Eon, a New York City-based company specializing in cloud backup solutions, raised $70 million in Series C funding.
BOND led the investment round with participation from Sequoia Capital, Greenoaks, and Lightspeed Venture Partners.
Eon offers a platform that automatically manages and safeguards data stored in the cloud.
For example, imagine a large retail company that stores its sales and customer information across various cloud services. Eon’s platform continuously scans and organizes this data, ensuring that important information is backed up according to the company’s policies and compliance requirements. If a specific file or database record is accidentally deleted or corrupted, Eon enables the company to quickly locate and restore just that piece of data, rather than having to recover an entire system. This targeted approach saves time and reduces disruption to the business.
With newly raised funds, Eon plans to hire additional engineers, sales professionals, and marketers, aiming to accelerate product development and broaden its customer base.
The Series C funding brings Eon’s valuation to $1.4 billion.
As of today, Eon has raised a total of $197 million in funding to date. This includes a $20 million Seed round led by Sequoia Capital, a $30 million Series A led by Lightspeed Venture Partners, and a $77 million Series B led by Greenoaks.