Israeli personalized online video platform company SundaySky has declared that it has bought control in the enterprise to US non-public fairness agency Clearhaven Associates. At the exact same time SundaySky has declared that it is laying off 13% of its workforce totaling 24 personnel in Israel, the US and Japan.

SundaySky’s announcement is skinny on facts but suggests that Clearhaven Associates will make investments about $100 million in the company with some of the revenue heading to current shareholders to acquire a stake of a lot more than 50% and some into the firm’s coffers for potential financial commitment.




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Israeli individualized video clip co SundaySky raises $30m



Online video co Idomoo raises NIS 75m in TASE IPO







This total is considerably beneath the $280 million valuation that SundaySky planned at the get started of the yr to obtain in a Tel Aviv Stock Exchange IPO. The corporation was reportedly now drawing up its prospectus and hoped to elevate $70-100 million.

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

SundaySky lets organizations to create personalised video clip clips for their buyers which include own facts of the customer from their name and the use they make of merchandise. So an insurance coverage company can make their once-a-year report available to all customers in a clip that involves facts about the customer. Likewise online ecommerce businesses can generate a video about distinct merchandise but working with the very same in general clip – a new function that SundaySky released only previous year.

In accordance to facts posted at the finish of past calendar year, SundasySky experienced yearly recurring income (ARR) of far more than $40 million in 2021. The company’s business product is crafted about yearly subscriptions for its software program.

Just one of SundaySky’s rivals is Israeli enterprise Idomoo, which held an IPO on the TASE final calendar year at a enterprise valuation of NIS 344 million but has considering the fact that seen its share price fall by 80%. Idomoo had income of $13.1 million in 2021.

Released by Globes, Israel small business information – en.globes.co.il – on July 11, 2022.

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


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