{"id":14278,"date":"2019-02-19T18:09:52","date_gmt":"2019-02-19T18:09:52","guid":{"rendered":"https:\/\/rsoftsolution.com\/blog\/redis-labs-raises-a-60m-series-e-round.html"},"modified":"2019-02-19T18:09:52","modified_gmt":"2019-02-19T18:09:52","slug":"redis-labs-raises-a-60m-series-e-round","status":"publish","type":"post","link":"https:\/\/www.rbsitsoftwaresolution.in\/blog\/redis-labs-raises-a-60m-series-e-round.html","title":{"rendered":"Redis Labs raises a $60M Series E round"},"content":{"rendered":"

Redis Labs<\/a>, a startup that offers commercial services around the Redis in-memory data store (and which counts Redis creator and lead developer Salvatore Sanfilippo among its employees), today announced that it has raised a $60 million Series E funding round led by private equity firm Francisco Partners<\/a>.<\/p>\n

The firm didn\u2019t participate in any of Redis Labs\u2019 <\/a> previous rounds, but existing investors Goldman Sachs Private Capital Investing, Bain Capital Ventures, Viola Ventures and Dell Technologies Capital all participated in this round.<\/p>\n

In total, Redis Labs has now raised $146 million and the company plans to use the new funding to accelerate its go-to-market strategy and continue to invest in the Redis community and product development.<\/p>\n

Current Redis Labs users include the likes of American Express, Staples, <\/a> Microsoft, Mastercard and Atlassian <\/a>. In total, the company now has more than 8,500 customers. Because it\u2019s pretty flexible<\/a>, these customers use the service as a database, cache and message broker, depending on their needs. The company\u2019s flagship product is Redis Enterprise, which extends the open-source Redis platform with additional tools and services for enterprises. The company offers managed cloud services, which give businesses the choice between hosting on public clouds like AWS, GCP and Azure, as well as their private clouds, in addition to traditional software downloads and licenses for self-managed installs.<\/p>\n

Redis Labs CEO Ofer Bengal told me the company\u2019s isn\u2019t cash positive yet. He also noted that the company didn\u2019t need to raise this round but that he decided to do so in order to accelerate growth. \u201cIn this competitive environment, you have to spend a lot and push hard on product development,\u201d he said.<\/p>\n

It\u2019s worth noting that he stressed that Francisco Partners <\/a> has a reputation for taking companies forward and the logical next step for Redis Labs would be an IPO. \u201cWe think that we have a very unique opportunity to build a very large company that deserves an IPO,\u201d he said.<\/p>\n

Part of this new competitive environment also involves competitors that use other companies\u2019 open-source projects to build their own products without contributing back. Redis Labs was one of the first of a number of open-source companies that decided to offer its newest releases under a new license<\/a> that still allows developers to modify the code but that forces competitors that want to essentially resell it to buy a commercial license. Ofer specifically notes AWS in this context. It\u2019s worth noting that this isn\u2019t about the Redis database itself but about the additional modules<\/a> that Redis Labs built. Redis Enterprise itself is closed-source.<\/p>\n

\u201cWhen we came out with this new license, there were many different views,\u201d he acknowledged. \u201cSome people condemned that. But after the initial noise calmed down \u2014 and especially after some other companies came out with a similar concept \u2014 the community now understands that the original concept of open source has to be fixed because it isn\u2019t suitable anymore to the modern era where cloud companies use their monopoly power to adopt any successful open source project without contributing anything to it.\u201d<\/p>\n

Article source: http:\/\/feedproxy.google.com\/~r\/techcrunchIt\/~3\/TZD59vIl0_A\/<\/p>","protected":false},"excerpt":{"rendered":"

Redis Labs, a startup that offers commercial services around the Redis in-memory data store (and which counts Redis creator and lead developer Salvatore Sanfilippo among its employees), today announced that <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[19],"tags":[25],"class_list":["post-14278","post","type-post","status-publish","format-standard","hentry","category-enterprise-software","tag-enterprise"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t