Eon, a cutting-edge cloud backup platform, has raised $70 million in a Series C funding round led by BOND, with additional backing from Sequoia Capital, Greenoaks, and Lightspeed Venture Partners. This new investment boosts Eon’s valuation to an impressive $1.4 billion, cementing its position as a leader in reimagining enterprise data backup.
Since launching in January 2024, Eon has raised $200 million in total funding and developed several patented technologies aimed at eliminating inefficiencies in cloud backup management. The company’s platform tackles a longstanding challenge: while enterprises spend billions annually on cloud services, backup processes often remain manual, error-prone, and lacking actionable insights.
Eon flips the script by transforming backups into strategic assets. Its automated tools allow businesses to search, map, and classify cloud resources with ease. According to co-founder and CEO Ofir Ehrlich, “Eon delivers visibility and value from backups, providing immediate access and insights that were previously unattainable.”
Eon’s leadership team brings deep expertise, with Ehrlich and Gonen Stein co-founding CloudEndure, a disaster recovery firm acquired by AWS in 2019, and CTO Ron Kimchi formerly leading AWS migration services. Their vision has drawn praise from investors like BOND’s Jay Simons, who said, “Eon is setting a bold new standard for enterprise operations.”
The funding will support Eon’s expansion and the enhancement of its offerings, positioning the company as a pivotal player in the $679 billion cloud services market. With a focus on automation, accessibility, and operational insights, Eon is redefining what cloud backups can achieve.
