Clearhaven Partners buys Israeli co SundaySky
2 min readIsraeli personalized video clip system corporation SundaySky has declared that it has sold control in the firm to US personal equity company Clearhaven Partners. At the identical time SundaySky has announced that it is laying off 13% of its workforce totaling 24 workers in Israel, the US and Japan.

SundaySky’s announcement is thin on specifics but states that Clearhaven Companions will make investments about $100 million in the enterprise with some of the funds likely to present shareholders to purchase a stake of much more than 50% and some into the company’s coffers for long run investment decision.




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This total is significantly beneath the $280 million valuation that SundaySky planned at the start of the year to get in a Tel Aviv Inventory Trade IPO. The business was reportedly presently drawing up its prospectus and hoped to raise $70-100 million.

SundaySky was founded in 2007 by president and CPO Shmulik Weller and CTO Yaniv Axen. Because 2017 the firm’s CEO has been an American – Jim Dicso. The enterprise has lifted $75 million to day from buyers such as Viola Ventures, Comcast Ventures, Classic and NTT Docomo.

SundaySky will allow firms to create customized video clip clips for their customers together with particular specifics of the consumer from their identify and the use they make of merchandise. So an coverage enterprise can make their yearly report available to all shoppers in a clip that includes aspects about the buyer. Equally online ecommerce firms can develop a video clip about different merchandise but employing the exact total clip – a new element that SundaySky launched only last yr.

In accordance to facts released at the end of very last year, SundasySky experienced annual recurring profits (ARR) of extra than $40 million in 2021. The company’s enterprise model is crafted about yearly subscriptions for its computer software.

One particular of SundaySky’s rivals is Israeli business Idomoo, which held an IPO on the TASE previous year at a corporation valuation of NIS 344 million but has due to the fact viewed its share selling price slide by 80%. Idomoo had earnings of $13.1 million in 2021.

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

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


