Soluto

Soluto
Type of businessSubsidiary
Founded2008; 18 years ago (2008)
Dissolved2013; acquired by Asurion though remained as brand
Headquarters
Tel Aviv
,
Israel
Key peopleTomer Dvir (Cofounder, CEO), Ishay Green (Cofounder), Omri Haim (Chief Technology Officer)
IndustryComputer software, remote support web application
URLwww.solutotlv.com

Soluto was a device protection software developer that helped users identify and correct problems in Microsoft Windows.[1]

History

Soluto was founded in 2008 and received US$1.6 million in seed funding from Proxima Ventures. This was followed-up with a $6.2M second round of financing led by Bessemer Venture Partners and joined by Giza Venture Capital, in March 2009.[2] After the 2009 financisation, Israeli politician Naftali Bennett was brought in by investors as CEO. Bennett made several structural changes to the company, bringing on his brothers, Asher and Dan, as co-executives.[3] Asher, a respected expert in cryptography and graduate of the Technion, worked on expanding the range of solutions, while Dan, a graduate of McGill University, brought expertise in managing technical startups, specializing in user protection, in their infancy.[4]

Acquisition

In 2013, Soluto was acquired by Asurion, LLC.[5] Soluto ceased operation of the Soluto PC Management platform on April 1, 2016.[6] At the time of purchase, it had 40 employees.

Funding

Dissolution

In 2022, Asurion decided to dissolve Soluto in order to "focus its current growth on the cellular market".[10] The dissolution process included closing down Soluto's R&D center in Tel Aviv, and laying off all of its 120 employees.

References

  1. ^ "Asurion acquires Soluto for $100m". Globes. 30 Oct 2013. Retrieved 30 Jun 2020.
  2. ^ Soluto Raises $6.2M From Bessemer To Make Your PC Run Better, CrunchBase
  3. ^ "Bennett repeats success with new $100 million exit". The Times of Israel.
  4. ^ "Bennett repeats success with new $100 million exit". The Times of Israel.
  5. ^ Eric, Blattberg. "Asurion snaps up Soluto for $100M+ to offset insurance risks". Retrieved 19 June 2014.
  6. ^ "Soluto for PC is shutting down". Soluto Support. February 2016. Retrieved 2016-05-28.
  7. ^ Empson, Rip (13 December 2011). "Are You The "Family CTO"? A New Soluto Aims To Turn You Into A One-Person Help Desk". techcrunch.com. Retrieved 1 March 2012.
  8. ^ "New year, new friends, new Soluto". Soluto Blog. 2 February 2012. Retrieved 1 March 2012.
  9. ^ Feldman, Yaniv (2 February 2012). "Release: Eric Schmidt and Michael Arrington Israeli investors" (in Hebrew). newsgeek.co.il. Retrieved 1 March 2012.
  10. ^ "Asurion shutting down Israel R&D center Soluto, lays off all 120 employees". ctech. 2022-07-24. Retrieved 2022-08-15.

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