MOUNTAIN VIEW, Calif. Aug. 21, 2017
Redis Labs, the home of Redis and provider of Redis Enterprise, today announced it has raised $44 million in Series D funding. This brings the company to $86 million in total funding to date. The round was led by new investor Goldman Sachs Private Capital Investing and existing investors Bain Capital Ventures and Carmel Ventures, with participation from Dell Technologies Capital.
Redis Labs has experienced a momentous first half of 2017, achieving 70 percent year-over-year revenue growth in the most recent quarter, lauded among the top emerging big data vendors and companies that matter most in data. Redis, currently the fastest growing database of any kind (SQL or NoSQL), has been recognized as the most loved database in the latest survey of over 60,000 developers by Stack Overflow and as Technology of the Year by InfoWorld. This round will accelerate the company’s momentum in go-to-market efforts, continue growing the ecosystem of channel and solution partners, drive innovation of Redis Enterprise platform, and catalyze Redis Labs’ position as the preferred primary database among enterprises.
“This funding round is a testament to the growing market demand and adoption of the open source Redis and Redis Enterprise to power next-generation applications as real-time, ultra-responsive capabilities become mandatory,” said Ofer Bengal, CEO and co-founder at Redis Labs. “The investment will support our continued market penetration and allow us to meet the enterprise demand we’re seeing for a modern in-memory database platform across wider geographies and industry sectors.”
“We are excited to lead this funding round for Redis Labs,” said Christian Resch, Executive Director at Goldman Sachs Private Capital Investing. “Redis Labs has established a market leadership position addressing some of the most demanding data management challenges at the largest enterprises. We look forward to participating in their continued growth and innovation.”
“With DRAM availability in commodity servers having grown 50 to 70 percent CAGR over the last 10 years, it makes sense that your primary operational database should be an in-memory database,” said Salil Deshpande, Managing Director at Bain Capital Ventures. “Particularly a database management system such as Redis Enterprise, which can seamlessly stitch together the DRAM, Flash, and NVRAM of hundreds of commodity servers, to allow operators to perfectly balance performance, cost, and transaction orthodoxy.”
“We have seen tremendous business momentum at Redis Labs over the past few quarters,” said Ronen Nir, General Partner at Carmel Ventures. “Enterprises and developers alike are starting to unveil the huge potential in this enterprise-grade, high-performance database. The best is yet to come.”
Founded in 2011 by Ofer Bengal and Yiftach Shoolman, Redis Labs serves over 70,000 registered accounts and over 7,400 enterprise customers globally. Redis was created in 2009 by Salvatore Sanfilippo, who leads open source development at Redis Labs.
For more information on Redis Labs, please visit: https://redislabs.com/.