Israeli cloud backup company Eon has announced the completion of a $300 million Series D financing round led by Elad Gil of Gil Capital at a company valuation of $4 billion. The round brings Eon’s total funding to $500 million. Participating in the round were returning investors Sequoia Capital, Lightspeed Venture Partners, Greenoaks, and BOND. “Globes” revealed last month that Eon was set to complete the financing round.
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The cloud infrastructure company was founded in 2023 by CEO Ofir Ehrlich, president Gonen Stein and CTO Ron Kimchi.
Ehrlich said, “Eon has built a foundation for the future that makes AI and broader enterprise intelligence possible. We hear from customers that they are solving for two critical challenges: first, storing enterprise data efficiently and compliantly to minimize risk, and second, transforming the data goldmine they’re sitting on into active fuel for their business and AI strategies.”
Eon’s platform automates ingestion from cloud data sources across AWS, Microsoft Azure, and Google Cloud under a single pane of glass. This unlocks cloud data by converting static backups into an accessible data lake, turning them into live, portable assets for AI, analytics, and recovery. Customers use Eon to automate backup posture, reduce compliance risk, and eliminate infrastructure waste. By moving data from primary storage into Eon’s secondary storage, the platform maintains direct object storage API access while delivering efficiency, including backup cost reduction of 30 to 50%.
Eon will use the new capital to accelerate R&D, global hiring, and US market expansion while deepening its integrations with leading cloud providers. The company is strengthening strategic partnerships with AWS, Microsoft Azure, and Google Cloud as well as other technology leaders to extend its platform’s reach and interoperability.
Published by Globes, Israel business news – en.globes.co.il – on December 3, 2025.
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