Eon, a company pioneering the use of cloud data backups for enterprise AI, has announced a significant $300 million Series D funding round. Led by Elad Gil of Gil Capital, this investment elevates the company's valuation to an impressive $4 billion. The new capital brings Eon’s total funding to $500 million in less than two years, marking its position as one of the fastest-growing firms in the cloud infrastructure sector.
Unlocking Dormant Data for the AI Era
In today's data-driven landscape, many enterprises find their most valuable information is inaccessible, locked within legacy backup storage systems. This creates a major bottleneck for integrating and operationalizing artificial intelligence, hindering business growth and innovation. Eon was founded to address this critical challenge by transforming passive data archives into active, strategic assets for modern business intelligence.
The company's platform turns dormant data from Infrastructure-as-a-Service (IaaS) and Platform-as-a-Service (PaaS) sources into a live, queryable foundation for AI training and analytics. According to CEO Ofir Ehrlich, Eon solves the dual problems of storing data efficiently while activating it as fuel for business strategies. This approach unlocks new value from what was previously a static insurance policy for data.
A Transformative Approach to Data Resilience
Eon’s technology automates data ingestion from major cloud providers, including AWS, Microsoft Azure, and Google Cloud, under a single management console. By converting static backups into an accessible data lake, it makes information portable and ready for immediate use. This process not only powers AI initiatives but also helps customers automate their backup posture, reduce compliance risks, and eliminate infrastructure waste.
The platform's impact is validated by customers like SoFi, which has seen significant operational improvements. CJ Keefe, Director of Corporate Infrastructure at SoFi, noted that Eon replaced a slow, manual process with instant, self-service data access. This shift has accelerated their data preparation time by over 90%, turning data resilience into a measurable engine for speed and efficiency.
Fueling Future Growth and Expansion
The funding round saw participation from returning investors such as Sequoia Capital, Lightspeed Venture Partners, Greenoaks, and BOND. Lead investor Elad Gil emphasized Eon's importance, stating it is building one of the most critical layers of the modern enterprise stack. He highlighted that a company's ability to access and build on its data will determine its success in the future.
With the new capital, Eon plans to accelerate its research and development efforts and expand its global team and U.S. market presence. A key focus will be deepening its integrations and strategic partnerships with leading cloud providers and other technology leaders. This strategy aims to extend the platform’s reach and ensure broad interoperability across the enterprise technology ecosystem.
This latest funding round solidifies Eon's leadership in the autonomous cloud backup and data resilience market. By enabling enterprises to finally leverage their largest unused data source, the company is not just providing a service but shaping the future of data management. Eon's rapid ascent to a $4 billion valuation underscores the immense demand for solutions that make enterprise data truly accessible for the age of AI.