Sat. Nov 27th, 2021

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Ravello Systems, an Israeli cloud software company with headquarters in Palo Alto and a research center in Ra’anana, was acquired by Oracle for an estimated $400 to $500 million. An announcement — which declined to name the exact price — was posted on both companies’ websites on Feb. 23.

According to Reuters, Ravello, which was founded in 2011 and employs about 60 people, 40 of them in Israel, has raised $54 million. Its largest shareholders are Norwest Venture Partners, Sequoia Capital and Bessemer Venture Partners.

Ravello, whose service runs on public clouds such as Amazon Web Services and Google Cloud, enables enterprises to move large applications to the cloud.

Ravello was founded by CEO Rami Tamir and Benny Schnaider, who have founded three other technology companies, according to the Jerusalem Post. —j. staff 

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