Redis Labs, a California-based computer software startup, announced yesterday that it has raised $60 million in Series E financing round led by a new and leading private equity firm, Francisco Partners. Redis Labs has now raised $146 million overall in funding, including $44 million funding round back in August 2017.
“This financing enables us to accelerate our strategy to deliver the fastest and most efficient database to the world and enable instant experiences for any modern application”, said Ofer Bengal, co-founder and CEO at Redis Labs. Other existing investors of Redis Labs such as Goldman Sachs Private Capital Investing, Bain Capital Ventures, Viola Ventures, and Dell Technologies Capital also participated in the funding round.
With the new funds, the company now aims to accelerate global go-to-market execution and invest further in the Redis community. Also, it wants to continue its leadership to deliver the highest performing and most efficient database platform for modern applications. Other than that, Francisco Partners’ CIO, David Golob, will be joining the Redis Labs Board of Directors, along with operating partner Eran Gorev who will be joining the team as a board observer, as a part of the new investment.
Redis Labs was found in 2011 by Ofer Bengal (CEO) and Yiftach Shoolman (CTO) and is the home of Redis, the world’s most popular in-memory database. Bengal and Schoolman built a NoSQL database platform using native data structures that could serve app requests directly from the memory. Later in 2015, Salvatore Sanfilippo, the original developer of Redis, joined Redis Labs in 2015 to lead its open source development.
Redis Labs is also a commercial provider of Redis Enterprise i.e. the world’s fastest database that makes use of the modern in-memory technologies like NVMe (non-volatile memory express) and Persistent Memory. This enables it to offer cost-effective deployment over multiple public clouds and on-premise data centers. Other than that, Redis Enterprise also comes with a variety of data modeling techniques including Streams, Graph, Document and Machine Learning, with a real-time search engine.
Redis Labs has been ranked as a leader in top analyst reports on NoSQL, in-memory databases, operational databases, and database-as-a-service, and is trusted by seven Fortune 10 companies. Moreover, it has also been voted as the most loved database and is rated the most popular database container.
“We are thrilled to be partnering with Redis Labs’ team as the company scales up globally to meet the needs of the Internet economy”, said Matt Spetzler, partner and co-Head of Europe at Francisco Partners.
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