Hazelcast Closes $21.5 Million to Advance In-Memory Computing Leadership, Bring System of Now to Enterprises

UK-Based C5 Capital Leads Round, Expanding Broad International Support

PALO ALTO, Calif.–(BUSINESS WIRE)–Hazelcast,
the leading in-memory computing platform that delivers the System of
Now™, today announced it has closed a $21.5 million funding round led by
new investor C5 Capital, a UK-based venture capital firm focused on
cybersecurity, data analytics and cloud computing. Existing investors
Bain Capital Ventures, Earlybird Venture Capital and Capital One Growth
Ventures also participated in the round. With this new investment,
Hazelcast will accelerate its product roadmap and bolster go-to-market
capabilities, including strategic partnering.

According to Gartner(1), “Digital business model imperatives
are demanding cost-effective support for real-time analytics, hyperscale
architectures and fast access to data demanded by digital business
models, which in turn drives fast growth for most in-memory computing
(IMC)-enabling technologies and IMC-enabled architectures.”

“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.”

A System of Now is an ultra-fast processing architecture for
mission-critical applications where microseconds matter. The world’s
most data-centric companies complement their systems of record, such as
databases, by creating a System of Now that operates in near real-time
to accelerate applications, such as online stores, fraud detection,
online trading and other customer-facing use cases. Unlike the
disk-based designs used by systems of record, the System of Now uses
in-memory computing to process data at tremendous speed and scale,
especially for new data-centric workloads.

With this new round, C5 Capital Managing Partner Marcos Battisti joins
Hazelcast’s board of directors.

“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.”

With a strong customer base consisting of predominantly Global 2000
enterprises, Hazelcast’s annual recurring revenue (ARR) has grown 300
percent in the past three years. Hazelcast customers include J.P. Morgan
Chase, Charter Communications, Ellie Mae, UBS, National Australia Bank
and many more.

Founded in 2012, Hazelcast launched its in-memory data grid (IMDG)
product to directly address the inherent limitations of databases in use
cases where microseconds count, including payment processing,
microservices, fraud detection and many more. More recently, Hazelcast
introduced two new products: Hazelcast Cloud, a managed service, and
Hazelcast Jet, the industry’s fastest event stream processing engine.

Additional Commentary

Bill Lehmann, principal at Bain Capital Ventures
“We see
massive potential in Hazelcast’s in-memory computing platform and are
excited about the company’s aggressive growth trajectory. Hazelcast is
going after a multi-billion dollar opportunity, supported by the macro
tailwinds of falling DRAM prices and the proliferation of data volume
and sources. Many industry leaders in financial services, telco and tech
already rely on Hazelcast’s IMDG product to address their critical
latency-sensitive use cases; we look forward to seeing accelerated
adoption of Hazelcast’s Jet and Cloud products.”

Roland Manger, co-founder and partner at Earlybird Venture Capital
“The
digital landscape has presented a number of challenges for enterprises
and we are confident that Hazelcast is the answer to many of them,
particularly those where time is of the utmost importance. We believe
in-memory computing is just entering the mainstream and Hazelcast’s
superior speed at enormous scale place it ahead of the competition in
providing the necessary solutions.”

Venkatesh Seetharam, partner at Capital One Growth Ventures
“As
enterprises move applications and workloads to the cloud, performance is
becoming a key focus area to maintain and improve business service level
agreements. Hazelcast has a proven history of delivering extremely fast
performance for time-sensitive, cloud-native applications and we firmly
believe the company has the right strategy and roadmap to support the
world’s most demanding companies.”

Additional Resources

For more information on Hazelcast and the funding, please visit these
additional resources:

(1) Gartner, Inc. “Hype Cycle for In-Memory Computing Technology, 2018”
by Massimo Pezzini, Fabrizio Biscotti, July 23, 2018.

About Hazelcast, Inc.

Hazelcast delivers the System of Now™, an in-memory computing platform
that empowers Global 2000 enterprises to deliver innovative,
low-latency, data-centric applications. Built for ultra-fast processing
at extreme scale, Hazelcast’s cloud-native in-memory data grid and event
stream processing technologies are trusted by leading companies such as
J.P. Morgan Chase, Charter Communications, Ellie Mae, UBS and National
Australia Bank to accelerate business-critical applications.

Hazelcast is headquartered in Palo Alto, CA, with offices across the
globe. To learn more about Hazelcast, visit https://hazelcast.com.

Contacts

Matt Wolpin
Director of Communications, Hazelcast
[email protected]

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