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Database management firm Redis Labs Inc. today outlined a long-term vision for a real-time data platform that can transform the way modern applications are built and run, with an aim to enabling its customers to reimagine the digital experiences they can deliver.
The company detailed its vision at RedisConf 2021 running today and tomorrow, saying it’s adding integrated data models, better consistency, lower, submillisecond latency and more artificial intelligence to its platform.
Redis, which raised $100 million in a late-stage funding round just last week, sells a commercial version of an open-source in-memory database management system of the same name that’s best known for its high performance. The software can act as both a database and also a cache and message broker. It comes with built-in replication, a lightweight embeddable scripting language, a feature called least-recently-used cache eviction and customizable levels of on-disk persistence.
Tiger Global, SoftBank invest in cloud firm Redis Labs at $2b valuation
FILE PHOTO: Japan s SoftBank Group Corp Chief Executive Masayoshi Son bows his head after his presentation at a news conference in Tokyo, Japan, Nov. 5, 2018. REUTERS/Kim Kyung-Hoon/File Photo
April 8, 2021
SoftBank Group Corp’s Vision Fund 2 and private equity firm Tiger Global Management have invested in Redis Labs, a real-time cloud analytics platform provider, in a late-stage funding round valuing the firm at over $2 billion.
Existing investor TCV also participated in the round which raised $110 million, bringing the net amount so far to $347 million, the company said on Wednesday.
A memorial siren brought traffic to a halt in Israel on Thursday as it honored six million Jews killed in.
“SoftBank invests in many high-growth tech companies and at the end of the day is the largest tech investor in the world. Our connection to them will impact our success going forward,” noted Bar-El. “I think that SoftBank provides us with a strategic component that no one else can. These sums can create a market and cause disruption that VC funds just aren’t able to. Their aggression, if channeled correctly, can really help growth companies.”
SoftBank’s investment in both companies was at a significantly higher valuation compared to their previous funding rounds. It is estimated that SoftBank poured a total of $300 million into both companies. Trax raised funds at a $2.25 billion valuation compared to $1.1 billion in its previous round, while Redis saw its valuation double from around $1 billion to $2 billion.
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