By Reuters Staff
2 Min Read
(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.
Cloud firm Redis Labs valued at $2 bil as SoftBank, Tiger Global invest japantoday.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from japantoday.com Daily Mail and Mail on Sunday newspapers.
The logo of SoftBank Group Corp is displayed at SoftBank World 2017 conference in Tokyo, Japan, July 20, 2017. REUTERS/Issei Kato
Redis Labs, a real-time cloud analytics platform firm, said on Wednesday it has raised $110 million in its Series G round from investors including SoftBank Group Corp’s Vision Fund, valuing the firm at over $2 billion.
The latest round, with funding from new investors Vision Fund and Tiger Global Management and existing investor TCV, brings the net amount raised by Redis Labs so far to $347 million.
The company’s investors include Bain Capital Ventures, Francisco Partners, Goldman Sachs Growth, Viola Ventures and Dell Technologies Capital.
Redis Labs Valued at Over $2 Billion in Latest Funding From SoftBank, Others businessinsider.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businessinsider.com Daily Mail and Mail on Sunday newspapers.
Business has exploded amid the Covid-19 pandemic, he says.
The app, which launched in 2017, has grown its library of celebrities (think Snoop Dogg, NFL legend Drew Brees Kevin O Leary and Steve Harvey) to over 40,000. In 2020, the business reached a milestone of 2 million downloads, 1.3 million Cameos recorded, and pulled in $100 million in sales (75% of which went to Cameo talent), according to the company.
Baron App, Cameo s parent company, is now valued at $1 billion after raising a $100 million in funding from new investors like SoftBank Group Corp s Vision Fund, professional skateboarder Tony Hawk and Alphabet Inc., TheWall Street Journal recently reported.
Galanis, a former trader and LinkedIn account executive, is also managing a new staff size of about 200 employees remotely.