Israeli personalized movie system business SundaySky has declared that it has marketed regulate in the enterprise to US personal equity organization Clearhaven Partners. At the similar time SundaySky has announced that it is laying off 13% of its workforce totaling 24 employees in Israel, the US and Japan.

SundaySky’s announcement is slender on aspects but claims that Clearhaven Associates will devote above $100 million in the business with some of the money going to current shareholders to invest in a stake of much more than 50% and some into the firm’s coffers for long run financial investment.




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This quantity is significantly underneath the $280 million valuation that SundaySky prepared at the commence of the year to obtain in a Tel Aviv Inventory Exchange IPO. The firm was reportedly now drawing up its prospectus and hoped to raise $70-100 million.

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

SundaySky makes it possible for businesses to deliver individualized video clips for their prospects together with personalized information of the client from their name and the use they make of products. So an insurance corporation can make their annual report accessible to all prospects in a clip that consists of particulars about the consumer. Similarly online ecommerce businesses can deliver a video about distinct merchandise but making use of the identical over-all clip – a new attribute that SundaySky launched only final yr.

In accordance to aspects posted at the close of previous calendar year, SundasySky experienced yearly recurring profits (ARR) of far more than $40 million in 2021. The firm’s business enterprise design is built close to annual subscriptions for its software program.

A person of SundaySky’s rivals is Israeli enterprise Idomoo, which held an IPO on the TASE last year at a corporation valuation of NIS 344 million but has due to the fact noticed its share price slide by 80%. Idomoo experienced income of $13.1 million in 2021.

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

© Copyright of Globes Publisher Itonut (1983) Ltd., 2022.


