Total amount raised
$356.8 Millions
Latest funding date
Location
Title
Redis has successfully raised significant funding over multiple rounds, attracting a diverse group of investors. The platform is renowned for its high-speed data capabilities, serving a wide range of industries.
Keep reading to explore the intricacies of Redis's fundraising journey and the investors backing this innovative platform.
What Is Redis?
Redis, founded in 2011 by Ofer Bengal and Yiftach Shoolman, is headquartered in San Francisco, California. The company is renowned for its real-time data platform, which offers cloud and on-premises databases for caching, vector search, and more.
With a workforce of 501-1000 employees, Redis has become a pivotal player in the tech industry, helping over 10,000 customers build, scale, and deploy applications. The platform is celebrated for its speed and efficiency, setting a new standard for application performance.
Redis's suite of products includes Redis Cloud, Redis for AI, Redis Software, and Redis Data Integration, along with tools like Redis Insight. These offerings cater to a wide range of industries, making Redis a versatile solution for modern digital businesses.
How Much Funding Has Redis Raised?
- Seed Round
- Amount Raised: $600K
- Date: April 2011
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Initial funding to develop the core technology and establish the company.
- Seed Round
- Amount Raised: $3M
- Date: August 2012
- Lead Investors: TheTime, Zohar Gilon
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate product development and expand the team.
- Series A
- Amount Raised: $9M
- Date: November 2013
- Lead Investors: Bain Capital Ventures, Viola Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance the product offering.
- Series B
- Amount Raised: $15M
- Date: June 2015
- Lead Investors: Bain Capital Ventures, Viola Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and improve infrastructure.
- Series C
- Amount Raised: $14M
- Date: July 2016
- Lead Investors: Bain Capital Ventures, Viola Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support rapid growth and enter new markets.
- Series D
- Amount Raised: $44M
- Date: August 2017
- Lead Investors: GS Growth
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product capabilities and expand globally.
- Series E
- Amount Raised: $60M
- Date: February 2019
- Lead Investors: Francisco Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To drive innovation and increase market penetration.
- Series F
- Amount Raised: $100M
- Date: August 2020
- Lead Investors: Bain Capital Ventures, TCV
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support product development and expand customer base.
- Series G
- Amount Raised: $110M
- Date: April 2021
- Lead Investors: Tiger Global Management
- Valuation at Round: More than $2 billion
- Motivation Behind the Round: To expand global footprint and advance the real-time data platform.
- Secondary Market
- Amount Raised: $1.2M
- Date: December 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to early investors and employees.
Redis has raised a total of $356.8M with a current valuation of more than $2 billion.
Key Investors
- Tiger Global Management
- Details: Tiger Global Management is a leading global investment firm that focuses on private and public companies in the technology, software, and internet sectors. They led the Series G financing round for Redis, acquiring additional ownership through a $200 million secondary transaction.
- Investment Focus Areas: Technology, software, internet sectors.
- Notable Investments: Facebook, LinkedIn, Spotify, Stripe.
- SoftBank Vision Fund 2
- Details: SoftBank Vision Fund 2 is a venture capital fund that invests in technology companies with significant growth potential. They participated in the Series G round for Redis and acquired additional ownership through a $200 million secondary transaction.
- Investment Focus Areas: AI, robotics, IoT, telecommunications, biotechnology.
- Notable Investments: Uber, WeWork, ByteDance.
- TCV
- Details: Technology Crossover Ventures (TCV) is a leading provider of growth capital to technology companies. They are an existing investor in Redis and participated in the Series G round, acquiring additional ownership through a $200 million secondary transaction.
- Investment Focus Areas: Technology, internet, software companies.
- Notable Investments: Netflix, Facebook, Spotify.
- Bain Capital Ventures
- Details: Bain Capital Ventures is the venture capital arm of Bain Capital, investing in early to growth-stage technology companies. They are an existing investor in Redis.
- Investment Focus Areas: Fintech, healthcare, infrastructure, SaaS.
- Notable Investments: LinkedIn, DocuSign, Jet.com.
- Francisco Partners
- Details: Francisco Partners is a leading global private equity firm that specializes in investments in technology and technology-enabled businesses. They are an existing investor in Redis.
- Investment Focus Areas: Technology, technology-enabled services.
- Notable Investments: MyHeritage, GoodRx, Redis Labs.
What's Next for Redis?
Redis stands at the cusp of significant opportunities, poised to expand its global footprint and advance its real-time data platform. With a valuation exceeding $2 billion and a robust customer base, including 31% of the Fortune 100, the company is well-positioned to leverage cloud efficiency and AI applications to transform the database market. The growing demand for low-latency solutions and real-time data analytics further underscores the vast potential ahead.
Future fundraising seems likely as Redis continues to attract substantial investment, driven by its impressive growth and strategic partnerships with cloud giants like AWS, Google Cloud, and Microsoft Azure. However, the company must navigate challenges such as intense competition, maintaining high performance, and ensuring data security. As Redis scales its operations, these hurdles will be critical to address to sustain its momentum and market leadership.
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