By one recent estimate, the NoSQL database market is on track to achieve a growth rate of 21% CAGR through 2020. The outlook is even rosier for the global Database-as-a-Service (DBaaS) market, which is expected to grow at a CAGR of more than 65% in the same time period.
As the most innovative player in the NoSQL database market and the NoSQL pioneer to offer DBaaS, Redis Labs is perfectly poised to ride both of these growth trends. And we’ve wasted no time in doing so.
As the company announced on July 21st, we have seen unprecedented growth across several key metrics including:
- 350% year over year revenue growth for our Redis Labs Enterprise Cluster (RLEC) on-premises software
- Expansion of Redis Cloud’s popularity to over 55,000 accounts globally
- 600 new enterprise customers in the first six months of 2016, including numerous Fortune 500 corporations
I don’t think it’s an exaggeration to say that we’ve entered hyper-growth mode. And while cautionary tales and strategies abound for handling this dizzying pace of growth, I think Redis Labs is well positioned to scale long into the future.
Both execution excellence and tremendous expertise in Redis (the fastest growing database of any kind right now—SQL or NoSQL), have laid the foundation for Redis Labs’ continued success with enterprise customers. Some of the other NoSQL players have raised more in funding, but through hard work, innovation and ruthless focus on impeccable execution, we have grown at a faster pace.
Redis Labs is a perfect proof for the time tested success formula:
And just like the vanguards we serve, who rely on us to power the scale, speed and efficiency needs of some of the most exciting applications of our time, Redis Labs is a vanguard in its own right—growing at a speed and momentum that is far surpassing the market as a whole.