US-based database software producer Redis Labs received $60m yesterday in a series E round featuring Dell Technologies Capital, the corporate venturing subsidiary of computing hardware producer Dell.
The round was led by private equity firm Francisco Partners and included investment banking firm Goldman Sachs’ Private Capital Investing unit as well as Bain Capital Ventures, the venture capital branch of private equity firm Bain Capital, and VC firm Viola Ventures.
David Golob, chief investment officer at Francisco Partners, will join Redis’ board of directors in conjunction with its investment, while operating partner Eran Gorev will come in as a board observer.
Redis provides an in-memory database that helps customers modernise or build new applications where native data structures are used for the datasets. The company also provides a commercial-focused product called Redis Enterprise which it claims is the world’s fastest database.
The company has now raised a total of $146m since it was founded in 2011, having closed a $44m series D round in August 2017 that included Dell Technologies Capital, Goldman Sachs Private Capital Investing, Carmel Ventures and Bain Capital Ventures.
Carmel Ventures and Bain Capital Ventures had previously co-led a $14m series C for Redis in 2016, participating alongside another existing backer, Silicon Valley Bank, and private investor Zohar Gilon.
Redis co-founder and chief executive Ofer Bengal said: “The impact of the Redis platform is being experienced everywhere as enterprises look to modernise or build new applications.
“This financing enables us to accelerate our strategy to deliver the fastest and most efficient database to the world and enable instant experiences for any modern application.”