Israeli database program Redis Labs announced today that it has completed a $ 110 million Series G financing round led by new investor Tiger Global, raising the company’s valuation to more than $ 2 billion. New investor SoftBank Vision Fund 2 * and current investor TCV also participated in the tour. Tiger, SoftBank, and TCV have also acquired additional ownership as part of a $ 200 million minor deal. Redis Labs has raised $ 100 million in the database with a valuation of more than $ 1 billion Founded in 2011 by CEO Ofer Bengal and CTO Yiftach Shoolman, Redis Labs has now raised a net $ 347 million and will continue to invest in expanding internationally, enhancing the platform Time data, and provide customer support. The company’s other investors include Bain Capital Ventures, Francisco Partners, Goldman Sachs Growth, Viola Ventures, and Dell Technologies Capital. “We founded Redis Labs with the idea that the future of the database market will be determined by performance, where Redis excels. Through the dedication of our team, Redis has become an enterprise-level data platform for handling almost anything real time use case in every industry,” said Bengal. Redis Labs has completed a robust fiscal year ending in January 2021 as the need for real-time data collection and analytics for each company has accelerated. This included revenue growth of more than 54% (CAGR) over the three years ending January 31, 2021 with more than 8,000 paying customers, including 31% from Fortune 100 and a net retention rate greater than 120%. Posted by Globes, Israel business news – en.globes.co.il – on April 7, 2021 © Copyright Globes Publisher Itonut (1983) Ltd. 2021
Israeli company Redis Labs raised $ 310 million with a valuation of more than $ 2 billion
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