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A strong signal from the Israeli startup ecosystem amidst the war. The next “Wiz” is lurking around the corner. 1.4. Billion USD evaluation. After 12 months. That is awesome. A new Israeli unicorn is born.
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The press release gives the facts: “Eon, the next-generation cloud backup platform, announced today that it has raised a $70 million Series C funding round led by BOND, growing its valuation to $1.4 billion. Several return investors joined the round, including Sequoia Capital, Greenoaks, and Lightspeed Venture Partners.
Eon’s novel cloud backup posture management platform transforms data backups from a manual and cumbersome process into a simple and automated solution, enabling enterprises to unlock the true potential of their backed-up data. Founded in January 2024, Eon has already filed dozens of patents for cloud storage and data management technologies and raised $200 million in funding.”
And the market of cloud and cloud technology is gigantic. By the end of 2024, the spending for cloud will reach globally a volume of 679 billion USD.
The Problem
Enterprises from every industry invest millions of dollars a year on cloud backups for both business and compliance needs.
Despite its importance, cloud backup operations remain a challenge, and currently, backups offer little tangible benefit or value.
Requiring error-prone manual work, companies regularly find themselves under or over-backed up. Even when backed up properly, backups remain difficult to access, manage, and operationalize, leaving enterprises in risky positions.
The Solution
Eon is the first backup platform for the age of cloud infrastructure. By creating a new tier of storage, it enables instant access to backed-up data, which until now has been a “black box.”
Eon’s platform eliminates manual backup tasks by autonomously scanning, mapping, and classifying cloud resources. At its core, Eon allows enterprises to finally control and utilize their backups, offering full visibility and seamless access to data whenever needed. Done.
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Make an independent pro Israel Blog possible. Donate 1.8 US-Dollar. Google Translate now integrated. You can access all articles in all the languages Google Translate offers for translation.
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based on the press release of the company EON. Selected as relevant/shortened/augmented by VonNaftali. Pic by AI. Symbolic.