Redis Labs This story is available exclusively to Insider subscribers. Become an Insider and start reading now. Database startup Redis Labs announced a $110 million Series G round at a valuation over $2 billion. Redis Labs plans to go public within a year, and has hit $100 million in annual recurring revenue. Redis Labs is forging more partnerships with Amazon Web Services, Microsoft Azure, and Google Cloud. Redis Labs, the startup behind the popular Redis database software, has surpassed a $2 billion valuation — about double the over $1 billion it was last valued at in August — as it prepares for an IPO as soon as this year.