Redis Labs Achieves Billion-Dollar Valuation
Woden client Redis Labs announced today that it closed $100 million in Series F funding, earning the company a valuation in excess of $1 billion. This is Woden’s first “unicorn,” an informal designation for privately-owned companies valued more than $1 billion.
Redis Labs provides a database that enables companies to manage, process, and analyze large amounts of unstructured data. The company will use its recent funding to add and expand use cases for developers as well as to grow its sales and marketing teams. Redis Labs is also the steward of the open-source Redis database.
Woden crafted the brand story for Redis Labs in 2017. In the highly competitive database industry, Redis Labs needed to stand out from competitors with similar offerings. That differentiation required moving beyond the features and benefits of its Redis Enterprise product and instead establish an emotional connection with buyers.
Woden crafted a narrative around Redis’ most powerful asset: speed. Technology leaders are under constant pressure to move faster, and Woden helped Redis affirm: those that run fastest, run on Redis. The emotional resonance of the story became central to the growth of the Redis Enterprise product, allowing it to connect with customers and beat its competitors on more than price or technical specs.
Woden congratulates Redis Labs and is proud to have been a part of its monumental achievements.