Israeli personalized video platform enterprise SundaySky has announced that it has bought management in the enterprise to US private equity firm Clearhaven Companions. At the exact time SundaySky has introduced that it is laying off 13% of its workforce totaling 24 personnel in Israel, the US and Japan.

SundaySky’s announcement is slim on aspects but claims that Clearhaven Partners will make investments over $100 million in the firm with some of the money likely to existing shareholders to obtain a stake of much more than 50% and some into the firm’s coffers for future financial commitment.




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This amount is considerably down below the $280 million valuation that SundaySky planned at the start off of the calendar year to get in a Tel Aviv Stock Trade IPO. The company was reportedly presently drawing up its prospectus and hoped to increase $70-100 million.

SundaySky was established in 2007 by president and CPO Shmulik Weller and CTO Yaniv Axen. Given that 2017 the company’s CEO has been an American – Jim Dicso. The company has lifted $75 million to date from buyers together with Viola Ventures, Comcast Ventures, Vintage and NTT Docomo.

SundaySky will allow companies to produce personalised online video clips for their clients which includes individual details of the shopper from their identify and the use they make of merchandise. So an insurance policy organization can make their yearly report offered to all clients in a clip that involves particulars about the buyer. Similarly on line ecommerce firms can deliver a movie about distinct solutions but working with the very same general clip – a new aspect that SundaySky launched only previous calendar year.

According to facts printed at the end of previous year, SundasySky experienced yearly recurring earnings (ARR) of more than $40 million in 2021. The firm’s enterprise model is developed about annual subscriptions for its software package.

1 of SundaySky’s rivals is Israeli firm Idomoo, which held an IPO on the TASE past calendar year at a company valuation of NIS 344 million but has due to the fact noticed its share rate drop by 80%. Idomoo experienced income of $13.1 million in 2021.

Posted by Globes, Israel enterprise information – en.globes.co.il – on July 11, 2022.

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