Redis Labs has closed $110 million in financing led by a new investor, Tiger Global, which brings the company’s valuation to more than $2 billion. The company’s Series G round also includes participation from another new investor, SoftBank Vision Fund 2, and existing Redis Labs investor TCV. Additionally, Tiger, SoftBank, and TCV acquired additional ownership as part of a $200 million secondary transaction.
Founded in 2011 by Ofer Bengal (CEO) and Yiftach Shoolman (CTO), Redis Labs has now raised a net amount of $347 million and will continue to invest in expanding the company’s global footprint, advancing its market-leading real-time data platform, and delivering world-class customer support. The company’s existing investors include Bain Capital Ventures, Francisco Partners, Goldman Sachs Growth, Viola Ventures, TCV, and Dell Technologies Capital.
As the home of Redis, the popular open source database, Redis Labs provides a competitive edge to global businesses with Redis Enterprise, which allows teams to build performance, scalability, security, and growth into their applications. Designed for the cloud-native world, Redis Enterprise unifies data across hybrid, multi-cloud, and global applications.
"We founded Redis Labs with the idea that the future of the database market would be defined by performance, where Redis excels. Through the dedication of our team, Redis has become an enterprise-grade data platform to tackle nearly any real-time use case across every industry," said Ofer Bengal, co-founder and CEO at Redis Labs. "Partnering with exceptional new investors such as Tiger Global and SoftBank, in addition to the continued belief of our existing investors like TCV, validates our mission to make Redis the de facto real-time data platform companies choose to meet their customers’ expectations.”
For more information, go to https://redislabs.com.