Redis Labs raised $110 mn led by SoftBank and Tiger Global

Redis Labs, a real-time cloud analytics platform provider, has raised $110 million led by SoftBank Group Corp’s Vision Fund 2 and private equity firm Tiger Global Management.
VC funding in technology cosExisting investor TCV also participated in the round, bringing the net amount so far to $347 million, the company said on Wednesday.

The company’s other investors include Bain Capital Ventures, Francisco Partners, Goldman Sachs Growth, Viola Ventures and Dell Technologies Capital.

Founded in 2011 by Ofer Bengal and Yiftach Shoolman in Tel Aviv, Israel, Redis Labs’ platform helps organizations process, analyze and forecast data effectively. It has deployed over 1 million databases so far.

The Mountain View, California-based firm has more than 8,000 paying customers including MasterCard Inc, Dell Technologies Inc, Fiserv Inc, Home Depot Inc and Microsoft Corp.

Redis Labs’ products include in-memory database Redis and Redis Enterprise Cloud, a database-as-a-service offering. The company has an alliance with Microsoft to bring its Redis Enterprise-powered tiers to Azure Cache for Redis.

Japan’s SoftBank has made serial investments in multiple tech companies in the past few weeks, such as U.S. genetic diagnostics company Invitae Corp and Facebook-backed Indian social commerce startup Meesho.

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