Business

Redis Raises USD 110 Mn From Tiger Global, Softbank, TCV At Over USD 2 Billion Valuation


Open source database firm Redis Labs on Wednesday said it has raised USD 110 million from Tiger Global, Softbank Vision Fund 2 and TCV.


Reddis CEO Ofer Bengal said the company will continue to expand its presence in India and invest in building product development as well as a sales team in the country.


Investors were chasing us and we decided at this valuation it makes sense for us to go for fund raise.


Redis Labs has now raised a net amount of USD 347 million and plans to continue to invest in expanding the company's global footprint, advancing its market-leading real-time data platform, and delivering world-class customer support.


India has a huge talent pool of software engineers but this plan is not new,' Bengal said.


Reddis customers in India include ACL Mobile, Freshworks, Hike, HolidayMe, Matrimony.com, Razorpay, MyTeams11 Sharechat, SonyLiv, among others.






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