SaaS firms with AI-driven customer support, analytics, and collaboration features. DevRev integrates with Jira, Slack, and GitHub, powering product-led growth for teams at companies like Samsung Next.


Founded

2020

HQ

United StatesSan Francisco, CA

Website

devrev.ai

Status

Privately held

Customer focus

B2B

Revenue model

Subscription

Valuation

$1.1B (Aug 2024)

DevRev Valuation

DevRev is currently valued at $1.1B, based on its Series A in August 2024.

The $101M round was led by Khosla Ventures, Mayfield Fund and Param Hansa Values.

DevRev valuation by funding round

DevRev valuation by funding round
DateStageValuation
Aug 2024Series A$1.1B

DevRev Funding History

DevRev has raised a total of $151M across 2 funding rounds.

DevRev's first fundraising round was a $50M seed round in July 2021. The most recent completed round was a $101M Series A in August 2024.

DevRev funding rounds

DevRev funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Aug 2024Series AKhosla Ventures (lead); Mayfield Fund (lead); Param Hansa Values (lead)$101M$1.1BDevRev is an AI-native platform headquartered in Palo Alto, California, that unifies customer support and product development workflows. Founded in October 2020 by Dheeraj Pandey, former CEO of Nutanix, and Manoj Agarwal, former SVP of Engineering at Nutanix, the company leverages a knowledge graph to power its AgentOS platform. This enables AI-driven solutions for streamlining customer service, product management, and developer-customer collaboration, positioning it as a key player in enterprise SaaS for customer-centric operations. On August 8, 2024, DevRev announced a $100.8 million Series A funding round, achieving a post-money valuation of $1.15 billion and unicorn status. The round was led by Khosla Ventures and Mayfield Fund, with participation from Dheeraj Pandey's family office, Param Hansa Values, and other investors including accelerators and family offices of tech CEOs and VCs. This funding accumulates investments over the past three years, bringing total capital raised to over $150 million, including a prior $50 million round in 2021. DevRev plans to use the proceeds to accelerate product development, expand its team, scale global operations across seven locations, and enhance its AI capabilities for real-time collaboration between developers, product managers, customer support, and end users. The platform is trusted by over a thousand customers, including leading SaaS companies and global financial institutions, with a focus on essentialism—less equals better—and high customer NPS. Investors highlighted DevRev's potential in the cognition-as-a-service era, with Vinod Khosla praising its integration of foundation models with enterprise architectures, and Mayfield's Navin Chaddha emphasizing its people-first approach and role in bridging customer-developer gaps through AI teammates.
Jul 2021SeedDheeraj Pandey (lead); Vijay Shankar; Firebolt Ventures; Bradley Horowitz; Khosla Ventures; Alumni Ventures; m]x[v; Mayfield Fund$50M-DevRev, an AI-native platform that unifies customer support and product development, was founded by Dheeraj Pandey (former Nutanix co-founder and CEO) and Manoj Agarwal. The company emerged from stealth mode on July 14, 2021, launching with $50 million in seed funding from investors including Mayfield Fund, Khosla Ventures, and other backers. The platform is built on a dev-centric CRM vision designed to bring developers closer to customers and revenue through APIs, design-first principles, and real-time collaboration capabilities. DevRev enables developers to connect their code to production issues and customer interactions in a unified experience, targeting product-led growth companies. The company subsequently achieved significant traction, growing to over a thousand customers within little over a year, including SaaS unicorns such as Uniphore and top-5 consumer banks. A Series A funding round in July 2024 valued the company at $1.15 billion with $100.8 million in new funding, demonstrating substantial growth from its seed stage origins.

Who has invested in DevRev?

9 investors have backed DevRev across its funding rounds, including Khosla Ventures, Mayfield Fund, Alumni Ventures, Bradley Horowitz, Firebolt Ventures and m]x[v.

Lead investors include Khosla Ventures, Mayfield Fund, Param Hansa Values and Dheeraj Pandey.


DevRev Investors

Investors in DevRev by funding rounds participated
InvestorHQRoundsRoleFirst check
Khosla VenturesUnited StatesSan Francisco, CA2LeadJul 2021
Mayfield FundUnited StatesUnited States2LeadJul 2021
Vijay ShankarAustraliaSydney1ParticipantJul 2021
Firebolt VenturesUnited StatesSan Francisco, CA1ParticipantJul 2021
Param Hansa ValuesUnited StatesTampa, FL1LeadAug 2024
Bradley HorowitzUnited StatesSan Francisco, CA1ParticipantJul 2021
Alumni VenturesUnited StatesUnited States1ParticipantJul 2021

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DevRev Competitors

DevRev competitors include listed companies like Intapp and CS Disco, and private ones like Genius AI, CarDekho, Enter and Torq.

Public and private companies comparable to DevRev
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Genius AIUnited StatesNew York City, NYPrivate--$1.1B-
CarDekhoIndiaGurgaonPrivate$299M-$1.2B4.0x
EnterBrazilSão PauloPrivate$10M-$1.2B120.0x
TorqIsraelTel AvivPrivate$24M-$1.2B-
IntappUnited StatesUnited StatesPublicly listed$578M($16M)$2.8B4.5x
CS DiscoUnited StatesUnited StatesPublicly listed$157M($44M)$273M1.0x

DevRev Public Comps

DevRev is still privately-owned, but its public comps include RWS Holdings, CS Disco, Hibino, Xp Industrial FII, GetBusy, Valtes Holdings, Dye & Durham, Intellinetics, Intapp and Topicus.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
RWS Holdings$927M($26M)0.7x0.7x(27.2x)4.8x
CS Disco$157M($44M)1.1x1.0x(4.0x)(22.1x)
Hibino$435M$60M0.6x0.6x4.3x-
Xp Industrial FII$9M-10.0x---
GetBusy$30M$2M2.1x2.0x35.2x32.5x
Valtes Holdings$77M$6M0.6x0.6x7.4x-
Dye & Durham$316M$116M3.0x3.3x8.2x7.1x
Intellinetics$17M($470K)1.4x1.4x(50.9x)-

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Common questions about DevRev

When was DevRev founded?DevRev was founded in 2020.
Where is DevRev headquartered?DevRev is headquartered in San Francisco, CA, United States.
Is DevRev publicly listed?No, DevRev is a private, VC-backed company.
What is DevRev's valuation?DevRev was last valued at $1.1B in its Series A in August 2024.
How much funding has DevRev raised?DevRev has raised $151M across 2 funding rounds.
What was DevRev's last funding round?DevRev's last funding round was a $101M Series A in August 2024, led by Khosla Ventures, Mayfield Fund and Param Hansa Values.
Who are DevRev's investors?DevRev's investors include Khosla Ventures, Mayfield Fund, Vijay Shankar, Firebolt Ventures, Param Hansa Values, Bradley Horowitz, Alumni Ventures, m]x[v and Dheeraj Pandey.
Which companies are comparable to DevRev?Companies comparable to DevRev include Genius AI, CarDekho, Enter, Torq, Intapp and CS Disco.

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