Database automation market to reach $2.5B worldwide by 2026
Global Industry Analysts Inc., (GIA) the premier market research company released a report that presents fresh perspectives on opportunities and challenges in the post-COVID marketplace. “Database Automation – Global Market Trajectory & Analytics” explains how the pandemic transformed every aspect of it.
Here are the study’s major findings. Amid the COVID-19 crisis, the global market for database automation estimated at $648 million in the year 2020, is projected to reach a revised size of $2.5 billion by 2026, growing at a CAGR of 25.3% over the analysis period. Database automation helps leverage processes and tools to make admin tasks for a database simpler and safer. One of the major vendors in the global database automation markets is Redis Labs.
“We’ve had this company on our radar for almost three years, since its valuation was at $500 million. It’s a great unicorn with a big future. We project that its valuation will soon reach $15-20 billion,” says Kris Bort, founding partner of Sakal Ventures, a fund that focuses on late-stage private investing.
Founded in 2011 by by Ofer Bengal and Yiftach Shoolman in Tel Aviv, Israel, Redis Labs sells software and a cloud service based around an open source database. The product has been praised for its caching capabilities, in which applications are able to run faster by storing data that may be reused. Paying customers (over 8,000 in various sectors such as finance, tech and healthcare) also use the company’s product for different applications, like processing claims or messaging. Clothing retailer Gap relies on the database software for inventory management and order fulfillment, while the world’s top credit card issuers utilize Redis for real-time transaction authorization. Redis Labs’ revenue grew by 54% over the last three years.
“We founded Redis Labs with the idea that the future of the database market would be defined by performance, where Redis excels. Through the dedication of our team, Redis has become an enterprise-grade data platform to tackle nearly any real-time use case across every industry,” says Ofer Bengal, Co-Founder and CEO at Redis Labs. “Partnering with exceptional new investors such as Tiger Global and SoftBank, in addition to the continued belief of our existing investors like TCV, validates our mission to make Redis the de facto real-time data platform companies choose to meet their customers’ expectations.”
According to Bort, this is the type of company investors should pursue if they want outsized returns on their investments. At Sakal Ventures, a team of experts (former hedge fund managers, financial analysts, equity traders, technology advisors, wealth managers, and entrepreneurs) runs a series of proprietary screens on a weekly basis to scout for interesting opportunities based on valuations, industry trends, and shifts in the macro environment.
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“If you know what you are doing or work with the right fund advising you, the capital appreciation the late-stage space can provide is simply unprecedented,” shares Kris Bort.
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