Clearhaven Partners buys Israeli co SundaySky
Israeli individualized video clip system enterprise SundaySky has announced that it has bought command in the business to US personal equity company Clearhaven Partners. At the similar time SundaySky has declared that it is laying off 13% of its workforce totaling 24 staff in Israel, the US and Japan.

SundaySky’s announcement is slim on details but states that Clearhaven Partners will devote in excess of $100 million in the company with some of the funds going to present shareholders to buy a stake of extra than 50% and some into the company’s coffers for upcoming expense.




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This total is far below the $280 million valuation that SundaySky planned at the begin of the calendar year to get in a Tel Aviv Stock Exchange IPO. The company was reportedly previously 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 company’s CEO has been an American – Jim Dicso. The enterprise has lifted $75 million to day from traders such as Viola Ventures, Comcast Ventures, Vintage and NTT Docomo.

SundaySky will allow businesses to produce personalised online video clips for their customers including particular details of the purchaser from their identify and the use they make of solutions. So an insurance policies corporation can make their yearly report accessible to all consumers in a clip that incorporates facts about the purchaser. In the same way on the net ecommerce corporations can create a online video about diverse items but making use of the exact overall clip – a new characteristic that SundaySky launched only previous 12 months.

In accordance to specifics revealed at the stop of previous year, SundasySky had annual recurring earnings (ARR) of a lot more than $40 million in 2021. The company’s organization product is created all around once-a-year subscriptions for its program.

1 of SundaySky’s rivals is Israeli enterprise Idomoo, which held an IPO on the TASE very last calendar year at a organization valuation of NIS 344 million but has since witnessed its share cost drop by 80%. Idomoo experienced revenue 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.


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