Goldman Sachs Invests in Israeli Data Management Startup Redis Labs, Report

Redis Labs will raise $ 25-30 million. Current investors include Mitt Romney's Capital Partners, Israeli Carmel Ventures, Dell Capital and private investors

 

Radis L-R Yiftach Shulman, and CEO Ofer Bengal

 

Israeli data management company Redis Labs is raising $ 25-30 million, Business newspaper Calcalist reported.

This is the third and most significant company’s round of financing. The company raised $42 million to date. Goldman Sachs will also participate in the current round. Current investors in the company include Mitt Romney’s Bain Capital, Israeli venture capital fund Carmel Ventures of the Viola Group, Dell Capital of the storage giant and private investors.

According to estimates, Redis Labs will complete the financing round in the coming weeks, and additional investors may join it.

The company will use the current round of funding for investments and development, which will enable it to accelerate its growth. In the past, company executives said that it tripled its revenues every year. The field in which the company operates is considered one of the fastest growing areas in the computing world.

Founded in 2011 by CEO Ofer Bengal, and CTO Yiftach Shulman, Redis Labs developed a fast database management technology based on Radis – a popular open source in RedS Cloud databases called NoSQL.

Radis is a hybrid database service located in the cloud and the corporate information cluster.

The hybrids allow the company’s customers to achieve faster response times, greater availability and optimal management of larger amounts of data.

The uniqueness of the platform lies in the fact that it is the only one that is run with the same disk memory and that its distributed construction enables 1,000 times faster than other data bases that are run by a disk such as Cassandra or CouchBase.

The creator of Redis Salvatore San Filippo joined the company last year so that today the company is the de facto factor behind Redis.

In addition to Redis Cloud, the company offers additional services such as dedicated systems for programmers.

Today, the company employs 100 people in its offices in Ramat Hahayal in Tel Aviv and Silicon Valley in the United States.

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