site.btaStartup with Market Capitalization of Over USD 1 Bln Chooses Bulgaria as Its Newest R&D Centre

Global software company Redis has chosen Bulgaria as its newest research and development centre, the company said on Tuesday. The technology start-up, dubbed as a centaur (i.e. with a market capitalization of USD 1 billion and USD 100 million in annual revenues) operates in over 25 countries on 6 continents.

The company has chosen Bulgaria over five other countries to build a research and development centre, which will create 75 new jobs immediately.

Redis has identified its new centre in Bulgaria as key to the company's future. The decision is driven by the company's strategy to establish Sofia as its main engineering hub outside Israel. The strategic move is testament to the startup's plans to grow and develop the global reach of its operations, taking advantage of access to talent in the region, Redis said.

"Having worked with extremely talented local engineering teams earlier in my career, I am confident that we will be able to find the level of talent required for the next stage of our growth as a company. Sofia was the clear choice for us because of the availability of exceptional talent, membership of the European Union and not least because of the capital itself as a city," says Redis Vice President Richard Harry.

The company has already appointed Ivan Atanasov as director for Bulgaria, former head of Uber's development center in Sofia and manager at SAP.

The open-source database project Redis was created in 2009 and the company was founded in 2011. Currently, it is one of the most well-known technology brands worldwide and is ranked as the most preferred in-memory database. The company offers real-time data access services to over 10,000 organizations worldwide.