In-memory computing platform Hazelcast announces $21.5 million raise

June 19, 2019
Written by Folake Dosu

cloud-computing-hazelcast-funding

In-memory computing platform Hazelcast announced this week that it has closed a $21.5 million funding round. UK-based investor C5 Capital led the round, with participation from existing investors Bain Capital Ventures, Earlybird Venture Capital and Capital One Growth Ventures.

This latest round of capital will allow Hazelcast to accelerate its product roadmap and support go-to-market efforts as the demand for cloud computing solutions rises.

“Hazelcast enables its customers to establish a System of Now through its platform that scales linearly and delivers the industry’s fastest processing for stored and streaming data, leaving competitive offerings far behind as data sizes and processing loads grow.”

“From the cloud to the internet of things, the macro trends hitting today’s enterprises require a new approach to data processing for meeting the time-sensitive demands of data-centric applications,” said Kelly Herrell, CEO of Hazelcast. “Hazelcast enables its customers to establish a System of Now through its platform that scales linearly and delivers the industry’s fastest processing for stored and streaming data, leaving competitive offerings far behind as data sizes and processing loads grow.”

System of Now architecture is heralded for its ultra-fast processing speed and near real-time capability. Unlike traditional disk-based designs, in-memory computing enables data processing at scale. Hazelcast was founded in 2012 to provide alternatives to databases for use cases such as payment processing and fraud detection where even microseconds count. Its Global 2000 enterprise customers include J.P. Morgan Chase, Charter Communications, Ellie Mae, UBS and National Australia Bank.

C5 Capital Managing Partner Marcos Battisti is now the latest addition to Hazelcast’s board of directors, as part of this funding round.

“Hazelcast is a true leader in a rapidly emerging new market dynamic,” Battisti said. “With an incredibly impressive customer list and its advanced in-memory computing architecture, Hazelcast will continue to gain recognition as the world’s largest organizations evolve their business applications to take advantage of the in-memory computing era.”

RelatedRead More About Cloud Computing

Great Companies Need Great People. That's Where We Come In.

Recruit With Us