Israeli big data co Redis Labs raises $44m

Ofer Bengal and Yiftach Shoolman Photo: PR

Goldman Sachs led the round in the database management system developer, which has raised $86 million since it was founded in 2011.

Israeli big data company Redis Labs announced that it has raised $44 million in a Series D financing round led by new investor Goldman Sachs Private Capital Investing and existing investors Bain Capital Ventures and Carmel Ventures, with participation from Dell Technologies Capital. The company has raised $86 million to date including this latest financing round.

Founded in 2011 by Ofer Bengal and Yiftach Shoolman, Redis Labs serves over 70,000 registered accounts and over 7,400 enterprise customers globally. Based in Tel Aviv, the company provides a database management system marketed as SQL or NoSQL as open source software or as a service using cloud computing. In 2016, Redis Labs was chosen as one of "Globes" 16 most promising startups.

Bengal said, “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. 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.”

Goldman Sachs Private Capital Investing Christian Resch executive director said, “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% 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.”

Carmel Ventures general partner Ronen Nir said, “Enterprises and developers alike are starting to unveil the huge potential in this enterprise-grade, high-performance database. The best is yet to come.”

Published by Globes [online], Israel business news - www.globes-online.com - on August 22, 2017

© Copyright of Globes Publisher Itonut (1983) Ltd. 2017

Ofer Bengal and Yiftach Shoolman Photo: PR
Ofer Bengal and Yiftach Shoolman Photo: PR
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