Redis Labs, the popular in-memory database company, is set to expand its operations in India. Among other things, Redis Labs is mulling a plan to set up a development centre in India. Most likely in Bengaluru, at that.
In an exclusive chat with TechRadar, Redis Labs CEO Ofer Bengal said that "India is one of the fastest growing markets. We are looking at hiring Indian developers for our growing operations".
Ofer, who sits in Israel, said Redis started operating in India from about two years back. In this period Redis has seen plenty of uptake and that is what is making his company bullish about its prospects in India.
"The growth in India is driven by the rise in Google cloud. We work hand in hand with Google cloud and offer Redis Enterprise as a native service. We are looking very seriously at opening a development center in India," he said.
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What does Redis do?
Founded up by Ofer Bengal and another Israeli Yiftach Shoolman, Redis Labs sells software and cloud computing service based around open-source database. Redis recently launched AI capability as part of its bouquet of services.
Redis is known for open source platform-Redis and commercial solution Redis Enterprise. To put it in basic terms, Redis helps companies to manage, process and analyze their data, and use it to make predictions in real time, so as to improve customer experiences and drive their business forward.
Redis Enterprise allows teams to build performance, scalability, security, and growth into their applications. Designed for the cloud-native world, Redis Enterprise unifies data across hybrid, multi-cloud, and global applications, to maximize any business potential.
Redis Labs started as the provider of open source caching engine designed to reduce the time that applications need to access data stored in their main database.
It can now be used as a primary database too, with Redis Labs offering a range of premium features, including RedisAI for serving Artificial Intelligence (AI) models to the applications that are using them.
"With Redis, you can process millions of transactions per second with average latency of less than 1 millisecond. The response time is the most important in modern applications," Ofer said.
Redis charges based on two parameters – first is total size of the data (in gigabytes or terabytes). The second is how many transactions per second required processing power. Redis process that can support 25 gigabytes and 25,000 transactions per second.
Redis is hugely popular with developers, “There is no other database, SQL or NoSQL that comes even close,” Ofer said.
Redis' client list
Redis Labs has a tie-up with Microsoft Azure "to deliver the Redis Enterprise tiers on Azure Cache for Redis."
Redis Enterprise Cloud was launched as a native service on Google Cloud a year back, since then the service has had a phenomenal growth (close to 300%). Redis Labs is also an advanced technology partner with Amazon Web Services Partner Network.
"We sell to the largest companies in the world and are pioneers in the field of banking, insurance, retail and tech."
Ofer said Redis has more than 8,000 customers across sectors like finance, tech, and healthcare including Dell, MasterCard, Fiserv, Home Depot, Microsoft, Costco, Gap, Bank of America, Visa, Wells Fargo, American Express and Groupon.
In India, its customers include, among others, swiggy, Hike, Freshworks, Matrimony.com and Razorpay.
Ofer says Redis is a major enabler for online businesses, which are now growing in the Covid-19 world. "Traditionally we grew from 15% year over year in the past 3 years and we would like to maintain this even as the company grows larger," Ofer said.
Valued at over $1 billion
In August, Redis Labs managed to raise $100 million in a Series F funding round. It has investors like Goldman Sachs Growth, Viola Ventures, and Dell Technologies Capital, who all value the company at over $1 billion.
The company till date has raised $246 million.
Ofer said Redis Labs will continue to grow the global Redis community, expand its marketing and sales team and programs, and invest in the product and support services to deliver even more value for customers.
At a time when applications require real-time, intelligent data processing in the cloud, the need for Redis has become even more critical, Ofer said and added "we will continue to invest in strengthening our community footprint, advancing the Redis technology, and helping our users."
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