Today we’re proud to announce that we’ve raised $9 million in Series A funds with participation from Bain Capital Ventures and Carmel Ventures. It’s a very exciting day for the Garantia Data team, our customers, and the entire open source Redis community. We’re also very excited to welcome two new board members to our team: Salil Deshpande from Bain Capital Ventures, and Ronen Nir from Carmel Ventures.
We will use the new funding to continue the development of our core offerings Redis Cloud and Memcached Cloud. We now have more than 1,000 paying customers that use Redis Cloud every day for seamless scalability, true high-availability, stable top performance and fully automated operations.
We were about to change our company name to Redis and even acquired the domain redis.com for that purpose; however, respecting a request by Slavatore Sanfillipo, the Redis creator, we decided to stick to Garantia Data.
Redis is now one of the fastest growing NoSQL databases and ranks among the top three chosen databases for new applications. According to 451 Research, the NoSQL market is expected to grow to $1.3 Billion in the next few years. This makes perfect sense to us as we see more and more developers choosing Redis for its many use cases, strong community and large ecosystem.
Our roots are in the open source community, and we want to continue to support and foster this growth. We believe that a rising tide lifts all boats and will continue to be a significant contributor to the open source Redis community. We’ve learned very well how to adapt Redis to a variety of enterprise needs and we will continue to develop and build upon the high level functionality and service that you would expect from our team!