Redis Labs, maker of an in-memory open source database of the same name, raises $110M Series G led by Tiger Global, at a valuation of $2B+
Paul Gillin / SiliconANGLE :
Context & Ripple Effects
Redis Labs has climbed steadily from its Series D led by Goldman Sachs in 2017 and its $60M Series E under Francisco Partners in 2019 — this $110M Series G more than doubles the total raised and puts the company above $2B. The round lands weeks after TigerGraph's $105M Series C, also led by Tiger Global, making databases one of the fund's most concentrated bets of early 2021.
First-order effects
- Redis Labs gains roughly $110M in fresh capital and a $2B+ mark, letting it push its commercial-services model for the open-source Redis store further upmarket against legacy relational vendors.
Second-order effects
- Fellow in-memory players like GigaSpaces — which raised just $12M a year earlier — now compete against an opponent with an order-of-magnitude larger war chest, pressuring them to raise or differentiate; the same dynamic pulled Yugabyte into a $188M Series C months later as open-source database peers matched the funding pace.
Third-order effects
- The round is a textbook entry in Tiger Global's COVID-era unicorn assembly line — a streak that later ran in reverse when the firm cut Superhuman's and DuckDuckGo's valuations by 45% and 72% in September 2023, meaning today's $2B+ mark is a paper number whose durability is genuinely uncertain.
The trend: Venture-scale capital is concentrating on open-source data-infrastructure vendors, with Tiger Global leading successive mega-rounds that set — and later re-price — their valuations.