The open-source data distribution platform Hazelcast that expanded its business from Turkey to Silicon Valley in 2012 was last heard of in 2014 with the investment of $11 million it received from Earlybird Venture Capital.
Hazelcast announced to have closed its D series investment tour with an investment of $50 million.
The D series, commencing with the company's receipt of $ 21 million in June 2019, ended with an investment of $28 million.
While the investment capital program of the European Bank for Reconstruction and Development (EBRD) and Deutsche Investitions led the investment tour; C5 Capital, Bain Capital Ventures, Earlybird Venture Capital, Capital One Growth Ventures and Comerica Bank were the participants.
In his declaration on the investment, CEO Kelly Herrell stated that the investment would be used to expand the company's footprint, including the engineering program created in collaboration with Intel, as previously announced by the company, and a sales agreement through IBM; along with the acceleration of certain benefits, enterprise clouds, and machine learning initiatives.
We'd like to note that HazelCast, founded by Enes Akar, Fuad Malikov, and Talip Öztürk works in data transfer business with In-Memory type Data Grid servers.
The company drawing investors' attention thanks to the current demand for rapid In-memory programming in Silicon Valley, might facilitate the world's leading companies in implementing next-generation solutions.
Many solutions for various industries from real-time fraud detection to payment processes, from risk analysis to maintenance forecasts, and even connected cars are included in solutions companies can implement by utilizing Hazelcast.
Note that the companies can also make improvements in their applications by using HazelCast infrastructure. Minimizing the in-app waiting times the users, Hazelcast likewise improves the customer experience.
Let us also note that the company also has a Hazelcast Cloud system. As a service organizing, scaling and updating IMDG clusters, Hazelcast Cloud is supported in corporate and hybrid clouds, as well as public clouds such as Amazon Web Services, Microsoft Azure, Cloud Foundary, OpenShift, and Google Cloud Platform.
Taking a look at the investors, it can be said that the application’s service speed in real-time fraud detection and payment processes especially appealed the finance and banking industries.
In fact, Hazelcast's customers include 24 of the world's largest banks.
Serving eight of the world's leading retailers as well, Hazelcast added six of the world's greatest telecom companies to its customers, mainly the JPMorgan Chase, Charter Communications, Ellie Mae, UBS, and National Australia Bank. On the other hand, Hazelcast's competitors include Igneous Systems, Kubernetes, Reduxio and OnApp, as well as Alluxio.