The open-source database company, Redis Enterprises, raised $100m from its Series F Funding Round.
FREMONT, CA: Redis Labs secured $100 million in Series F round of financing at a company valuation of more than $1 billion. The Series F Financing Round, was co-led by Bain Capital Ventures and TCV, along with the participation from existing investors Francisco Partners, Goldman Sachs Growth, Viola Ventures, and Dell Technologies Capital.
Enrique Salem, the partner at bain capital ventures, said, “we’ve long believed in the market opportunity for a high-performance database in the cloud-era and redis’ potential to lead this category. Since our initial series a investment, the redis team has done a remarkable job making redis an essential tool for developers and being a trusted partner for global enterprises operating at scale.”
The Redis company, which has raised over $246m to-date, aims to utilize the newly raised capital to develop its global Redis community, expand its go-to-market team and programs, and focus more on the product support services to deliver value for customers.
Under the leadership of Ofer Bengal, Co-Founder and CEO, Redis Labs is efficiently delivering a real-time data platform that enables companies of every industry to manage, process, analyze, and make predictions that will enhance their customer experiences and support the growth their business forward.
Ofer Bengal, co-founder and CEO at Redis Labs, states, “the unprecedented conditions brought on by covid-19 have accelerated business investments in building applications that require real-time, intelligent data processing in the cloud. During this time, redis has become even more critical to our customers, partners, and community. We will continue to invest in strengthening our community footprint, advancing the redis technology, and helping our users to do more with redis.”
Redis Labs currently employs more than 7,500 customers, including MasterCard, Dell, Fiserv, Home Depot, Microsoft, Costco, Gap, and Groupon.