Israeli cloud backup solution developer Eon has announced its launch from stealth, and the completion of a $77 million Series B financing round led by Greenoaks with participation from Quiet Ventures.
Since its founding in January 2024 by CEO Ofir Ehrlich, Gonen Stein, and Ron Kimchi, Eon has secured three rounds of funding: a $20 million seed round led by Sequoia Capital with participation from Vine Ventures, Meron Capital, and Eight Roads, a $30 million Series A round led by Lightspeed Venture Partners and participation from Sheva, with the latest round bringing the total amount raised to $127 million.
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Eon has developed a backup autopilot for cloud infrastructures, which monitors cloud resource sprawl and brings cloud backup posture management (CBPM) to enterprises. The company replaces legacy backup tools and generic snapshots, transforming backups into useful, easy-to-manage assets.
Eon’s founders previously established CloudEndure, which was acquired by Amazon in 2019 for $250 million, and they built and led the disaster recovery and cloud migration services at AWS. Their experience working with the biggest companies revealed a glaring hole in the cloud infrastructure backup and recovery market, leading to the creation of Eon.
Ehrlich said, “Eon has reimagined what backups can be for enterprises by introducing a new era of cloud backup storage and management. We are fortunate to have supportive funding partners who deeply understand the value of unlocking cloud backups to be truly automated, globally searchable, portable, and useful”.
Eon autonomously scans, maps, and classifies cloud resources continuously, providing backup recommendations based on business and compliance needs, and ensuring the appropriate backup policy is in use. Existing solutions rely on snapshots, which are non-searchable black boxes, which require full restores, and are vendor-locked. In contrast, Eon’s next-generation backup storage is fully managed, portable, and provides global search capabilities. This enables customers to find and restore individual files and run SQL queries on backed-up database snapshots seamlessly, without any resource provisioning.
Published by Globes, Israel business news – en.globes.co.il – on October 1, 2024.
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