Record-breaking funding propels Eon into the global spotlight as the cloud backup startup attracts top investors and skyrockets in valuation

In a tech landscape where momentum is everything, Eon, the fast-growing cloud startup, has officially shattered expectations. The Israeli company has raised hundreds of millions of dollars, pushing its valuation to an astonishing $4 billion—all in less than two years since its founding.

Sources confirm that Eon is completing its fifth funding round, marking one of the most aggressive fundraising trajectories since the rise of fellow Israeli giant Wiz. The startup became a unicorn just a year ago, and its pace has only accelerated.

A Breakneck Funding Journey

By November 2024, still under its first year, Eon had already secured around $200 million in total funding following a $70 million round at a $1.4 billion valuation. That round was led by U.S. investment powerhouse BOND, with returning investors such as Sequoia Capital, Greenoaks, and Lightspeed doubling down on the company’s potential.

Earlier in 2024, while emerging from stealth, Eon quietly completed three additional rounds, raising about $127 million—a rare feat for a brand-new cloud startup.

Investors have been quick to label Eon as “the next Wiz”, thanks to its blistering growth rate, strong leadership team, and technology that touches one of the most critical pain points in enterprise cloud operations.

A Platform Built for Cloud Reliability

Eon’s product tackles a universal challenge: managing and accessing cloud backups without painful manual work.

Its platform automatically scans, maps, and classifies cloud resources, giving organizations total visibility and seamless access to their data at any moment. By eliminating tedious backup maintenance, Eon delivers what many enterprises have long wanted: control, clarity, and confidence over their cloud environments.

Elite Founders With a Proven Track Record

Founded by AWS alumni Ofir Ehrlich, Ron Kimchi, and Gonen Stein, Eon blends deep cloud expertise with a history of successful execution.

Ehrlich and Kimchi lead the Tel Aviv development center, while Stein runs operations from New York—a global structure mirroring the needs of modern enterprise customers.

The founders previously built CloudEndure, a disaster recovery startup that raised just $18 million, became profitable early, and was ultimately acquired by AWS for $200 million in 2019. At AWS, the trio crossed paths again as they helped scale cloud migration and disaster recovery products built on CloudEndure’s foundations.

Investors Rush In

Eon’s earliest round—a $20 million pre-launch investment—was led by Sequoia Capital, with partner Shaun Maguire taking point. It was soon followed by a $30 million second round led by Lightspeed, which brought in NBA star-turned-investor Omri Casspi’s fund, Sheva, now Eon’s largest Israeli shareholder.

In summer 2024, the company raised a massive $77 million Series B at a $750 million valuation, led by Greenoaks with participation from Quiet Ventures. At the time, Eon operated with just 36 employees across New York and Tel Aviv—proof that small teams can still achieve outsized impact.

Now, with its valuation jumping to $4 billion, Eon is officially one of the fastest-growing startups in global tech.

Final Thoughts

Eon’s extraordinary rise proves that breakthrough innovation, elite founders, and strategic timing can still spark monumental success in the cloud startup world. If you enjoyed this story, follow, share, and leave a comment to keep the conversation going—and help bring more in-depth tech insights your way.