Cloud backup provider Eon has emerged from stealth mode, securing $127 million in funding as it aims to redefine the management of cloud backup systems. This next-generation startup is leveraging its expertise in cloud migration and disaster recovery to introduce innovative solutions in a rapidly growing market, where data security and management have become critical for organizations worldwide.
Founded by experienced entrepreneurs Ofer Ehrlich, Ziv Stein, and Avi Kimchi, Eon draws on its leadership’s extensive background in cloud technology. The founders previously built CloudEndure, a company acquired by Amazon Web Services (AWS) for $200 million, which specialized in cloud disaster recovery and migration. Eon continues in this vein, but with a broader focus that incorporates Cloud Backup Posture Management (CBPM) and cloud resource sprawl monitoring. These offerings are set to address the challenges organizations face with the growing complexity of cloud environments.
In less than a year, Eon has raised $127 million across three funding rounds, even before launching a fully-fledged product. Led by Sequoia Capital, Lightspeed Venture Partners, and Greenoaks Capital, the funding has been supported by notable investors including Omri Casspi’s Sheva. Despite operating with a team of only 36 employees, split between Israel and the U.S., Eon has generated significant investor interest, much like the high-profile success of Wiz, another Israeli cloud security startup.
Eon’s technology, according to its founders, seeks to address the ever-increasing challenge of cloud data sprawl and backup misconfigurations that leave businesses vulnerable. Ehrlich, who serves as Eon’s CEO, has emphasized the importance of helping organizations manage their backups more effectively, a crucial task given the rapid pace of cloud adoption and the risks associated with it.
The company has registered hundreds of patents related to cloud storage and backup technologies, with its founders ensuring a methodical approach to product development. The startup has attracted significant attention from enterprises, with more than 100 organizations already in discussions regarding Eon’s cloud backup solutions.
Operating from its dual hubs in Tel Aviv and New York, Eon’s development team is focused on creating scalable solutions that cater to businesses of various sizes. The startup’s founders are cautious about rapid growth, opting instead to keep their workforce small and focused, aiming to ensure quality control as the company prepares for a more comprehensive product launch.
