| July 24, 2016 | Israeli cloud computing startup Redis Labs has closed a $14 million Series C financing round. Bain Capital Ventures and Carmel Ventures led the round, with participation from other existing investors, at what the company described as a significantly increased valuation from the previous two rounds. Redis Labs said it will use the proceeds to expand sales and marketing efforts to accelerate global customer acquisition. Founded in 2011 by CEO Ofer Bengal and CTO Yiftach Shoolman, Redis provides cloud database services and has over 6,200 enterprise customers and its Redis Cloud service exceeds 55,000 accounts.
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