Quick summary
Cloud backup startup Eon Inc. has reached a $1.4 billion valuation within a year of its founding, driven by rapid growth and “crazy customer traction.” Led by BOND, its latest $70M round brings total funding to $200M, with participation from Sequoia, Greenoaks, and Lightspeed. Founded by AWS alumni, Eon aims to modernize cloud backups, a $100B+ market, by addressing inefficiencies. Emerging from stealth last month, Eon plans to expand its 50-person team to scale operations and meet rising demand.
Eon Inc. Reaches Unicorn Status in Record Time
In today's fast-paced world, technology continues to evolve at an unprecedented rate. From artificial intelligence to quantum computing, the innovations we see today are shaping the future. Companies are Cloud backup startup Eon Inc. has achieved a remarkable $1.4 billion valuation less than a year after its founding—a lightning-fast trajectory to unicorn status. The company recently closed a $70 million funding round led by BOND, marking its fourth round of the year and bringing total funding to $200 million. Existing investors, including Greenoaks Capital Partners, Sequoia Capital, and Lightspeed Venture Partners, also participated in this latest round.
A Mission to Revolutionize Cloud Backups
AI is transforming industries by automating processes and providing insights through data aFounded in January by three Amazon Web Services (AWS) alumni, Eon is focused on making cloud backups faster and more seamless for businesses. The co-founders—CEO Ofir Ehrlich, Gonen Stein, and Ron Kimchi—bring deep expertise in cloud infrastructure. Their experience led them to tackle the complexities of backup services, which Ehrlich argues have not kept pace with the rapid evolution of cloud technology. Companies are spending “hundreds of billions of dollars annually on the cloud, out of which 20% is backup spend,” Ehrlich noted, emphasizing the inefficiencies in the current landscape.
20%
is backup spend emphasizing the
inefficiencies in the current landscape.
Emerging From Stealth With Momentum
Initially operating in stealth mode, Eon officially launched just last month and has already seen what Ehrlich calls “crazy customer traction.” The startup currently serves about 10 corporate clients across industries such as retail, ed-tech, and finance. Although specific customer names remain undisclosed, Eon’s early adoption rate underscores its potential to reshape enterprise cloud backup solutions.
Investor Confidence in a Promising Future
BOND, the lead investor in the latest funding round, sees immense promise in Eon’s mission. Jay Simons, a general partner at BOND, said, “From our first meeting with Eon’s founders, we knew they were onto something that would reshape the enterprise landscape.” This sentiment reflects the broader confidence among investors in Eon’s ability to disrupt the cloud backup market.
"As Eon builds on its early success, its founders remain committed to solving one of the cloud industry's most pressing challenges."
Fueling Growth and Expansion
With the new funding, Eon plans to scale its operations by hiring additional engineers, marketing professionals, and sales staff. The company currently employs nearly 50 people and aims to expand rapidly to meet growing demand. As Eon builds on its early success, its founders remain committed to solving one of the cloud industry's most pressing challenges: creating backup solutions that are efficient, reliable, and aligned with modern enterprise needs.
