Server Infrastructure Firm Linked to Omer Adam and Maor Malul Valued at $1.6 Billion

Leumi Partners has recently finalized its investment agreement in Cloud, the server-farm infrastructure group backed by Maor Malul, Omer Adam and Nissim Gaon. Globs reported that the company’s valuation has jumped to $1.6 billion, about four times the value assigned to it at the start of the funding round earlier this year.

The original deal had Leumi Partners investing $100 million for a 20% stake, when Cloud was valued at $400 million. Since then, the company secured the American neo-cloud company Crusoe as a customer, which lifted its valuation to $1 billion, or about 3 billion shekels in April.

More recently, Cloud reportedly landed another customer, one of the major cloud companies, and that development pushed the valuation up again. According to the report, the latest increase to $1.6 billion happened within just two months.

The article does not say when the new customer agreement was signed or whether the company plans additional fundraising, but it indicates that the valuation rise followed the addition of major clients.