Redis Labs Achieves 350 Percent Growth in the Enterprise

redby Angela Guess

According to a new release out of the company, “Redis Labs, the home of Redis, today announced 350 percent year over year revenue growth for its Redis Labs Enterprise Cluster (RLEC), downloadable software that supports on-premises enterprise Redis deployments. Redis Labs extended its enterprise growth with 600 new enterprise customer wins in the first half of 2016 across a wide range of sectors, including finance, retail, media, communications and transportation. Major corporations such as Groupon, TD Bank, Verizon, Hipchat, DBS, RingCentral, Twitch, Menards and flydubai now trust Redis Labs for their database needs.”

The release goes on, “Founded in 2011 by Ofer Bengal and Yiftach Shoolman, the company has over 6,200 enterprise customers and its Redis Cloud service exceeds 55,000 accounts. Redis Labs’ hyper growth within the enterprise follows a 45 percent increase in global headcount as well as significant new partnership engagements with Samsung, Pivotal, Databricks, Accenture, Infosys and Wipro. The first half of 2016 also marked ground-breaking Redis innovations including Redis Modules, Redis on Flash and integration with Apache Spark.”

It adds, “Additionally, Redis Labs raised a $14 million Series C investment, at a significantly increased valuation from the previous two rounds. Bain Capital Ventures and Carmel Ventures led this Series C round, with participation from other existing investors. With this new capital, Redis Labs will expand sales and marketing efforts to accelerate global customer acquisition.”

Read more at MarketWired.

Photo credit: Redis

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