With the new funding, Redis Labs said that it will continue to invest in expanding the company’s global footprint, advancing its market-leading real-time data platform, and delivering world-class customer support
Database software startup Redis Labs has raised $110 million in a Series G round led by new investors Tiger Global Management and SoftBank Vision Fund 2, at a valuation of over $2 billion, it said on Wednesday. Existing investors TCV also participated in the round. As part of the transaction, Tiger, SoftBank and TCV picked up additional stakes in a $200 million secondary transaction.
Founded in 2011 by Ofer Bengal and Yiftach Shoolman, Redis Labs has so far raised $347 million. It is also backed by Bain Capital Ventures, Francisco Partners, Goldman Sachs Growth, Viola Ventures, TCV and Dell Technologies Capital.
Redis Labs will invest in expanding its global footprint, advancing its real-time data platform. “We founded Redis Labs with the idea that the future of the database market will be defined by performance. 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 Bengal, chief executive, 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," he added.
Globally, Redis Labs has over 8,000 customers, including Mastercard, Microsoft, Home Depot, Dell, Fiserv, Costco, Gap and Groupon.