The round includes prior lead investors Sequoia Capital, Lightspeed Venture Partners, Greenoaks, and BOND, with participation from Affinity, Omri Casspi, Vine Ventures and others, tripling Eon’s valuation to $4B amidst explosive customer traction.
Eon, the first to unlock cloud data backups for enterprise AI, announced that it has raised a $300 million Series D funding round led by Elad Gil of Gil Capital. The round brings Eon’s total funding to $500 million since its founding less than two years ago, and increases its valuation to $4 billion, positioning it as the fastest-growing company in cloud infrastructure. The round included returning investors Sequoia Capital, Lightspeed Venture Partners, Greenoaks, and BOND.
“Eon has built a foundation for the future that makes AI and broader enterprise intelligence possible.” said Ofir Ehrlich, Co-Founder and CEO of Eon. “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.”
The funding follows a year of exceptional growth for Eon. Founded by the team that built and led AWS Disaster Recovery and Migration services, Eon is a trusted partner for enterprises seeking to unify, protect, and activate structured and unstructured data across multi-cloud environments. In the race to integrate and operationalize AI, enterprises are discovering their most valuable data is largely inaccessible, locked inside legacy backup storage. Eon turns that dormant data from both IaaS and PaaS services into a live, browsable, searchable and queryable foundation for AI training and analytics, unlocking new business value.
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“Before Eon, accessing critical data meant dealing with tickets, manual snapshots, and waiting an entire day. It was a complex and costly process, an operational bottleneck preventing growth within the cloud,” said CJ Keefe, Director of Corporate Infrastructure, DevOps, and SRE at SoFi, an Eon customer. “Now, our data is instantly accessible in a self-service format. It’s eliminated manual toil around access and usability, accelerating our data preparation time by over 90%. We’ve experienced firsthand how Eon is shaping data resilience from passive insurance to an active, measurable engine for speed and self-service.”
Eon’s transformative 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 percent.
“Eon is building one of the most important layers of the modern enterprise stack,” said Elad Gil, lead investor for the Series D. “Data is the most valuable, invisible asset on every company’s balance sheet. Companies will sink or swim based on their ability to access, analyze, and build on their data, and Eon’s momentum comes from making that possible in a new way.”
Eon will use the new capital to accelerate R&D, global hiring, and U.S. 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. Eon’s leadership team includes co-founders Ofir Ehrlich (CEO), Gonen Stein (President) and Ron Kimchi (CTO), as well as Avi Biton (CFO) and Moshe Milman (CSO).
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