Redis Labs Secures $44 Million Funding Led by Goldman Sachs Private Capital Investing to Strengthen Database Leadership
MOUNTAIN VIEW, Calif., August 21, 2017-- Redis Labs, the home of Redis and provider of Redis Enterprise, today announced it has raised $44 million in Series D funding. This brings the company to $86 million in total funding to date. The 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 has experienced a momentous first half of 2017, achieving 70 percent year-over-year revenue growth in the most recent quarter, lauded among the top emerging big data vendors and companies that matter most in data. Redis, currently the fastest growing database of any kind (SQL or NoSQL), has been recognized as the most loved database in the latest survey of over 60,000 developers by Stack Overflow and as Technology of the Year by InfoWorld. This round will accelerate the company's momentum in go-to-market efforts, continue growing the ecosystem of channel and solution partners, drive innovation of Redis Enterprise platform, and catalyze Redis Labs' position as the preferred primary database among enterprises.
"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."
"We are excited to lead this funding round for Redis Labs," said Christian Resch, Executive Director at Goldman Sachs Private Capital Investing. "Redis Labs has established a market leadership position addressing some of the most demanding data management challenges at the largest enterprises. We look forward to participating in their continued growth and innovation."
"With DRAM availability in commodity servers having grown 50 to 70 percent CAGR over the last 10 years, it makes sense that your primary operational database should be an in-memory database," said Salil Deshpande, Managing Director at Bain Capital Ventures. "Particularly a database management system such as Redis Enterprise, which can seamlessly stitch together the DRAM, Flash, and NVRAM of hundreds of commodity servers, to allow operators to perfectly balance performance, cost, and transaction orthodoxy."
"We have seen tremendous business momentum at Redis Labs over the past few quarters," said Ronen Nir, General Partner at Carmel Ventures. "Enterprises and developers alike are starting to unveil the huge potential in this enterprise-grade, high-performance database. The best is yet to come."
Founded in 2011 by Ofer Bengal and Yiftach Shoolman, Redis Labs serves over 70,000 registered accounts and over 7,400 enterprise customers globally. Redis was created in 2009 by Salvatore Sanfilippo, who leads open source development at Redis Labs.
For more information on Redis Labs, please visit: https://redislabs.com/.
About Redis Labs
Redis Labs, home of open source Redis, the world's most popular in-memory database platform, provides Redis Enterprise, as a service in all major clouds, and as downloadable software. The high performance, true high availability and seamless scaling of Redis Enterprise powers e-commerce, social, personalization, IoT, metering, fraud detection and other real-time applications.
Redis Labs is consistently ranked as a leader in top analyst reports on NoSQL, in-memory databases, operational databases, and database-as-a-service. Its Redis Enterprise platform has been adopted by over 7,400 enterprises, including many Fortune 100 listed US companies such as three of the top four communications companies, two of the top three healthcare companies, and five of the top seven technology companies. Redis has been voted the most loved database, rated the #1 cloud database, #1 database on Docker, #1 NoSQL datastore, and fastest growing NoSQL database in the top ten. Founded in 2011 and backed by Bain Capital Ventures, Carmel Ventures and Goldman Sachs Private Capital Investing, Redis Labs is headquartered in Mountain View, Calif., with offices in Tel Aviv and London. For more information, visit RedisLabs.com or follow us at @RedisLabs.
About Goldman Sachs Private Capital Investing
Goldman Sachs Private Capital Investing ("PCI") is Goldman Sachs' investment platform dedicated to providing long term capital to growth and middle-market companies throughout Europe and Israel. PCI Invests $20 to $150 million per transaction in the form of common, preferred and structured equity.
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