Israeli cloud backup co Eon raises $77m

Israeli cloud backup solutions developer Eternity It discreetly announced its launch, completing a $77 million Series B funding round led by Greenoaks with participation from Quiet Ventures.

Since its founding in January 2024 by CEOs Ofir Erlich, Gonen Stein, and Ron Kimchi, Eon has raised three rounds of funding: a $20 million seed round led by Sequoia Capital with participation from Vine Ventures, Meron Capital, and Eight Roads, at $30 . A Series A round led by Lightspeed Venture Partners and participation from Sheva, with the latest round reaching $127 million.

Eon has developed a backup autopilot for cloud infrastructures, which monitors the deployment of cloud resources and provides cloud backup posture management (CBPM) for enterprises. The company replaces outdated backup tools and generic snapshots, turning backups into useful, easy-to-manage assets.

Eon’s founders previously founded CloudEndure, which Amazon acquired in 2019 for $250 million, and built and managed disaster recovery and cloud migration services on AWS. Their experience working with the largest companies revealed a significant gap in the cloud infrastructure backup and recovery market, which led to the creation of Eon.

“Eon has reimagined what enterprise backup can be by introducing a new era of cloud backup storage and management,” Ehrlich said. “We are fortunate to have supportive funding partners who deeply understand the value of opening up cloud backups to be truly automated and globally searchable.” Portable and useful.

Eon independently scans, maps, and categorizes cloud resources on an ongoing basis, makes backup recommendations based on business and compliance needs, and ensures the appropriate backup policy is used. Existing solutions rely on snapshots, which are black boxes that are not searchable, require full restores, and are vendor-limited. In contrast, Eon’s next generation backup storage is fully managed, portable, and offers global search capabilities. This allows customers to find and restore individual files and run SQL queries on the backed up database snapshots seamlessly, without any resource savings.

Published by Globes, Israel Business News – en.globes.co.il – on October 1, 2024.

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