- Additionally, Tiger, SoftBank, and TCV acquired additional ownership as part of a $200 million secondary transaction
- It will continue to invest in expanding the company’s global footprint, advancing its market-leading real-time data platform
Redis Labs has announced that 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
Ofer Bengal, Co-Founder and CEO at Redis Labs said, “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. Partnering with exceptional 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.”
Expanding the company’s global footprint
Founded in 2011 by Ofer Bengal (CEO) and Yiftach Shoolman (CTO), Redis Labs has now raised a net amount of $347 million. It will continue to invest in expanding the company’s global footprint, advancing its market-leading real-time data platform. The company’s existing investors include Bain Capital Ventures, Francisco Partners, Goldman Sachs Growth, Viola Ventures, TCV, and Dell Technologies Capital.
John Curtius, Partner at Tiger Global Management said, “Companies are increasingly looking for ways to leverage the efficiency and flexibility of the cloud to drive their business forward and Redis Labs is the best partner for them in this journey. Redis Labs has developed a real-time data platform to solve for low-latency requirements of business-critical applications and the go-to-market strategy to succeed alongside the cloud hyperscalers.”