Open source In-Memory Data Grid Hazelcast has secured an $11 million Series B Venture Capital round last week.
Roland Manger from Earlybird Venture Capital, who will be joining the Board of Directors at Hazelcast, said, “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.”
“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,” he added.
Spearheaded by Earlybird Venture Capital, the round also saw participation from existing investors like Ali Kutay (Seed), Rod Johnson and Bain Capital Ventures who, with approximately $5M, played a key benefactor, raising the total to $13.5M.
Owing to its extreme In-Memory Computing performance and elastic scalability, Hazelcast is fast becoming a top choice in NoSQL. Independent experts point out that Hazelcast is 10x faster than Cassandra on reads and faster on writes. They provide speed intensive apps with “an elastically scalable Key-Value store with extreme in-memory performance” utilizing Apache 2 open source software license that is in use by Cassandra as well, reports Hazelcast in a statement.
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(Image Credit: Hazelcast)
