Redis Labs has raised $100 million in Series E funding with inclusion from new and existing investors, according to a press release. Redis has now earned more than $246 million in funding since its founding in 2011, and its newest capital injection gives the San Francisco-based database provider a valuation of $1 billion. Redis will use the funding to continue investing its product and support services, as well as expand go-to-market teams and programs.
Redis Labs is best known for its Redis Enterprise, a database product that takes advantage of modern in-memory technologies like NVMe and Persistent Memory to provide deployment over cloud and on-prem data centers. The solution features native data structures and a variety of data modeling techniques such as streams, graph, document and machine learning with a real-time search engine. Redis has also had considerable success entering strategic partnerships with vendors such as Pivotal and Red Hat.
2020 has been a whirlwind year for Redis highlighted by its signing of a strategic alliance with Microsoft Azure for making Redis Enterprise the top tier of Azure Cache for Redis. Its Enterprise Cloud service for Google Cloud experienced over 300 percent growth in two quarters as well. Redis also achieved Advanced Technology Partner status with Amazon Web Services Partner Network and launched RedisAI for interfencing AI requests with its database.
In a media statement about the news, Redis Labs co-founder and CEO Ofer Bengal said: “The unprecedented conditions brought on by COVID-19 have accelerated business investments in building applications that require real-time, intelligent data processing in the cloud. During this time, Redis has become even more critical to our customers, partners, and community. We will continue to invest in strengthening our community footprint, advancing the Redis technology, and helping our users to do more with Redis.”
Redis Labs was recently included in our list of 10 Data Management Vendors We’re Tracking from the DBTA 100 2020.