Israeli personalized online video platform firm SundaySky has announced that it has bought handle in the firm to US personal equity business Clearhaven Partners. At the exact time SundaySky has announced that it is laying off 13% of its workforce totaling 24 workforce in Israel, the US and Japan.

SundaySky’s announcement is skinny on details but claims that Clearhaven Associates will invest about $100 million in the firm with some of the revenue heading to present shareholders to obtain a stake of far more than 50% and some into the company’s coffers for foreseeable future investment decision.




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This total is significantly under the $280 million valuation that SundaySky prepared at the start out of the 12 months to get hold of in a Tel Aviv Inventory Exchange IPO. The enterprise was reportedly now 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. Due to the fact 2017 the company’s CEO has been an American – Jim Dicso. The company has elevated $75 million to day from investors including Viola Ventures, Comcast Ventures, Vintage and NTT Docomo.

SundaySky will allow firms to generate individualized online video clips for their clients which includes individual aspects of the client from their identify and the use they make of products and solutions. So an coverage company can make their yearly report accessible to all clients in a clip that involves aspects about the customer. Similarly on the web ecommerce organizations can create a video clip about different items but using the similar all round clip – a new feature that SundaySky launched only last 12 months.

According to details released at the conclusion of very last year, SundasySky experienced annual recurring income (ARR) of far more than $40 million in 2021. The company’s enterprise model is crafted all-around annual subscriptions for its program.

A single of SundaySky’s rivals is Israeli business Idomoo, which held an IPO on the TASE past yr at a organization valuation of NIS 344 million but has due to the fact seen its share rate drop by 80%. Idomoo experienced earnings of $13.1 million in 2021.

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

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


