This is the company s largest round to date. Its Series F last August featured six investors and raised $100 million, while Series E financing in February 2019 raised $60 million, and Series D funding in August 2017 raised $44 million. Funding rounds before that, which extended back to its inception in 2011, raised funds in the low-double digits. Past investors have included Bain Capital Ventures, Francisco Partners, Goldman Sachs Growth, Viola Ventures, TCV, and Dell Technologies Capital.
Redis Labs sponsors the open source Redis database project that uses NoSQL technology instead of traditional relational database structures. One of its biggest selling points is multi-model operation that supports an array of data structures natively in the database, including lists, bitmaps, and sorted sets. It also features module-based expansions for use cases, including search and graphing.
5 Companies That Came To Win This Week
For the week ending April 9, CRN takes a look at the companies that brought their ‘A’ game to the channel. By Rick Whiting April 09, 2021, 01:18 PM EDT
The Week Ending April
Topping this week’s Came to Win list is Google for the U.S. Supreme Court decision in Google’s favor in a long-running copyright lawsuit from Oracle.
Also making the list are Intel for debuting its long-awaited “Ice Lake” third-generation Xeon Scalable CPUs, next-generation database developer Redis Labs for an impressive nine-figure funding round, solution provider Pythian Services for a savvy acquisition that expands its SAP services capabilities, and Nutanix channel chief Christian Alvarez for winning the 2021 CRN Channel Madness Tournament of Chiefs.
Database Developer Redis Labs Snags $110M In Late-Stage Funding Round
Developer of the popular Redis open-source database achieves a market value of more than $2 billion with investments led by Tiger Global. By Rick Whiting April 07, 2021, 05:16 PM EDT
Open-source database software developer Redis Labs has raised $110 million in Series G Financing, the company said Wednesday, pushing its valuation over the $2 billion threshold.
The company will use the new funding to continue development of its real-time data platform, based on its popular in-memory database, as well as expand the company’s global footprint and boost customer support.
The additional financing brings Redis Labs total financing to $347 million, according to the Mountain View, Calif.-based big data company.
A memorial siren brought traffic to a halt in Israel on Thursday as it honored six million Jews killed in.
“SoftBank invests in many high-growth tech companies and at the end of the day is the largest tech investor in the world. Our connection to them will impact our success going forward,” noted Bar-El. “I think that SoftBank provides us with a strategic component that no one else can. These sums can create a market and cause disruption that VC funds just aren’t able to. Their aggression, if channeled correctly, can really help growth companies.”
SoftBank’s investment in both companies was at a significantly higher valuation compared to their previous funding rounds. It is estimated that SoftBank poured a total of $300 million into both companies. Trax raised funds at a $2.25 billion valuation compared to $1.1 billion in its previous round, while Redis saw its valuation double from around $1 billion to $2 billion.
$1 billion investment in Israeli high-tech in a single day this April
Two unicorns – Trax Image Recognition and Redis Labs helped push total funding for the first week of April to more than $1 billion.
TipRanks employees celebrate a $77 million funding round. Photo courtesy of TipRanks
Following on the heels of a month marked by mega investments and a quarter in which Israeli companies raised a record $5 billion, April seems set to meet or beat those fundraising achievements.
Some $1 billion in investments was reported on a single day of the first week of the month, indicating that that Q2/2021 is going to be a doozy.