Redis Labs has been positioned furthest to the right on the Completeness of Vision axis in the Challenger quadrant in the November 2020 Magic Quadrant for Cloud Database Management Systems by Gartner. The company's Redis Enterprise Cloud is a fully managed data platform designed for modern applications, providing unified data across any deployment model and around the globe. It enables multi-model operations across and between modules and core Redis data structures, while maintaining instant latency developers expect from Redis. With unprecedented growth and momentum over the past 12 months, Redis Labs has achieved unicorn status with a valuation exceeding $1 billion, driven in part by its growing partnerships with leading cloud providers. According to Gartner, cloud DBMS revenue will account for 50% of the total DBMS market revenue by 2023. The company's users have shown unprecedented appreciation, with high ratings across various categories on Gartner Peer Insights, including "High-speed, high volume processing" and "Ease of deployment".