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What's driving the never-ending cloud startup boom

What's driving the never-ending cloud startup boom
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Redis reinvents itself as a real-time data platform, with an AI kicker

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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. ....

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$110M late-stage funding vaults Redis Labs valuation past $2 billion

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Less than eight months after closing a $100 million late-stage funding round that valued the company at more than $1 billion, Redis Labs Inc. is further bulking up its coffers with $110 million in financing led by a new investor, Tiger Global Management LLC.
The infusion brings Redis’s total funding to $347 million and its valuation to more than $2 billion. The company said it will use the investment to expand its global reach and support. Redis’ existing investors include blue-chip venture firms Bain Capital Ventures LP, Francisco Partners Management LLC, Goldman Sachs Group Inc.’s Growth fund and Dell Technologies Inc.’s Dell Capital. ....

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Predictions 2021: Here's what's coming in enterprise technology

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In our 2020 Enterprise Technology Predictions post, we said that organizations would slow down experimentation this year and begin to operationalize their digital transformation proof-of-concepts. We also said that, based on spending data, cybersecurity companies such as CrowdStrike Holdings Inc. and Okta Inc. were poised to rise above the rest in 2020 along with an accelerated pace of cloud migrations. And we said the S&P 500 would surpass 3700 in 2020.
Little did we know that a pandemic would make these predictions a virtual lock. And of course, COVID-19 blew us out of the water in some others, such as our prediction that information technology spend would increase 4% in 2020, when in reality we have it dropping by 4% to 5%. We made a number of other calls and did pretty well – but we’ll let you review last year’s predictions at your leisure to see how we did. ....

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"Israeli airport security confiscated our passports and took us straight to 'corona-hostels,'" recounts returning tech exec

After Israeli tourists returned from the U.K. last week, passengers were carted off their flight and taken directly to hotels, known as corona-hostels, to be quarantined. Israel has entered another lockdown, due to fears over a new Covid-19 (coronavirus) strain believed to have originated in Britain. Calcalist spoke with Ofer Bengal, the CEO of Redis Labs, who was one of the passengers whisked off to a Jerusalem hotel, where he was holed up and attempted to work remotely.
“Suddenly people covered head-to-toe in white coats, like in the movies, got on the plane. They put us on buses heading straight to Jerusalem, and then put us in quarantine. They confiscated our passports and returned them only once we were already in the hotel. It was shocking, I can’t describe it, it was like in the worst countries out there. It was like a science fiction movie,” Bengal recounted. The founder and CEO of Redis Labs Inc. an Israeli startup that has recently reached unicorn-status, d ....

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