Redis Labs valued at over $2 bln in latest funding from SoftBank, others

Redis Labs, a real-time cloud analytics platform firm, said on Wednesday it has raised $110 million in its Series G round from investors including SoftBank Group Corp's Vision Fund, valuing the firm at over $2 billion.

Reuters | Updated: 07-04-2021 18:33 IST | Created: 07-04-2021 18:33 IST
Redis Labs valued at over $2 bln in latest funding from SoftBank, others

Redis Labs, a real-time cloud analytics platform firm, said on Wednesday it has raised $110 million in its Series G round from investors including SoftBank Group Corp's Vision Fund, valuing the firm at over $2 billion. The latest round, with funding from new investors Vision Fund and Tiger Global Management and existing investor TCV, brings the net amount raised by Redis Labs so far to $347 million.

The company's investors include Bain Capital Ventures, Francisco Partners, Goldman Sachs Growth, Viola Ventures and Dell Technologies Capital. Founded in 2011 by Ofer Bengal and Yiftach Shoolman in Tel Aviv, Israel, Redis Labs' platform helps organizations process, analyze and forecast data effectively with its in-memory database. It acts as a custodian for open source database Redis.

The Mountain View, California-based firm has more than 8,000 paying customers including MasterCard Inc, Dell Technologies Inc, Fiserv Inc, Home Depot Inc and Microsoft Corp. Redis Labs' revenue grew by 54% over the last three years ended Jan. 3, 2021.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)


TRENDING

OPINION / BLOG / INTERVIEW

Viral variants and vaccine nationalism pose two-pronged threat to Covid victory

... ...

Tracking Fintech during COVID-19: Harnessing power of technology

Its abundantly clear now that as fintech cements its place in the financial sector, accelerated further by the COVID-19 pandemic, it could open the sector to new possibilities by harnessing the power of technology to deliver financial ...

Tectonic turns: How technology shaped healthcare over the decades

Tracing an episodic evolution, with technology at the interface of human and his health....

World Water Day sees crises of inequality in countries both rich and poor

... ...

Videos

Latest News

Voting begins for first phase of UP Panchayat polls

Voting for the first of the four-phase Uttar Pradesh panchayat elections, commenced on Thursday in 18 districts. Polling, with ballot papers, began from 7 am and will go on till 6 pm with COVID-19 protocols in place. Vijay Kumar Mishra, Res...

TSMC's Q1 profit up 19%, beats market estimates

Taiwans TSMC posted a 19.4 rise in quarterly net profit on Thursday, Reuters calculations showed, boosted by demand for high-end chips from people splurging on devices during COVID-19 and from Apple Incs new iPhone.Net profit for January-Ma...

Cambodia orders strict 2-week lockdown of Phnom Penh

Cambodias leader ordered a strict stay-at-home two-week lockdown in the capital Phnom Penh starting Thursday to slow a surge in coronavirus cases, warning we will die unless we act responsibly. With the vaccination campaign still at an earl...

Plea in SC seeks direction to RBI for incentive packages, interim relief for small scale business commercial borrowers

A writ petition has been filed before the Supreme Court seeking a direction to the RBI to issue instructions and guidelines to initiate incentive packages and interim relief for the commercial borrowers attached into small scale business in...

Give Feedback