Sources inform ''Globes'' that home network management solutions start-up Enure Networks Ltd. is restructuring and making strategic changes. The company plans to fire 10-15 of its 25 employees while concurrently seeking to raise financing to stay in business and launch its new strategic plan.
Enure has raised $13 million to date from Elron Electronic Industries Ltd. (Nasdaq: ELRN; TASE: ELRN) and Carmel Ventures. Enure's CEO is Gil Eyal and its chairman is Doron Inbar, the former president and CEO of ECI Telecom Ltd..
Enure VP business development David Sayag founded the company in 2003. He realized that home networks were becoming too complicated for end users and the company developed and offers management systems for homes and small and mid-sized businesses. The company markets its solutions through service vendors.
Sources at Enure said that the company intends to stay in business and change its marketing plan to market directly to users. This will require personnel changes and new financing. According to IVC Online, Enure raised $5 million in its last financing round in November 2007.
Enure said in response, "Our investors and employees are making every effort to bring the company to success."
Published by Globes [online], Israel business news - www.globes-online.com - on September 1, 2008
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