Clearhaven Partners buys Israeli co SundaySky
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Israeli individualized online video system organization SundaySky has announced that it has bought handle in the company to US non-public fairness organization Clearhaven Partners. At the same time SundaySky has declared that it is laying off 13% of its workforce totaling 24 workforce in Israel, the US and Japan.

SundaySky’s announcement is thin on details but claims that Clearhaven Companions will invest over $100 million in the company with some of the dollars likely to existing shareholders to purchase a stake of additional than 50% and some into the firm’s coffers for long term expense.




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This volume is considerably underneath the $280 million valuation that SundaySky prepared at the commence of the yr to attain in a Tel Aviv Stock Trade IPO. The corporation was reportedly presently drawing up its prospectus and hoped to raise $70-100 million.

SundaySky was started in 2007 by president and CPO Shmulik Weller and CTO Yaniv Axen. Since 2017 the firm’s CEO has been an American – Jim Dicso. The firm has raised $75 million to date from investors together with Viola Ventures, Comcast Ventures, Classic and NTT Docomo.

SundaySky makes it possible for corporations to deliver customized video clips for their clients which include personalized facts of the shopper from their title and the use they make of solutions. So an insurance policy enterprise can make their once-a-year report available to all customers in a clip that includes particulars about the customer. Likewise on the internet ecommerce corporations can create a movie about diverse products but employing the similar general clip – a new aspect that SundaySky released only previous 12 months.

In accordance to specifics released at the conclude of final 12 months, SundasySky had once-a-year recurring profits (ARR) of far more than $40 million in 2021. The firm’s business design is constructed around annual subscriptions for its software.

One of SundaySky’s rivals is Israeli corporation Idomoo, which held an IPO on the TASE past calendar year at a organization valuation of NIS 344 million but has considering the fact that noticed its share rate tumble by 80%. Idomoo experienced revenue of $13.1 million in 2021.

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

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