Ofer Bengal
- Co-Founder and CEO at Redis
GetLatka interview
How Redis Labs Reached 8,500 Customers and 60% Annual Growth on $78M Raised (Interview with Co-Founder and CEO Ofer Bengal)
Ofer Bengal (Co-Founder and CEO of Redis Labs) spoke to Nathan Latka on July 30, 2018.
Redis Labs figures from the interview
- Paying Customers (2018)
- 8,500
- Free-Tier Users (2018)
- 100,000
- YoY Growth (2018)
- 60%
- Total Funding Raised
- $78M
- Avg Contract Value (Software) (2018)
- $60K per year
“We have 8,500 customers. Out of them approximately 250 are software customers and these are the big enterprise customers. The service customers are much smaller.”
“When you go to the software side of the business which is larger, we are talking about if you take the overall average, it's around 60 k per year. ... If you are talking about Fortune 100 customers, it's around 300 k per year. ... That's the average. Obviously, we have customers paying millions of dollars per year.”
“Churn is relatively low. We are talking about single digit churn.”
Bio
Ofer is a serial entrepreneur who has founded and led several companies in the areas of data communications, telecommunications, Internet, homeland security and medical devices. Ofer was founder & CEO of RIT Technologies (NASDAQ: RITT), a provider of sophisticated telecommunications and data communications systems to major world carriers. He began his career as an aerospace engineer in the Israeli Air Force and then built his own aerospace engineering consulting firm. As a hobby, he has also invented, developed and licensed toy concepts to companies such as Milton Bradley, Hasbro and Tomy. Ofer holds a Bachelor of Science (cum laude) in aerospace engineering from the Technion, Israel Institute of Technology.