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 yr, the beforehand unknown Tel Aviv-based firm turned 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 line with PitchBook, in three financing rounds together with $70 million on the finish of November 2024. The startup, which was based by a group of former AWS workers led by CEO Ofir Ehrlich, has developed a cloud knowledge backup service and has efficiently attracted many shoppers from Amazon and raised the brand new firm’s income at a charge 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 large Atlassian, and has $3 billion beneath administration.
Aided by ransomware assaults
The corporate isn’t presently elevating cash, however sources across the firm usually are not ruling out a financing spherical later this yr.
Eon has grown as a result of large improve in ransomware assaults sabotage the big quantity of data corporations retailer of their many databases and property. Massive corporations retailer most of their knowledge in cloud providers resembling AWS, Microsoft Azure and Google Cloud, with a few of the data scattered amongst exterior functions and finish gadgets. 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 absolutely restored. – a service that cloud giants like Amazon and Microsoft do not know the way to provide making Eon’s service very talked-about over the previous yr. The corporate has 55 workers and plans to double its dimension by the top 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.
