Strengths
- 2021 Series G at more than $2B valuation.
- 2020 Series F at more than $1B valuation.
- 2024 license shift to RSALv2/SSPLv1.
- CEO transition to Rowan Trollope effective 2023.
Diligence report
Redis
Redis Startup Diligence Research Report
Redis is a scaled enterprise infrastructure company with broad adoption and hyperscaler distribution; diligence should test whether enterprise features, managed operations, and AI/vector expansion defend revenue against Valkey and cloud-native Redis-compatible substitutes.
Company profile
Redis Startup Diligence Research Report
Eligible for a public-source private-unicorn report. Redis appears active and privately financed, with strong public evidence of $100M+ rounds and a more than $2B 2021 valuation, but current valuation, financial quality, cap table, and post-2024 license/Valkey impact are not publicly verifiable.
- Website
- redis.io
- Sector
- Enterprise Tech / real-time data platform / in-memory database
- Geography
- United States / Mountain View and San Francisco public signals; global cloud operations
- Stage
- Private unicorn / late-stage venture-backed company
- Known aliases
- Redis Ltd., Redis Labs, Redis Inc., Redis Enterprise, Redis Cloud, Redis Software, Redis Open Source
- Report version
- 1.0
- Timezone
- UTC
Executive summary
Risks
- Financial opacity and stale valuation.
- Licensing backlash and Valkey fragmentation.
- Hyperscaler coopetition and channel conflict.
Gaps
- Audited financials, ARR bridge, gross margin, burn, cash, debt, backlog, and AR aging.
- Current cap table, liquidation preferences, option pool, secondary-sale terms, and latest valuation support.
- Top-customer revenue concentration, retention/churn after the license change, and customer references.
- Cloud marketplace contracts, revenue share, cloud COGS, and supplier concentration.
- Full legal/IP/compliance schedules, including license exceptions, litigation, insurance, and security reports.
Risk register
R-001: Financial opacity and stale valuation
Public valuation evidence is stale and audited financials, ARR quality, cash, debt, and burn are private.
Diligence request: Require audited financials, ARR bridge, cash/burn, 409A, and latest financing evidence.
R-002: Open-source licensing backlash and Valkey fragmentation
Redis moved future releases to source-available licenses and Valkey launched with major vendor support.
Diligence request: Review post-2024 churn, contributor metrics, customer objections, and Valkey displacement.
R-003: Hyperscaler coopetition
AWS, Google Cloud, and Microsoft are channels/partners while also operating or marketing Redis/Valkey-compatible substitutes.
Diligence request: Review cloud agreements, marketplace economics, co-sell pipeline, and conflict history.
R-004: Customer concentration and retention quality unknown
Public logos and stale aggregate customer metrics do not reveal ARR concentration, renewal risk, or post-license-change churn.
Diligence request: Request top-customer schedule, NRR/GRR cohorts, churn reasons, and reference calls.
R-005: Commodity compatibility and product differentiation pressure
Valkey, hyperscaler services, Dragonfly, and other platforms can compete on compatibility, performance, procurement, and price.
Diligence request: Benchmark real workloads and validate enterprise feature attach rates and switching costs.
R-010: Financing and cap-table complexity
Multiple preferred rounds and a secondary transaction likely created rights and liquidation preferences not visible publicly.
Diligence request: Request charter, investor rights, liquidation waterfall, option ledger, debt, and secondary documents.
R-006: Cloud infrastructure and marketplace dependency
Redis Cloud and distribution appear materially dependent on major cloud providers, but cloud COGS and supplier concentration are not public.
Diligence request: Request cloud spend, reserved commitments, SLA history, marketplace fees, and vendor terms.
R-012: AI/vector roadmap competition
Redis is expanding into AI/vector/RAG workloads where competition is intense and public adoption data is limited.
Diligence request: Request AI/vector ARR, pipeline, win/loss, benchmarks, and roadmap milestones.
01Financial Information
Strong private financing evidence through 2021, but current financials and cap table are not public.
I.A Annual and quarterly financial information for the past three years
not publicly verifiable confidence: medium
Only stale company-reported traction metrics are public; audited statements and core schedules are private.
Evidence gaps
- Audited financials, ARR bridge, revenue by product/channel/geography, cash, debt, backlog, AR aging.
Hidden risks
- Stale metrics may hide post-2024 churn or margin pressure.
Follow-up questions
- Provide monthly management accounts and QoE package.
| metric | public value | period | request |
|---|---|---|---|
| Revenue CAGR | >54% | Three years ended 2021-01-31 | Audited revenue and ARR bridge |
| Paying customers | >8,000 | 2021 release | Current paid roster and definition |
| Fortune 100 penetration | 31% | 2021 release | Current active contracts and ARR |
| Net retention | >120% | 2021 release | Current NRR/GRR cohorts |
| Gross margin, burn, cash, backlog, AR aging | Not public | FY2024-FY2026 | Management accounts and QoE |
I.B Financial projections
not publicly verifiable confidence: low
No public three-year projections or assumption detail was found.
Evidence gaps
- Forecast by product, geography, segment, customer cohort, margin, capex, working capital, and financing needs.
Hidden risks
- Valkey and cloud substitution may alter growth assumptions.
Follow-up questions
- Provide base/upside/downside cases with Valkey sensitivity.
I.C Capital structure
not publicly verifiable confidence: medium
Investors are public, but share count, liquidation stack, options, debt, warrants, and secondary terms are not.
Evidence gaps
- Current cap table, investor rights, liquidation preferences, option ledger, secondary-sale documents.
Hidden risks
- Preferred terms may affect common-equity value.
Follow-up questions
- Provide pro forma fully diluted cap table and financing documents.
| stakeholder | public position | diligence caveat |
|---|---|---|
| Tiger Global | New lead investor in 2021 Series G | Ownership, rights, and preferences not public |
| SoftBank Vision Fund 2 | New Series G participant | Rights and stake not public |
| TCV | Existing investor; 2021 participant; 2020 co-lead | Secondary transaction detail not public |
| Bain, Francisco, Goldman, Viola, Dell | Named in financing history | Current holdings and liquidation stack not public |
| Common/option holders/debt holders | Not public | Need cap table, option ledger, debt, warrants |
I.D Other financial information
partially verified confidence: high
Financing history supports eligibility; tax, accounting, valuation, and financing details require private records.
Evidence gaps
- Tax positions, accounting policies, current valuation support, latest investor update.
Hidden risks
- Current valuation may differ materially from 2021 marks.
Follow-up questions
- Confirm private status with counsel and current 409A/latest round.
| date | amount | lead or participants | valuation or signal | verification |
|---|---|---|---|---|
| 2017-08-21 | $44M Series D | Goldman Sachs Private Capital Investing; Bain; Carmel/Viola; Dell Technologies Capital | $86M total funding; 70% YoY quarterly revenue growth signal | verified |
| 2019-02-19 | $60M Series E | Francisco Partners; Goldman; Bain; Viola; Dell Technologies Capital | Valuation not disclosed | verified amount/investors |
| 2020-08-25 | $100M Series F | Bain Capital Ventures and TCV co-led | More than $1B valuation; over $246M raised | verified |
| 2021-04-07 | $110M Series G plus $200M secondary | Tiger Global led; SoftBank Vision Fund 2 and TCV participated | More than $2B valuation | verified |
| CB Insights context | Unicorn database entry | Viola Ventures; Dell Technologies Capital; Bain Capital Ventures | $2.00B entry, date joined 2020-08-25 | partially_verified |
02Products
Redis offers managed cloud, self-managed enterprise software, open-source/source-available products, and AI/vector positioning; licensing is central.
II.A Description of each product
partially verified confidence: high
Product taxonomy and entry pricing are public; product-level revenue and license impact are private.
Evidence gaps
- ARR, gross margin, usage, support cost, feature attach, and license-change churn by product.
Hidden risks
- Open-source backlash could undermine commodity workloads and developer funnel.
Follow-up questions
- Provide product P&L and post-license win/loss analysis.
| product | audience | public features | diligence gap |
|---|---|---|---|
| Redis Cloud | Managed cloud users | Fully managed across AWS, Azure, GCP | ARR and gross margin by cloud |
| Redis Software | Self-managed enterprise | Enterprise-grade compliance and reliability | License revenue and support cost |
| Redis Open Source / source-available | Developers and compatible deployments | Caching and streaming; 2024 license change | Community and procurement impact |
| Redis for AI | AI/vector/RAG workloads | Real-time context engine and vector/RAG positioning | ARR and adoption |
| tier or item | public evidence | diligence implication |
|---|---|---|
| Free | From $0/hour | Top-of-funnel, not revenue proxy |
| Essentials | From $0.007/hour | Usage and region affect cost |
| Pro | From $0.014/hour | Private discounts not disclosed |
| Enterprise/private offers | Not public | Need quote history and marketplace fee economics |
| RSALv2/SSPLv1 | Future Redis releases under source-available licenses from 7.4 | Legal/procurement review required |
03Customer Information
Customer stories validate production use cases, while concentration, renewals, severed relationships, and suppliers remain private.
III.A Top customers by application
partially verified confidence: medium
Public cases cover retail, banking, financial services, telecom, customer service, and adtech, but not top-15 revenue customers.
Evidence gaps
- Top customers by ARR/application, contract term, renewal status, and product.
Hidden risks
- Marketing logos may not represent current paid contracts.
Follow-up questions
- Provide top-customer schedule and references.
| customer | use case | verification | private gap |
|---|---|---|---|
| Ulta Beauty | Digital store of the future with Redis on Google Cloud | partially_verified case study | ACV, renewal, product tier |
| Axis Bank | Online payments and UPI 76% faster | partially_verified case study | Contract value and deployment scope |
| Asurion | Customer service and AI workloads | partially_verified case study | Current deployment and renewal |
| Raymond James | GenAI search/chat and RAG pipeline | partially_verified case study | ARR and exact scope |
| TELUS | Optik TV reliability with Redis Enterprise | partially_verified case study | SLA and contract term |
| Liftoff | Billions of events/devices, low-latency ad exchange | partially_verified case study | Revenue/margin contribution |
III.B Strategic relationships
verified confidence: high
AWS, Google Cloud, and Microsoft Azure relationships are public, but contract economics are private.
Evidence gaps
- Revenue share, fees, exclusivity, termination, co-sell, and conflict terms.
Hidden risks
- Hyperscaler partners also operate substitutes.
Follow-up questions
- Provide hyperscaler agreements and co-sell data.
| partner | nature | public evidence | gap |
|---|---|---|---|
| AWS | Redis Cloud on AWS and AWS Marketplace | Purchase listing through AWS Marketplace | Fees, revenue, terms |
| Google Cloud | Google Cloud Marketplace deployment | Deploy directly or from Google Cloud Marketplace | Revenue and co-sell terms |
| Microsoft Azure | Azure Cache for Redis Enterprise managed by Microsoft | Microsoft operates Redis Enterprise as managed service | Commercial split and control |
| Valkey ecosystem | Competitive fork/community | Linux Foundation launch with AWS/GCP/Oracle/Ericsson/Snap | Impact on renewals and partners |
III.C Revenue by customer
not publicly verifiable confidence: medium
No customer-level revenue, 5% customer, or channel concentration schedule is public.
Evidence gaps
- Revenue by customer/channel/product and renewal calendar.
Hidden risks
- Cloud marketplace or enterprise concentration may be hidden.
Follow-up questions
- Provide ARR by customer with NRR/GRR.
III.D Significant relationships severed within the last two years
not publicly verifiable confidence: low
No public severed-customer, partner, or supplier schedule was found.
Evidence gaps
- Lost customer/partner/supplier schedules and reason codes.
Hidden risks
- Valkey-related churn could be invisible publicly.
Follow-up questions
- Provide churn and terminated relationship schedules.
III.E Top suppliers
partially verified confidence: medium
Top suppliers are not disclosed; cloud evidence points to AWS, Google Cloud, and Azure dependency.
Evidence gaps
- Supplier spend, cloud commitments, SLAs, and incident history.
Hidden risks
- Cloud COGS concentration could pressure margin.
Follow-up questions
- Provide supplier spend and cloud contracts.
| dependency | role | evidence | risk |
|---|---|---|---|
| AWS | Cloud infrastructure / marketplace / native competitor | Redis AWS Marketplace; AWS ElastiCache and MemoryDB compatible substitutes | Unknown COGS and channel share |
| Google Cloud | Cloud infrastructure / marketplace / native competitor | Redis GCP page and Google Memorystore | Unknown partner economics |
| Microsoft Azure | Managed Redis Enterprise route | Azure Cache for Redis Enterprise | Commercial terms not public |
| Developer/open-source ecosystem | Adoption and compatibility | License change and Valkey | Contributor/user trust shift |
04Competition
Redis faces Valkey, hyperscaler native services, Dragonfly, and other real-time/vector data platforms.
IV.A Competitive landscape by market segment
verified confidence: high
Public evidence identifies Valkey and hyperscaler-compatible services as the clearest substitutes.
Evidence gaps
- Win/loss by competitor, benchmarks, feature attach, pricing realization.
Hidden risks
- Compatibility can lower switching cost and compress pricing.
Follow-up questions
- Provide post-Valkey churn and customer references choosing Redis over substitutes.
| competitor | segment | overlap | threat |
|---|---|---|---|
| Valkey | Open-source in-memory datastore | Core Redis-compatible workloads | Linux Foundation governance and major vendor support |
| AWS ElastiCache | Managed cloud cache | Valkey, Redis OSS, Memcached compatibility | AWS-native procurement |
| AWS MemoryDB | Managed durable in-memory DB | Valkey and Redis OSS compatibility | AWS-native database alternative |
| Google Memorystore | Managed in-memory service | Valkey, Redis, Memcached compatibility | GCP-native substitute |
| Dragonfly | Redis-compatible specialist | Performance-sensitive workloads | Aggressive benchmark claims |
| axis | redis position | competitor pressure | evidence gap |
|---|---|---|---|
| Open governance | Weakened by source-available shift; later AGPLv3 option | Valkey community governance | Contributor and customer sentiment |
| Cloud procurement | Available through marketplaces/managed routes | Hyperscaler-native services | Revenue-weighted channel mix |
| Enterprise differentiation | Active-Active, Query Engine, reliability, AI/vector | Compatibility and performance alternatives | Feature attach and benchmarks |
| Customer proof | Multiple enterprise case studies | Not fully evaluated | Independent references |
05Marketing, Sales, and Distribution
Redis uses direct, cloud marketplace, Azure managed-service, developer/open-source, and case-study GTM motions; productivity is private.
V.A Strategy and implementation
partially verified confidence: high
Public GTM evidence includes pricing pages, cloud marketplaces, and customer stories.
Evidence gaps
- Pipeline by source/channel, CAC/payback, marketing spend and ROI.
Hidden risks
- Partner marketplaces reduce direct control over economics.
Follow-up questions
- Provide CRM, attribution, and budget materials.
| channel | public evidence | gap |
|---|---|---|
| Direct website/pricing funnel | Pricing page with Free/Essentials/Pro and sales motion | Direct ARR and conversion |
| AWS Marketplace | Redis AWS page says purchase in AWS Marketplace | Fees and private offers |
| Google Cloud Marketplace | Redis GCP page says deploy from Marketplace | Co-sell and revenue share |
| Azure managed service | Microsoft operates Redis Enterprise service | Contract economics |
| Customer-story/content marketing | Case studies by vertical/use case | Influenced pipeline |
| signal | evidence | risk or limit | follow up |
|---|---|---|---|
| Real-time data platform positioning | Financing/product pages emphasize real-time and low latency | Need brand and pipeline metrics | Messaging tests and source attribution |
| Cloud marketplace badges | AWS/GCP pages and Azure docs | Partners are also competitors | Co-sell and conflict dashboards |
| Customer stories | Ulta, Axis Bank, Asurion, Raymond James, TELUS, Liftoff | No revenue disclosed | References and renewal status |
| Developer/open-source community | License change and Valkey launch | Reputation risk after 2024 | Community/contributor metrics |
V.B Major customers
partially verified confidence: medium
Major public references exist, but current status and expansion pipeline are not public.
Evidence gaps
- Major account plans, health scores, expansion pipeline, renewal risks.
Hidden risks
- Public logos can be stale.
Follow-up questions
- Provide account plans and reference calls.
V.C Principal avenues for generating new business
partially verified confidence: medium
Confirmed avenues include direct pricing funnel, AWS/GCP marketplaces, Azure managed service, content, and developer awareness.
Evidence gaps
- Pipeline source and conversion from free/open-source to paid.
Hidden risks
- Valkey could weaken developer-led inbound.
Follow-up questions
- Provide funnel and cohort conversion data.
V.D Sales force productivity model
not publicly verifiable confidence: low
No public sales productivity model was found.
Evidence gaps
- Quota, attainment, rep ramp, sales cycle, compensation.
Hidden risks
- Late-stage valuation may depend on unverified efficiency.
Follow-up questions
- Provide sales productivity by segment and channel.
V.E Ability to implement marketing plan with current and projected budgets
not publicly verifiable confidence: low
Marketing budget sufficiency is not public.
Evidence gaps
- Marketing plan, budget, CAC/payback, partner MDF.
Hidden risks
- Marketplace discounts/fees may mask marketing economics.
Follow-up questions
- Provide marketing budget and channel ROI.
06Research and Development
Redis continues development across Redis 8, AI/vector, Query Engine, and licensing/product packaging, but R&D budget and Valkey impact are private.
VI.A Description of R&D organization
partially verified confidence: medium
Founder/technical history and roadmap themes are public; org, budget, backlog, and contributor metrics are private.
Evidence gaps
- R&D headcount, budget, roadmap, defect/security backlog, contributor metrics.
Hidden risks
- Valkey may reduce external innovation leverage.
Follow-up questions
- Provide R&D org chart and post-Valkey engineering strategy.
| person or group | public evidence | caveat |
|---|---|---|
| Yiftach Shoolman | Co-founder and CTO in 2019 release | Current role needs confirmation |
| Ofer Bengal | Co-founder and Chairman after CEO transition | Current operating role and equity not public |
| Engineering/product teams | Redis 8 and Redis for AI releases show continued development | Headcount and budget not public |
| Open-source/community contributors | Valkey formed separate open-source community | Contributor retention requires metrics |
VI.B New product pipeline
partially verified confidence: medium
Public pipeline evidence points to Redis 8, AI/vector/RAG, Query Engine, and reliability features.
Evidence gaps
- Roadmap milestones, adoption, beta customers, ARR by new product, R&D cost.
Hidden risks
- Roadmap may be defensive rather than expansionary.
Follow-up questions
- Provide roadmap and AI/vector ARR/pipeline.
| initiative | status | evidence | risk |
|---|---|---|---|
| Redis 8 | GA in 2025 | Over 30 performance improvements and new data structures | Independent benchmarks needed |
| Redis for AI/vector/RAG | Public positioning | Real-time context engine and vector/RAG claims | Crowded market |
| Query Engine / Active-Active / persistence | Marketed enterprise features | AWS page references Query Engine, Active-Active, 99.999% uptime | Attach and SLA history not public |
| Licensing/product packaging | Ongoing | RSALv2/SSPLv1 and AGPLv3 option narrative | Customer procurement and ecosystem split |
07Management and Personnel
Public evidence verifies founder history, a 2023 CEO transition, and directional LinkedIn scale; detailed HR diligence is private.
VII.A Organization chart
not publicly verifiable confidence: medium
A complete current org chart is not public.
Evidence gaps
- Current org chart, board, advisors, reporting lines.
Hidden risks
- Critical reporting lines and succession risks are hidden.
Follow-up questions
- Provide board-approved org chart.
VII.B Historical and projected headcount by function and location
inconclusive confidence: low
LinkedIn gives only a directional public employee count.
Evidence gaps
- Payroll headcount by function/location, contractors, open reqs, attrition.
Hidden risks
- Profile counts may include alumni or stale profiles.
Follow-up questions
- Provide HRIS export and workforce plan.
| signal | public value | status | request |
|---|---|---|---|
| LinkedIn employee count | 1,536 employees displayed | directional only | HRIS payroll by function/location |
| Company locations and current payroll | Not verified in public extract | not publicly verifiable | Legal entity and workforce schedule |
| Projected hiring | Not public | not publicly verifiable | FY2026 hiring plan and requisitions |
VII.C Senior management biographies
partially verified confidence: medium
Public sources verify the CEO transition and founder history, but complete executive bios are not public.
Evidence gaps
- Executive bios, employment agreements, retention packages, references.
Hidden risks
- Executive turnover or retention issues may be private.
Follow-up questions
- Provide management bios and contracts.
| person | role signal | evidence | caveat |
|---|---|---|---|
| Rowan Trollope | CEO effective 2023-02-01 | Redis CEO transition release | Employment agreement not public |
| Ofer Bengal | Co-founder; CEO before transition; Chairman after 2023-02-01 | CEO transition and founding evidence | Equity/control not public |
| Yiftach Shoolman | Co-founder; CTO in 2019 source | 2019 release | Current status needs confirmation |
| Board/investor reps | Investors named in rounds | Financing releases | Board seats and rights not public |
VII.D Compensation arrangements
not publicly verifiable confidence: low
No key employment or benefit plan terms are public.
Evidence gaps
- Employment agreements, severance, benefits, change-of-control, retention bonuses.
Hidden risks
- Retention risk may rise after CEO transition.
Follow-up questions
- Provide compensation and benefits documents.
VII.E Incentive stock plans
not publicly verifiable confidence: low
Option pool and incentive plan details are not public.
Evidence gaps
- Option pool, grants, strike prices, vesting, 409A history.
Hidden risks
- Underwater options from 2021 valuation may affect retention.
Follow-up questions
- Provide equity incentive plan and option ledger.
VII.F Significant employee relations problems, past or present
not publicly verifiable confidence: low
No comprehensive employee-relations record was found publicly.
Evidence gaps
- HR investigations, claims, settlements, employment litigation.
Hidden risks
- Private HR claims could be material.
Follow-up questions
- Provide employee-relations log.
| signal | evidence | verification | follow up |
|---|---|---|---|
| CEO transition | Ofer Bengal to Chairman; Rowan Trollope to CEO | verified | Interview CEO, chair, and board |
| Founder technical continuity | Ofer/Yiftach founded Redis in 2011 | verified historical | Confirm current roles and retention |
| Employee relations and attrition | No public schedule found | not_publicly_verifiable | Request HR claims, settlements, attrition |
VII.G Personnel turnover
not publicly verifiable confidence: low
Leadership transition is public; broader turnover data is not.
Evidence gaps
- Attrition by function/level/location, engagement, regrettable attrition.
Hidden risks
- Post-license community issues may affect engineering retention.
Follow-up questions
- Provide attrition and retention metrics.
08Legal and Related Matters
Trademark, licensing, Trust Center, and limited litigation snippets are public; full legal/IP/regulatory/insurance diligence requires counsel.
VIII.A Pending lawsuits against the company
inconclusive confidence: low
No current pending lawsuit against Redis was verified; a historical Couchbase matter is public as resolved.
Evidence gaps
- Complete litigation schedule and counsel certification.
Hidden risks
- Undisclosed threatened claims could exist.
Follow-up questions
- Provide pending/threatened/resolved litigation records.
| matter | status | caveat |
|---|---|---|
| Couchbase litigation | Resolved per Redis press-page title | Need docket, claims, settlement, insurance |
| Current pending lawsuits against Redis | No current matter verified in reviewed public sources | Counsel certification and full search required |
VIII.B Pending lawsuits initiated by company
partially verified confidence: medium
A Redis-initiated Ver Se case was found and marked terminated; no pending initiated litigation was verified.
Evidence gaps
- Complaint, disposition, settlement, and initiated-matter schedule.
Hidden risks
- Terminated cases may include settlement obligations.
Follow-up questions
- Provide docket and settlement documents.
| matter | court or docket | status | caveat |
|---|---|---|---|
| Redis, Inc. v. Ver Se Innovation Private Ltd. | N.D. California, 5:25-cv-05166 | Filed 2025-06-18; terminated 2025-11-20 | Need complaint and disposition/settlement |
| Other IP/trademark/license enforcement | Not public | not_publicly_verifiable | Request full initiated/threatened matter schedule |
VIII.C Environmental and employee safety issues and liabilities
not publicly verifiable confidence: low
Public environmental/safety exposure appears low but is not verifiable.
Evidence gaps
- EHS records, office leases, workplace safety claims, supplier compliance.
Hidden risks
- Office and supplier obligations may be private.
Follow-up questions
- Provide EHS and workplace safety materials.
VIII.D Material patents, copyrights, licenses, and trademarks
partially verified confidence: high
Trademark and license evidence is public; patent/copyright and license-exception schedules are private.
Evidence gaps
- Trademark records, patents, copyrights, IP assignments, OSS SBOM, license exceptions.
Hidden risks
- License terms may create procurement blockers or disputes.
Follow-up questions
- Provide IP schedule and OSS compliance review.
| asset | instrument | status | caveat |
|---|---|---|---|
| REDIS trademark | Redis trademark policy | Redis says registered trademark of Redis Ltd. | Pull official registers and assignments |
| RSALv2 | Redis Source Available License 2.0 | Referenced for post-7.4 licensing | Review customer exceptions and legal memos |
| SSPLv1 | Server Side Public License | Referenced for post-7.4 licensing | Review service-provider obligations |
| Patents/copyright/code ownership | Public patent search and private schedules | not_publicly_verifiable | Request IP schedule and OSS SBOM |
VIII.E Insurance coverage and material exposures
not publicly verifiable confidence: low
Insurance coverage is not public.
Evidence gaps
- Insurance policies, limits, exclusions, claims history.
Hidden risks
- Outage, security, and IP exposure may need robust coverage.
Follow-up questions
- Provide insurance schedule and broker summary.
VIII.F Material contracts
not publicly verifiable confidence: medium
Material customer, partner, supplier, marketplace, and license contracts are not public.
Evidence gaps
- Material contracts, DPAs, supplier agreements, license exceptions, reseller/marketplace terms.
Hidden risks
- Hyperscaler contracts may constrain pricing, SLAs, data residency, and co-sell economics.
Follow-up questions
- Provide material-contract schedule.
VIII.G Regulatory agency problems
inconclusive confidence: medium
Trust Center badges suggest compliance posture; no regulatory action was verified, but reports and correspondence are private.
Evidence gaps
- SOC 2/ISO/PCI/HIPAA reports, bridge letters, incident log, regulatory correspondence, subprocessors.
Hidden risks
- Security incident or compliance exceptions could affect enterprise retention.
Follow-up questions
- Provide Trust Center gated documents and counsel certification.
| area | public evidence | status | private request |
|---|---|---|---|
| Security/privacy certifications | Trust Center badges for CCPA, CSA STAR, GDPR, HIPAA, ISO, PCI DSS, SOC 2, VPAT | partially_verified | Reports, scopes, bridge letters, exceptions |
| Privacy/regulatory actions | No public action verified | inconclusive | Regulatory correspondence and incident log |
| Insurance/material exposures | Not public | not_publicly_verifiable | Cyber/E&O/D&O/IP policies and claims |
Evidence
| ID | Claim | Status | Sources |
|---|---|---|---|
| EC-001 | CB Insights context supplied by the user lists Redis as a U.S. Enterprise Tech unicorn with a $2.00B valuation and 2020-08-25 date joined. | partially verified medium | SRC-001 |
| EC-002 | Redis announced a $110M Series G led by Tiger Global in April 2021, with SoftBank Vision Fund 2 and TCV participating, bringing valuation to more than $2B. | verified high | SRC-002SRC-003 |
| EC-003 | Redis announced a $100M Series F in 2020 at a valuation of more than $1B, co-led by Bain Capital Ventures and TCV, with Francisco Partners, Goldman Sachs Growth, Viola Ventures, and Dell Technologies Capital participating. | verified high | SRC-004 |
| EC-004 | Redis raised a $60M Series E in 2019 led by Francisco Partners and was described as founded in 2011 by Ofer Bengal and Yiftach Shoolman. | verified high | SRC-005 |
| EC-005 | Redis raised $44M Series D in 2017 led by Goldman Sachs Private Capital Investing, reaching $86M total funding, and disclosed 70% YoY revenue growth in the most recent quarter. | verified high | SRC-006 |
| EC-006 | In 2021 Redis claimed revenue CAGR over 54% for the three years ended 2021-01-31, more than 8,000 paying customers, 31% Fortune 100 penetration, and net retention greater than 120%. | partially verified medium | SRC-002 |
| EC-007 | Redis product pages describe Redis Cloud, Redis Software, Redis Open Source, and Redis for AI. | verified high | SRC-009 |
| EC-008 | Redis public pricing lists Free from $0/hour, Essentials from $0.007/hour, and Pro from $0.014/hour, with direct and partner marketplace sales. | verified high | SRC-010 |
| EC-009 | Redis markets Redis Cloud through AWS Marketplace and highlights Query Engine, Active-Active, persistence, and up to 99.999% uptime on AWS. | verified high | SRC-011 |
| EC-010 | Redis markets Google Cloud deployment directly or from Google Cloud Marketplace. | verified high | SRC-012 |
| EC-011 | Microsoft documents Azure Cache for Redis as offering both OSS Redis and the commercial Redis Enterprise product as a Microsoft-operated managed service. | verified high | SRC-013 |
| EC-012 | Redis publishes enterprise customer stories including Ulta Beauty and Axis Bank, with Axis Bank framed as making online payments and UPI transactions 76% faster. | partially verified medium | SRC-014SRC-015SRC-016 |
| EC-013 | Additional Redis case studies describe Asurion, Raymond James, TELUS, and Liftoff workloads across customer service AI, RAG search, TV reliability, and adtech low latency. | partially verified medium | SRC-017SRC-018SRC-019SRC-020 |
| EC-014 | Redis announced in 2024 that future Redis releases would be source-available and dual-licensed under RSALv2 and SSPLv1 starting with Redis 7.4, no longer under three-clause BSD for future releases. | verified high | SRC-007SRC-023SRC-024 |
| EC-015 | The Linux Foundation launched Valkey on 2024-03-28 as an open-source in-memory data store community with support from AWS, Google Cloud, Oracle, Ericsson, and Snap. | verified high | SRC-008 |
| EC-016 | Redis Trust Center publicly lists compliance and certification labels including CCPA, CSA STAR, GDPR, HIPAA, ISO, PCI DSS, SOC 2, and VPAT. | partially verified medium | SRC-021 |
| EC-017 | Redis trademark policy states Redis is a registered trademark of Redis Ltd. | verified high | SRC-022 |
| EC-018 | Redis-hosted RSALv2 and SSPL pages provide the legal instruments referenced in the 2024 licensing model. | verified high | SRC-023SRC-024 |
| EC-019 | Redis announced Rowan Trollope would become CEO effective 2023-02-01 and co-founder Ofer Bengal would become Chairman. | verified high | SRC-025 |
| EC-020 | Redis 8 GA in 2025 claimed more than 30 performance improvements, new data structures, and Redis Open Source naming tied to AGPLv3 as a licensing option. | partially verified medium | SRC-026 |
| EC-021 | Redis positions Redis for AI as a real-time context engine with vector database and RAG capabilities. | partially verified medium | SRC-027 |
| EC-022 | AWS markets Amazon ElastiCache as a Valkey-, Memcached-, and Redis OSS-compatible cache. | verified high | SRC-028 |
| EC-023 | AWS markets Amazon MemoryDB as a Valkey- and Redis OSS-compatible in-memory database. | verified high | SRC-029 |
| EC-024 | Google Cloud markets Memorystore as a fully managed Valkey, Redis, and Memcached service with sub-millisecond data access and compatibility. | verified high | SRC-030 |
| EC-025 | Dragonfly markets itself as a Redis alternative with claims of 25x more QPS and lower latency than Redis. | partially verified low | SRC-031 |
| EC-026 | Redis LinkedIn public profile extract displayed 1,536 employees at access time. | inconclusive low | SRC-032 |
| EC-027 | PACER Monitor lists Redis, Inc. v. Ver Se Innovation Private Ltd., N.D. Cal. case 5:25-cv-05166, filed 2025-06-18 and terminated 2025-11-20. | partially verified medium | SRC-033 |
| EC-028 | Redis has a public press page titled Redis Labs Resolves Litigation with Couchbase, indicating a resolved historical legal matter. | partially verified low | SRC-034 |
| EC-029 | No public audited financial statements, current ARR, cap table, share count, debt schedule, AR aging, backlog, or customer concentration schedule was found in the reviewed sources. | not publicly verifiable high | SRC-002SRC-004SRC-035 |
| EC-030 | Redis appears eligible for this report because public evidence supports active operations and private financing, and no public IPO, acquisition, or shutdown evidence was identified in reviewed sources. | partially verified medium | SRC-002SRC-004SRC-007SRC-009SRC-010SRC-035 |
| EC-031 | Redis relies materially on hyperscaler channels/infrastructure while AWS, Google Cloud, and Microsoft also operate or market Redis/Valkey-compatible services. | verified high | SRC-011SRC-012SRC-013SRC-028SRC-030 |
| EC-032 | Public sources do not provide a complete patent portfolio, material contracts, insurance, regulatory-action, or employee-relations schedule for Redis. | not publicly verifiable medium | SRC-021SRC-036 |
Disclaimer
This report is a public-evidence diligence snapshot, not investment advice. Important financial, legal, technical, and contractual facts remain non-public and should be verified directly with management and primary documents before any investment decision.