In-Memory Computing Leader Hazelcast Raises $11M Series B
September 18, 2014 (PRLEAP.COM) Technology NewsSeptember 18, 2014 - Palo Alto, CA - Hazelcast today announced raising an $11M Series B round to leverage their position as the leading In-Memory Data Grid and up-and-coming 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 increased their position in this round, following Earlybird 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:
"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.
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 Key-Value store with extreme in-memory performance under the same Apache 2 open source software license that Apache Cassandra uses.
Hazelcast (www.hazelcast.com) develops, distributes and supports the leading open source in-memory data grid. The product, also called Hazelcast, is a free open source download under the Apache license that any developer can include in minutes to enable them to build elegantly simple mission-critical, transactional, and terascale in-memory applications. The company provides commercially licensed Enterprise editions, Hazelcast Management Console and professional open source training, development support and deployment support. The company is privately held and headquartered in Palo Alto, California.
Established in 1997 Earlybird has raised over €700 million ($900 million) in fund commitments. We have backed 100 companies, some of which have sparked significant innovations in business and technology and resulted in large scale ($1bn+) IPOs and trade sales. Earlybird backs European companies with global ambitions and our active portfolio currently includes 32 companies across the consumer Internet and enterprise services space.
Further information is available at: www.earlybird.com, Twitter: www.twitter.com/earlybirdvc. LinkedIn: www.linkedin.com/company/earlybird-venture-capital or Facebook:www.facebook.com/EarlybirdVC.
About Bain Capital Ventures
Bain Capital Ventures is the venture arm within Bain Capital, which has approximately $70 billion of assets under management worldwide. The firm's history of investing in early stage companies dates back to 1984 with over 125 venture investments since inception. Bain Capital Ventures manages over $2 billion of assets, has over 70 active portfolio companies, and has offices in Boston, New York, and Palo Alto. The firm has helped steer many ideas to success by working in partnership with management teams, pairing talented and passionate entrepreneurs with industry experts, opening doors to customers, and collaborating on long-term strategies. For more information, please visit www.baincapitalventures.com.
Keywords: Hazelcast, In-memory data grid, Document Database, Object Database, In-memory Database, computing, big data, NoSQL, grid computing, Apache License, Open Source, Oracle Coherence, Pivotal Gemfire, Software AG Terracotta
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