Xenon Ventures Buys Israeli Cloud Company Xplenty
Most of the employees of Tel Aviv-based Xplenty will be laid off. Its founders will remain in an advisory capacity
Founded in 2012, Xplenty's service enables organizations to integrate, process, and prepare data for analytics on the cloud, without needing to invest in software or hardware solutions of their own. The company previously raised $7 million in funding.
Following the acquisition, Xplenty's headquarters will be relocated to the U.S. and most of the company's 25 employees will be laid off.
Xenon has a team in place to run the company, and only a small team will remain in Israel to provide support, co-founder and CEO Yaniv Mor told Calcalist in an interview. The company's founders will remain in an advisory capacity following the acquisition, according to the announcement.