Israeli unicorn Redis cuts dozens of jobs despite $300 million revenue run rate
The database company is reducing its Tel Aviv workforce by about 70 employees but says it remains committed to its Israeli development center.
The Israeli unicorn Redis is laying off dozens of employees in Israel, according to information obtained by Calcalist. The company, which has raised $357 million to date, employs approximately 1,300 people worldwide, including around 300 employees at its Tel Aviv development center.
According to estimates, about 70 employees in Israel are expected to be affected by the layoffs. Despite the cuts, there are currently no plans to close the Israeli development center. Instead, the company intends to continue investing in the site and expanding its operations there in the future. As part of that commitment, Redis recently signed a lease for new Israeli offices for the next decade.
Redis is a database company whose open-source technology is widely used by developers worldwide. Its commercial platform, Redis Enterprise, powers critical applications for many large enterprises. The company says its customers include eight of the world's 10 largest companies and more than half of the world's 100 largest companies.
The layoffs come after a period of rapid growth at the company. At the beginning of the year, Redis reported an annual revenue run rate of approximately $300 million.
The company was founded in 2011 by Ofer Bengal and Yiftach Shoolman, who are no longer active in its management. Since 2023, Redis has been led by CEO Rowan Trollope, who replaced the founders.
In response to a Calcalist inquiry, Redis said it does not comment on rumors or speculation.
