Hazelcast has announced raising an $11M Series B Venture Capital round to leverage their position as a leading open source In-Memory Data Grid and up and coming In-Memory NoSQL technology provider.
The round was led by Earlybird Venture Capital. Roland Manger from Earlybird will be joining the Board of Directors at Hazelcast. Existing investors including Ali Kutay (Seed), Rod Johnson and Bain Capital Ventures (Series A) Earlybird; Bain took a major position in this round, with approximately $5M, bringing the total raised to $13.5M.
Over the last three years, we have seen Hazelcast making significant progress in its path from an open source in-memory data grid project to a full-featured enterprise-class in-memory computing company,” said Roland Manger, Hazelcast’s newest Board member. “Today Hazelcast already provides a superior NoSQL solution, and is about to release a unique large scale caching product; We are confident that they will continue to lead the industry as Enterprise In-Memory Computing goes mainstream.”
This financing closed on Tuesday September 9th 2014 on the strength of major company milestones
including:
- General Availability of Hazelcast 3.3
- #1 InMemory Data Grid on DBEngines Ranking
- #4 Primary NoSQL Solution on JRebel Labs 2014 Survey
- Leading NoSQL Solution on InfoQ NoSQL adoption research
Developers love the simplicity of embedding Hazelcast NoSQL distributed data structures in their applications.” said Talip Ozturk, founder and CTO of Hazelcast “Because it is deployed as a grid, it delivers extreme performance and cloud elasticity.”
Forrester Analyst Mike Gualtieri states in his blog titled NoSQL And Elastic Caching Platforms Are Kissing Cousins “NoSQL Wants To Be Elastic Caching When It Grows Up”, Showing how NoSQL is increasingly evolving towards the Hazelcast In-Memory Computing model.
According to both InfoQ and JRebel Labs, Hazelcast is a leading NoSQL provider ranking #4 behind MongoDB, Apache Cassandra and Redis. DataStax, the open source provider of Apache Cassandra services and technologies recently announced raising $106M in a pre-IPO round.
Hazelcast is respected in NoSQL because of its extreme In-Memory Computing performance and elastic scalability. According to independent benchmarks, Hazelcast is 10x faster than Cassandra on reads and also faster on writes. For applications where speed counts, Hazelcast provides an elastically scalable KeyValue store with extreme in-memory performance under the same Apache 2 open source software license that Apache Cassandra uses.
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