Redis Labs is the home of Redis and offers Redis Enterprise, a cloud-native real-time data platform that unifies data across hybrid, multi-cloud, and global applications. The company targets low-latency, business-critical real-time use cases and has integrations and go-to-market programs with AWS, Google Cloud, and Microsoft Azure. It reported strong operating metrics: over 54% revenue CAGR for the three years ended Jan 31, 2021; more than 8,000 paying customers including 31% of the Fortune 100; and net retention greater than 120%. Redis Labs plans to use the new capital to expand its global footprint, advance its market-leading real-time data platform, and deliver world-class customer support. The company also engages a large developer and customer community through events such as RedisConf, which drew more than 5,000 participants in 2021. The recent financing values Redis Labs at more than $2 billion and brings its total net capital raised to $347 million. Redis Labs delivers a real-time data platform through Redis Enterprise and the open-source Redis database to help companies manage, process, analyze, and make predictions on distributed, siloed data. The company emphasizes low-latency, distributed, and high-availability use cases and has launched products including RedisAI, RedisGears, and RedisRaft to enable inferencing, programmable data-processing, and strong consistency. In calendar 2020 it reported momentum: Redis Enterprise Cloud as a native service on Google Cloud grew over 300% in two quarters, it signed a strategic alliance with Microsoft Azure (private preview with public preview expected in early fall), and achieved Advanced Technology Partner status with AWS. Redis Labs serves more than 7,500 customers, including MasterCard, Dell, Fiserv, Home Depot, Microsoft, Costco, Gap, and Groupon. Financially, the company closed a $100 million Series F at a valuation of more than $1 billion and has raised over $246 million to date. With the funding Redis says it will grow the global Redis community, expand its go-to-market team and programs, and invest in product and support services to deliver more value for customers. Redis Labs offers commercial services around the Redis in-memory data store, with flagship Redis Enterprise that extends the open-source Redis platform with additional enterprise tools and services. The company provides managed cloud services on public clouds (AWS, GCP, Azure) and private clouds, as well as traditional downloads and licenses for self-managed installs. Redis Labs counts more than 8,500 customers, including American Express, Staples, Microsoft, Mastercard and Atlassian; customers use the service as a database, cache and message broker. The firm moved some new modules to a new license to prevent cloud providers from reselling its work without contributing back, while Redis Enterprise itself is closed-source. Redis Labs plans to use new funding to accelerate its go-to-market strategy and continue investing in the Redis community and product development. CEO Ofer Bengal said the company is not yet cash-positive and raised capital now to push growth in a competitive environment, with an IPO seen as the logical next step. Redis Labs develops and maintains Redis, an open-source in-memory database, and offers Redis Enterprise as a managed service across major clouds and as downloadable software. Its platform is used to power real-time applications including e-commerce, social, personalization, IoT, metering and fraud detection. The company reports over 7,400 enterprise adopters and more than 70,000 registered accounts globally. Redis Labs was founded in 2011 by Ofer Bengal and Yiftach Shoolman and has offices in Mountain View, Tel Aviv and London. The company plans to use new capital to continue market penetration across wider geographies and industry sectors. To date it has raised $86M in total funding. Redis Labs develops and operates Redis, the open-source in-memory NoSQL data store, and offers commercial services including the managed Redis Cloud and support for Redis Labs Enterprise Cluster. The company also offers Redis on Flash, which allows running Redis on SSDs instead of RAM. Founded in 2011, Redis Labs has been targeting enterprise customers and reported winning 600 new enterprise customers in the first half of the year, naming customers such as Groupon, TD Bank, Verizon, HipChat, DBS, RingCentral, Menards, Twitch and flydubai. The firm positions itself to serve growing demand for in-memory data stores driven by IoT and real-time analytics use cases. Redis Labs said it will use the new funding to expand sales and marketing and to strengthen its enterprise foothold. Financially, the company has now raised a total of $42M after the latest round.

Total raised

$343M

Funding rounds

6

Latest round

Series G

Latest activity

Apr 2021