Israeli Data Protection Company Own Sold to Salesforce for $2.1 Billion

Strategic Insights -

Own, an Israeli data protection company founded in 2014, was sold to Salesforce for $2.1 billion, marking one of the largest exits in Israel's technology industry in the past year. The company was founded by Ariel Berkman, Ori Yankelev, and others, and its origins date back to a service lab called Creo Recover, which provided data recovery solutions to private customers and companies.

The company's success can be attributed to its innovative backup solution for Salesforce software, which enables enterprises to conduct sales and customer service processes and gather data on product use and marketing effectiveness. The solution, developed by Berkman and his team, has seen significant growth and adoption, and has become a key part of Own's offerings.

Key Takeaways:

  • Own was founded in 2014 by Ariel Berkman, Ori Yankelev, and others, and was initially a service lab called Creo Recover that provided data recovery solutions to private customers and companies.
  • The company developed an innovative backup solution for Salesforce software, which has seen significant growth and adoption, and has become a key part of Own's offerings.
  • The company has raised $507 million in funding from investors including Insight Partners, Israeli fund Vertex, and others.
  • The founders of Own hold a 10% stake in the company, while Insight Partners holds 30% and will pocket about $500 million from the sale to Salesforce.
  • The sale marks one of the largest exits in Israel's technology industry in the past year, with Own being sold to Salesforce for $2.1 billion.
  • The company's management resides in the US, where most of its employees are also based, while the company is registered in Israel and holds its intellectual property.
  • Own has developed a dependency on Salesforce, which is its largest market, and has added additional products and services to its offerings.
  • The company has been advised by law firms Meitar in Israel and Hogan Lovells in the US, and has received investment from various funds including Vertex Ventures and Insight Partners.

Statistics:

  • Own was founded in 2014 and has since raised $507 million in funding from investors.
  • The company's backup solution for Salesforce software has seen significant growth and adoption, and has become a key part of Own's offerings.
  • The sale of Own to Salesforce for $2.1 billion marks one of the largest exits in Israel's technology industry in the past year.
  • The founders of Own hold a 10% stake in the company, while Insight Partners holds 30% and will pocket about $500 million from the sale to Salesforce.

Sources:

  • "Globes, Israel business news en.globes.co.il" - article published on September 8, 2024.
  • "Own becomes the biggest exit in Israel's technology industry in the past year" - article published on September 8, 2024.
  • "Israeli data protection company Own sold to Salesforce for $2.1 billion" - article published on September 8, 2024.