Eon, a next-generation cloud backup solution, announced its launch from stealth, and the company raised a total of $127 million in funding. This first backup autopilot for the age of cloud infrastructure and Eon monitor cloud resource sprawl and bring cloud backup posture management (CBPM) to enterprises. Eon also replaces legacy backup tools and generic snapshots, transforming backups into useful, easy-to-manage assets.
Eon was launched by Ofir Ehrlich, Gonen Stein, and Ron Kimchi, the team behind CloudEndure (acquired by Amazon in 2019) where they built and led the Disaster Recovery and Cloud Migration services at AWS. And 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.
Since its founding in January 2024, Eon has secured three rounds of funding: a $20 million Seed led by Sequoia Capital with participation from Vine Ventures, Meron Capital, and Eight Roads, a $30 million Series A led by Lightspeed Venture Partners and participation from Sheva, and a $77 million Series B led by Greenoaks with participation from Quiet Ventures.
The global cloud infrastructure market is growing rapidly, expected to reach $838 billion by 2034, with enterprises estimating that 10-30% of their total cloud bill will be spent on backup storage and management. But the scale and dynamic nature of the cloud have led to enterprises losing control over their backups. The current backup management methods require time-consuming, manual data classification and tagging processes, agents and appliances, face mounting prohibitive costs, and ultimately produce backups that are not accessible.
Eon also 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. And existing solutions depend on snapshots, which are non-searchable black boxes, that 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/restore individual files and run SQL queries on backed-up database snapshots seamlessly, without any resource provisioning.
KEY QUOTES:
“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.”
-Ofir Ehrlich, Co-Founder and CEO of Eon
“In an industrywhere file restoration can take weeks, Eon’s novel backup solution pinpoints data instantly, saving time, money, and compliance headaches for customers. With a world-class team led by cloud pioneers Ofir, Gonen, and Ron – Eon is bringing the next generation of cloud backup management to market.”
-Shaun Maguire, Partner at Sequoia Capital
“Investing in the right company begins with investing in the right team, and with Eon we saw an exceptional team, uniquely skilled for the task at hand. Eon is addressing a critical need as enterprises accelerate their cloud adoption and face headwinds of data protection concerns. We are thrilled to support their mission.”
-Tal Morgenstern, Partner at Lightspeed
“Storage and backup are among the largest parts of the IT budget. Yet customers are stuck with frustrating, outdated options, leaving them with poorly optimized costs; incomplete data inventories; and shallow classification. Eon has the team, the expertise, and the ambition to develop an entirely new product that we believe will become the cognitive referent for cloud-native backup. We are proud to partner with Ofir and his team early in their journey, as they break the trade-off between price, performance, and transparency.”
-Patrick Backhouse, Partner at Greenoaks
