Redis Labs, Maker Of Database Software, Hits $1 Billion Valuation With New Fundraise

Database software startup Redis Labs is Silicon Valley’s latest unicorn thanks to a new funding round that comes on the heels of strong pandemic momentum.

The Mountain View, California company announced on Tuesday that it has raised a fresh $100 million to bring its valuation north of $1 billion. The Series F round is led by TCV and longtime investor Bain Capital Ventures, with participation from Francisco Partners, Goldman Sachs Growth, Viola Ventures and Dell Technologies Capital. Redis Labs has now raised nearly $250 million in total since it was founded nine years ago, and CEO Ofer Bengal says the fundraise positions it to be one to two years away from IPO readiness.