Hazelcast, a San Mateo, Calif.-based in-memory computing platform that delivers fast application performance at scale, expanded its Series D funding round to $50m.
The European Bank for Reconstruction and Development (EBRD), via its Venture Capital Investment Programme, and the German development finance institution Deutsche Investitions- und Entwicklungsgesellschaft mbH (DEG) joined C5 Capital, Bain Capital Ventures, Earlybird Venture Capital and Capital One Growth Ventures in this round, while Comerica Bank has provided a growth debt facility.
The company intends to use the funds to further accelerate its expanding roadmap for supporting enterprise cloud, edge and machine learning initiatives, including the previously announced co-engineering initiative with Intel and the reselling agreement through IBM. Hazelcast will also expand its global footprint to serve its customers in the financial services, telecommunications, e-commerce and other key industries.
Led by Kelly Herrell, CEO, Hazelcast provides an in-memory computing platform capable of fast performance at massive scale in a simplified, cloud-native package which powers any application that uses stored and streaming data, including ones leveraging AI/ML. Built for low-latency data processing, Hazelcast’s cloud-native in-memory data store and event stream processing software technologies are used by companies such as JPMorgan Chase, Charter Communications, Ellie Mae, UBS and National Australia Bank to accelerate data-centric applications.