Following the investment C5 Capital take a seat on the board of the data technology company to help further accelerate the growth of Hazelcast’s product roadmap
C5 Capital, the specialist venture capital firm focused on investing in cyber security, data analytics and cloud computing infrastructure, today announced that it has led a $21.5 million funding round in Hazelcast. C5 Capital will join Hazelcast’s Board of Directors, bringing significant experience working with fast-growing cloud computing companies. Existing Hazelcast investors, Bain Capital Ventures, Earlybird Venture Capital and Capital One Growth Ventures also participated in the round.
Hazelcast, based in Palo Alto, California, is the leading in-memory computing platform that delivers the System of Now™, an utlra-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 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. With this new investment, Hazelcast, which was founded in 2012, will accelerate its product roadmap and bolster go-to-market.
Kelly Herrell, CEO of Hazelcast, said: “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. 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.”
C5 is a prolific investor in the secure data ecosystem, with a specialism in mid to late stage pioneering and disruptive companies in cloud computing, cyber security, data analytics, and AI. Earlier this year it anchored a $17 million Series B financing round in Blue Cedar, the leading mobile app security integration platform, and last November, it led an $18m investment round in 4iQ, the US and European identity-focused cyber intelligence company. In 2018 C5 Capital had two exits, selling its investments in both the Danish identity and access management provider Omada and the Hungarian privileged access management company Balabit.
Andre Pienaar, Founder and Managing Partner at C5 Capital, added: “As the world’s largest organisations continue to evolve their business applications the need for Fast Data will become ever more apparent. Hazelcast is uniquely positioned to support these organisations and we are delighted to have led this funding round.”
William Kilmer, US Managing Partner at C5 Capital, said: “At C5 Capital, we invest in companies that empower enterprises to generate more value from their data. As the sheer volume of data available continues to grow, enterprises need ever faster systems for helping them to access, analyse and asses that data. Hazelcast offers the world’s only in-memory computing platform that can process both stored and streaming data, with the lowest possible latency, at any scale, anywhere.”
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About C5 Capital
C5 Capital Limited (C5) is a specialist venture capital firm, focused on investing in cyber security, data analytics and cloud computing infrastructure. Headquartered in London, C5 also has offices in Washington, Munich, Luxembourg and Bahrain. For more information, visit: www.c5capital.com.
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. https://hazelcast.com/.