Three months after its most up-to-date financing spherical, buyers are urgent Israeli cloud backup firm Eon to embark on one other financing spherical that will raise the corporate’s valuation to $2.5 billion, sources have knowledgeable “Globes.”
Over the previous 12 months, the beforehand unknown Tel Aviv-based firm grew to become a sensation amongst Israeli tech buyers by rising with distinctive velocity and seeing its valuation climb from $215 million to $1.4 billion because it raised $200 million, in keeping with PitchBook, in three financing rounds together with $70 million on the finish of November 2024. The startup, which was based by a workforce of former AWS workers led by CEO Ofir Ehrlich, has developed a cloud information backup service and has efficiently attracted many purchasers from Amazon and raised the brand new firm’s income at a price the has justified its quickly rising valuation.
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Its earlier buyers together with Sequoia Capital, Eight Roads, Vine Ventures and serial investor Tilli Kalisky had been later joined by former NBA basketball star Omri Casspi, Lightspeed Ventures, Greenoaks, and Meron Capital. The latest financing spherical in November 2024 was led by Bond Capital, a San Francisco-based enterprise capital fund, which was based by Jay Simons, the previous president of software program big Atlassian, and has $3 billion below administration.
Aided by ransomware assaults
The corporate isn’t presently elevating cash, however sources across the firm should not ruling out a financing spherical later this 12 months.
Eon has grown as a result of huge enhance in ransomware assaults sabotage the big quantity of knowledge firms retailer of their many databases and belongings. Giant firms retailer most of their information in cloud companies akin to AWS, Microsoft Azure and Google Cloud, with a few of the info scattered amongst exterior functions and finish gadgets. Eon can again up all this organizational info with each change that’s made, in order that within the occasion of an assault, the knowledge will be absolutely restored. – a service that cloud giants like Amazon and Microsoft do not know the way to supply making Eon’s service highly regarded over the previous 12 months. The corporate has 55 workers and plans to double its measurement by the tip of the 12 months.
No touch upon this report has been forthcoming from Eon.
Revealed by Globes, Israel enterprise information – en.globes.co.il – on March 4, 2025.
© Copyright of Globes Writer Itonut (1983) Ltd., 2025.
