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. Existing investors TCV also participated in the round. As part of the fund-raise deal, Tiger, SoftBank and TCV picked up additional stakes in a $200 million secondary transaction.
Redis Labs, founded in 2011 by Ofer Bengal and Yiftach Shoolman, 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. Globally, Redis Labs has over 8,000 customers, including Mastercard, Microsoft, Home Depot, Dell, and Gap.
“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.