Dynatrace acquires DevCycle

JANUARY 14, 2026

Dynatrace acquires DevCycle

TARGET

OpenFeature-native feature flag management platform enabling developer teams to safely control and gradually roll out software features.

Ownership	VC-backed
Investors	Y Combinator, Initialized Capital, CIBC Innovation Banking, Spider Capital Partners, ACE & Company (ACE Ventures), Creative Destruction Lab +1 more
Capital raised	$11.4M
Headcount	11-50 FTEs
Headquarters	Toronto, Canada
Leadership	Andrew Norris, Co-Founder & CEO
Sell-side advisor	—

ACQUIRER

Dynatrace

Observability and application performance monitoring software company.

Ownership	Publicly traded (NYSE:DT)
Headcount	5,200 FTEs
Headquarters	Boston, Massachusetts
Leadership	Rick McConnell, Chief Executive Officer Alois Reitbauer, Chief Technology Strategist
Buy-side advisor	—

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Dynatrace -> DevCycle  (2026-09-11)
strategic_acquisition | DevTools/Infrastructure | announced
Target: OpenFeature-native feature flag management platform enabling developer teams to safely control and gradually roll out software features.
Website: devcycle.com | Buyer site: dynatrace.com
HQ: Toronto, Canada | Ownership: vc-backed | Buyer ownership: public (NYSE:DT)
Advisors - not yet credited
Source: Thematic - https://thematichq.com/software/d/dynatrace-devcycle.html

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