OK, I suppose they are on the exit line now. I wonder who the buyer is going to eventually be. I can't imagine an IPO, though; maybe my imagination is weak.
In the broader market there’s still hype for SaaS businesses which Redis can easily become because everyone wants to be a rentier and earn passive income.
Raising today 100M you'd want to at least, worst case, triple the exit valuation, and so you grow as crazy your enterprise sales for the next year or two so your 15x ARR gets to $3-4B and you sell for $6B+ and let the buyer carry all that support and tech debt.