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Eon raises $127M to simplify access to cloud data backups
- Eon, a cloud data backup specialist, has raised $127 million across three funding rounds since January to build the first “backup autopilot” for the cloud era.
- Eon says that its next-generation backups are fully managed, portable and support global search functionality.
- Its cloud backup autopilot scans, maps and classifies cloud resources autonomously and continuously.
- Eon’s snapshots are fully portable and can be restored in any environment, including from AWS to Azure.
- According to NAND Research Inc. analyst Steve McDowell, Eon have identified a clear inefficiency in the cloud backup market and come up with a compelling solution to address that gap.
- The company’s founders have a lot of pedigree in this area, having previously co-founded and led AWS’ disaster recovery and cloud migration services.
- Existing cloud backup solutions rely on simple snapshots, but Eon does things differently - it provides teams with backup recommendations based on their business needs and compliance considerations.
- The startup is targeting a global cloud infrastructure market expected to be worth over $838 billion by 2034.
- Existing IT backup processes are inefficient; Eon enables users to manage cloud backups at a file-granular level while optimising the recovery process.
- Storage and backup-related costs comprise a large part of most companies’ IT budgets, providing Eon with ample opportunity to disrupt this segment.
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