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Eon Raises $300 Million in Series D led by Elad Gil, aiming to enhance R&D and expand globally.

PRIVATEDec 09, 2025•6 months ago

Amount Raised

$300 Million

Round Type

SERIES D

New YorkInformation Technology

Investors

BondGreenoaksLightspeed Venture PartnersSequoia CapitalElad Gil

Description

Eon, a New York–based cloud backup platform, has raised $300 million in Series D funding, bringing its total capital raised to $500 million. The round was led by Elad Gil of Gil Capital, alongside returning investors Sequoia Capital, Lightspeed Venture Partners, Greenoaks, and BOND. This funding will be utilized to boost R&D, hire globally, grow in the U.S., and enhance integrations with cloud providers. Eon's valuation tripled to $4 billion following this round.

Company Information

Company

Eon

Location

New York, New York, United States

About

Eon is changing the cloud data backup space by introducing a new storage tier that turns backups into live strategic assets — seamlessly automated, radically cost-efficient, and instantly usable for AI and analytics. Backed by Sequoia Capital, Lightspeed Venture Partners, Greenoaks Capital and BOND Capital, among other prominent investors, Eon is led by the team that founded CloudEndure (Cloud Disaster Recovery and Migration startup, acquired by AWS), and built two native AWS services: AWS Elastic Disaster Recovery, and AWS Application Migration Service, supporting the world's largest enterprises.

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VC-backed spending patterns
VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers
Tech investment trends
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Fundz is a real-time business intelligence platform powered by agentic AI that proactively delivers personalized daily signals — including funding rounds, executive changes, M&A activity, 13F institutional filings, SEC 8-K events, investor activity, and website modifications — based on each user's watchlist and ICP. A trusted data source at firms such as BlackRock, Oracle, Kleiner Perkins, LinkedIn, HubSpot, and Cloudflare, Fundz democratizes the institutional-grade intelligence that previously required a PitchBook or Bloomberg terminal. Features include FundzWatch™ for automated website change detection, Daily Briefing for AI-powered daily briefings, and unified cross-signal alerts across 200,000+ companies.

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