Home networking start-up Enure Networks Ltd. has completed a $5 million financing round and also appointed Gil Eyal as its new CEO. All the company's present investors participated in the new round.
Enure VP marketing David Sayag founded the company in 2003. Before founding the company he was VP product marketing at Sheer Networks, which was sold to Cisco Systems Inc. (Nasdaq:CSCO) for $100 million, and 3Com Israel Ltd.
According to IVC Online, Enure has raised $13 million to date, including the present round from Carmel Ventures and Elron Electronic Industries Ltd. (Nasdaq: ELRN; TASE: ELRN).
Enure develops home network management systems and automated software, including automated set up, security, configuration and diagnosing and fixing any possible connectivity problem in real time and with no need for user intervention.
The company has a contract with Bezeq The Israeli Telecommunication Co. Ltd. (TASE: BEZQ) reportedly worth $1 million. The company began operating in the US and Europe six months ago.
Published by Globes [online], Israel business news - www.globes-online.com - on November 18, 2007
© Copyright of Globes Publisher Itonut (1983) Ltd. 2007