Redis Labs Raises $60 Million Series E Financing to Bring Instant Experiences Everywhere
Francisco Partners Leads Round; David Golob and Eran Gorev Join Redis Labs Board of Directors
MOUNTAIN VIEW, Calif., Feb. 19, 2019 /PRNewswire/ -- Redis Labs, the home of Redis and provider of Redis Enterprise, today announced it has raised $60 million in Series E financing led by a new investor, Francisco Partners, a leading global technology-focused private equity firm. The round included participation by the company's existing investors, Goldman Sachs Private Capital Investing, Bain Capital Ventures, Viola Ventures, and Dell Technologies Capital. With this investment, Francisco Partners' Chief Investment Officer David Golob will join the Redis Labs Board of Directors and Operating Partner Eran Gorev will join as a board observer.
Redis Labs was founded in 2011 by Ofer Bengal (CEO) and Yiftach Shoolman (CTO) around the promise of open source Redis, to deliver instant experience to modern applications at any scale, by building their datasets with native data structures and serving their applications requests directly from memory. In July 2015, Salvatore Sanfilippo, the creator of Redis, joined the company as leader of open source development. The company has now raised $146 million in total funding to-date. With these funds, the company plans to accelerate its global go-to-market execution, invest further in the enthusiastic Redis community, and continue its leadership in delivering the highest performing, most efficient database platform for modern applications.
Redis Labs' commercial product, Redis Enterprise, is the world's fastest database, leveraging modern in-memory technologies such as NVMe and Persistent Memory to offer cost-effective deployment over multiple public clouds and on-premise data centers. Besides its native data structures, it features a variety of data modeling techniques, such as Streams, Graph, Document and Machine Learning, with a real-time search engine. The performance and flexibility of Redis has made it consistently one of the fastest-growing and most popular databases, including becoming the first to be launched more than one billion times on Docker Hub in 2018. Additionally, through strategic partnerships with Pivotal, Red Hat and others, the company has been able to drive further enterprise adoption and success with Redis Enterprise.
"The impact of the Redis platform is being experienced everywhere as enterprises look to modernize or build new applications," said Ofer Bengal, co-founder and CEO at Redis Labs. "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."
"Customers and partners alike tell us that Redis Labs has built the most robust and capable database solution for real-time computing across cloud, on-premise, and hybrid environments," said Matt Spetzler, partner and co-Head of Europe at Francisco Partners. "We are thrilled to be partnering with Redis Labs' team as the company scales up globally to meet the needs of the Internet economy."
About Redis Labs
Modern businesses depend on the power of real-time data. With Redis Labs, organizations deliver instant experiences in a highly reliable and scalable manner. Redis Labs is the home of Redis, the world's most popular in-memory database, and commercial provider of Redis Enterprise that delivers superior performance, matchless reliability and unparalleled flexibility for high-speed transactions, recommendation engines, data ingest, fraud mitigation, real-time indexing, session management and caching.
Redis Labs, ranked as a leader in top analyst reports on NoSQL, in-memory databases, operational databases, and database-as-a-service, is trusted by seven Fortune 10 companies, three of the four credit card issuers, three of the top five communication companies, three of the top five healthcare companies, six of the top eight technology companies, and four of the top seven retailers.
Redis has been voted the most loved database, rated the most popular database container, and #1 cloud database.
Media Contact:
Stephen Naventi
Redis Labs
[email protected]
SOURCE Redis Labs
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