Redis Labs raises $110 million

Chennai: Redis Labs announced it has closed $110 million in financing led by a new investor, Tiger Global, which brings the company’s valuation to more than $2 billion.

The company’s Series G round also includes participation from another new investor, SoftBank Vision Fund 2, and existing Redis Labs investor TCV.

Additionally, Tiger, SoftBank, and TCV acquired additional ownership as part of a $200 million secondary transaction.

“We founded Redis Labs with the idea that the future of the database market would be defined by performance, where Redis excels. Through the dedication of our team, Redis has become an enterprise-grade data platform to tackle nearly any real-time use case across every industry,” said Ofer Bengal, co-founder and CEO at Redis Labs.

“Partnering with new investors such as Tiger Global and SoftBank, in addition to the continued belief of our existing investors like TCV, validates our mission to make Redis the de facto real-time data platform companies choose to meet their customers’ expectations.”

 

NT Bureau