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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.
Elastic announced in January that it would no longer offer its Elasticsearch or Kibana software under the Apache 2.0 license, a standard set of terms and conditions for how open source software use. Instead, users had to choose either its Elastic License or the Server Side Public License, a software license created by the database company MongoDB.
The company said it made this change to protect its code from Amazon Web Services, though it sparked criticism in the developer community for muddying the waters of the open source software movement and left many developers feeling frustrated or confused.
After weeks of planning, Elastic introduced a second version of its Elastic License on Tuesday that is more straightforward and permissive than its previous one, though it still has certain use limitations.