Redis, the company known for its widely-used in-memory data store that serves as a cache, vector database, and streaming engine, has just unveiled Redis 8. This latest release solidifies Redis as a top vector database for AI applications and introduces an AI Copilot to aid developers in accessing Redis docs efficiently and writing code.
In addition, Redis is streamlining the data integration process with a new service and leveraging its Speedb acquisition to introduce Redis Flex, catering to users who prefer running Redis caches on flash drives rather than in-memory devices.
CEO Rowan Trollope referred to this release as Redis’s most significant one to date, emphasizing the company’s focus on innovation. The change in licensing earlier in the year, transitioning to a dual-license scheme, has allowed Redis to drive more innovation without the fear of exploitation by large cloud providers.
Redis 8 marks a major overhaul for the company, emphasizing speed while also catering to generative AI developers utilizing vector databases for advanced AI models. Additionally, Redis has seen a surge in developers using the platform for inferencing and caching purposes, resulting in significant cost savings.
Redis Flex, a new feature, enables users to run Redis caches on flash drives, offering a cost-effective alternative to the traditional in-memory database. This innovation, along with other AI-driven features, positions Redis as a leading player in the market.
New hires and IPO plans
Looking ahead to a possible IPO, Redis has recently brought on board a new CFO, Tony Tiscornia, and a Chief Administrative Officer, Diane Honda, to strengthen its leadership team. As Trollope mentioned, the company is preparing for an IPO when market conditions are favorable. With the addition of experienced executives like Tiscornia, who previously oversaw an IPO at Coupa, Redis is signaling its readiness to take the next step towards going public.
