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 may carry the corporate’s valuation to $2.5 billion, sources have knowledgeable “Globes.”
Over the previous yr, 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 response to 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 staff 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 fee 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 newest 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 shouldn’t be presently elevating cash, however sources across the firm should not ruling out a financing spherical later this yr.
Eon has grown because of the huge improve in ransomware assaults sabotage the massive quantity of knowledge corporations retailer of their many databases and property. Massive corporations retailer most of their information in cloud companies equivalent to AWS, Microsoft Azure and Google Cloud, with among the data scattered amongst exterior functions and finish units. Eon can again up all this organizational data with each change that’s made, in order that within the occasion of an assault, the data might be totally restored. – a service that cloud giants like Amazon and Microsoft do not know how you can provide making Eon’s service very fashionable over the previous yr. The corporate has 55 staff and plans to double its measurement by the tip of the yr.
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.
