Israeli big data co Redis Labs raises $60m

Ofer Bengal and Yiftach Shoolman Photo: PR

Redis Labs’ commercial product, Redis Enterprise, is the world's fastest database, leveraging modern in-memory technologies.

Israeli big data company Redis Labs today announced it has raised $60 million in Series E financing round led by Francisco Partners and with the participation of previous investors Goldman Sachs Private Capital Investing, Bain Capital Ventures, Viola Ventures, and Dell Technologies Capital. Francisco Partners’ Chief Investment Officer David Golob will join the Redis Labs Board of Directors and Operating Partner Eran Gorev will join as a board observer.

The company has raised $146 million with this latest funding, including a $44 million financing round in August 2017.The company will use the funds to speed up international market expansion, invest further in the Redis community, and continue its leadership in delivering the highest performing, most efficient database platform for modern applications.

Redis Labs was founded in 2011 by CEO Ofer Bengal and CTO Yiftach Shoolman (CTO) to deliver instant experience to modern applications at any scale, by building their datasets with native data structures and serving their applications requests directly from memory. In July 2015, Salvatore Sanfilippo, the creator of Redis, joined the company as leader of open source development.

Redis Labs’ commercial product, Redis Enterprise, is the world's fastest database, leveraging modern in-memory technologies such as NVMe and Persistent Memory to offer cost-effective deployment over multiple public clouds and on-premise data centers.

Bengal said, “The impact of the Redis platform is being experienced everywhere as enterprises look to modernize or build new applications. This financing enables us to accelerate our strategy to deliver the fastest and most efficient database to the world and enable instant experiences for any modern application.”

“Customers and partners alike tell us that Redis Labs has built the most robust and capable database solution for real-time computing across cloud, on-premise, and hybrid environments,” said Matt Spetzler, partner and co-Head of Europe at Francisco Partners. “We are thrilled to be partnering with Redis Labs’ team as the company scales up globally to meet the needs of the Internet economy.”

Published by Globes, Israel business news - en.globes.co.il - on February 19, 2019

© Copyright of Globes Publisher Itonut (1983) Ltd. 2019

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