Monday, August 21, 2017

Redis Labs secures $44m in venture funding

Redis Labs, a start-up based in Mountain View, California with offices in Tel Aviv and London, raised $44 million in Series D funding, bringing its total equity to $86 million.

The latest funding 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 is home of open source Redis, the world's most popular in-memory database platform and currently the fastest growing database of any kind (SQL or NoSQL). Redis was created in 2009 by Salvatore Sanfilippo, who leads open source development at Redis Labs.

Redis Labs reports 70 percent year-over-year revenue growth in the most recent quarter.

"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."

https://redislabs.com

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