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SoftBank : Redis Labs valued at over $2 billion in latest funding from SoftBank, others
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By Reuters Staff
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(Reuters) - SoftBank Group Corp’s Vision Fund 2 and private equity firm Tiger Global Management have invested in Redis Labs, a real-time cloud analytics platform provider, in a late-stage funding round valuing the firm at over $2 billion.
Existing investor TCV also participated in the round which raised $110 million, bringing the net amount so far to $347 million, the company said on Wednesday.
The company’s other investors include Bain Capital Ventures, Francisco Partners, Goldman Sachs Growth, Viola Ventures and Dell Technologies Capital.
Founded in 2011 by Ofer Bengal and Yiftach Shoolman in Tel Aviv, Israel, Redis Labs’ platform helps organizations process, analyze and forecast data effectively. It has deployed over 1 million databases so far.
Redis Labs raises $110M in new round, valuation reaches $2B
By IANS |
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New Delhi, April 7 : Database company Redis Labs on Wednesday said it has closed $110 million (about Rs 818 crore) 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.
Founded in 2011 by Ofer Bengal (CEO) and Yiftach Shoolman (CTO), Redis Labs has now raised a net amount of $347 million.
Israeli co Redis Labs raises $110m at over $2b valuation
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SoftBank s Vision Fund 2 steps up to boost the coffers of NoSQL database biz
Lindsay Clark Wed 7 Apr 2021 // 16:27 UTC Share
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Redis Labs, a commercial backer of the open-source key-value store database Redis, has secured $110m in funding, with backers including Softbank Vision Fund 2.
The Series G round values the company at around $2bn and is led by Tiger Global, a private equity firm with a hedge fund background, and includes existing investor TCV. The three investors will separately acquire additional ownership as part of a $200m secondary transaction.
The open-source Redis database has been making waves of late and was named the most popular database on Amazon Web Services in a Sumo Logic study of 2,100 companies. Its popularity as a database, a cache, and a message broker in modern cloud architecture provides an explanation for its position in the AWS ranking.
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