Clearhaven Partners buys Israeli co SundaySky
2 min readIsraeli individualized video platform business SundaySky has announced that it has bought handle in the corporation to US personal fairness agency Clearhaven Partners. At the exact time SundaySky has announced that it is laying off 13% of its workforce totaling 24 staff in Israel, the US and Japan.

SundaySky’s announcement is slim on facts but says that Clearhaven Partners will devote about $100 million in the corporation with some of the cash likely to current shareholders to purchase a stake of far more than 50% and some into the company’s coffers for long run expenditure.




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This total is significantly down below the $280 million valuation that SundaySky planned at the begin of the calendar year to get hold of in a Tel Aviv Inventory Exchange IPO. The firm was reportedly now drawing up its prospectus and hoped to increase $70-100 million.

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

SundaySky permits firms to generate individualized video clip clips for their shoppers including own aspects of the shopper from their title and the use they make of merchandise. So an insurance plan company can make their yearly report readily available to all prospects in a clip that involves information about the buyer. In the same way on the internet ecommerce businesses can generate a video about various merchandise but utilizing the exact same overall clip – a new characteristic that SundaySky launched only past yr.

According to details posted at the conclude of very last calendar year, SundasySky had annual recurring earnings (ARR) of much more than $40 million in 2021. The firm’s organization product is developed all over once-a-year subscriptions for its software package.

One particular of SundaySky’s rivals is Israeli corporation Idomoo, which held an IPO on the TASE very last year at a organization valuation of NIS 344 million but has considering the fact that noticed its share selling price drop by 80%. Idomoo experienced profits of $13.1 million in 2021.

Printed by Globes, Israel organization news – en.globes.co.il – on July 11, 2022.

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