Hazelcast, a Palo Alto, CA-based in-memory computing platform, closed a $21.5m funding round.
The round was led by new investor C5 Capital, with participation from existing investors Bain Capital Ventures, Earlybird Venture Capital and Capital One Growth Ventures. With this new round, C5 Capital Managing Partner Marcos Battisti joined Hazelcast’s board of directors.
The company intends to use the funds to accelerate its product roadmap and bolster go-to-market capabilities, including strategic partnering.
Led by Kelly Herrell, CEO, Hazelcast delivers the System of Now™, an in-memory computing platform that allows Global 2000 enterprises to deliver innovative, low-latency, data-centric applications. Its cloud-native in-memory data grid and event stream processing technologies are used by companies such as J.P. Morgan Chase, Charter Communications, Ellie Mae, UBS and National Australia Bank to accelerate business-critical applications.
More recently, the company introduced two new products:
- a managed service, and
- an event stream processing engine.