Hazelcast
By Hazelcast, Inc
Hazelcast is a leading in-memory computing and real-time data processing platform. Its core offerings focus on enabling businesses to leverage real-time analytics and AI to enhance performance and decision-making. Known for its unified platform combining distributed computing and a high-speed data store, Hazelcast supports use cases like fraud detection, payment processing, IoT edge computing, and AI/ML deployments.
Hazelcast was founded in 2010 with a mission to overcome database limitations for high-speed, real-time data processing. The company gained early traction with its In-Memory Data Grid (IMDG) product and has since evolved to offer comprehensive solutions for real-time streaming and batch data processing. Hazelcast has grown significantly, achieving annual recurring revenue (ARR) growth of 300% over three years and establishing a strong presence among Global 2000 enterprises.
Hazelcast has attracted substantial investments, including a $21.5 million funding round in 2019 led by C5 Capital, with participation from Bain Capital Ventures, Earlybird Venture Capital, and Capital One Growth Ventures. This funding supported its product expansion and go-to-market strategies. Its valuation reflects its positioning in the growing in-memory computing market.
Hazelcast offers a unified platform that integrates:
Distributed Compute Engine: Enables ultra-fast, low-latency data processing.
In-Memory Data Grid (IMDG): For storing and processing data in real-time.
Hazelcast Jet: A high-performance event stream processing engine.
Recent advancements include enhanced support for AI/ML workloads and real-time data enrichment, allowing businesses to process data at millisecond speeds for applications such as personalized offers and fraud prevention. These innovations position Hazelcast as a leader in real-time data platforms.
Hazelcast emphasizes customer-centricity and innovation, ensuring its platform addresses critical enterprise needs. It fosters a collaborative culture and values relationships with both clients and partners. This approach has earned it trust among major enterprises across sectors.
Hazelcast serves a diverse clientele, including major financial institutions like JPMorgan Chase and HSBC, retailers like Target, and automotive companies like Volvo. Its solutions are utilized for mission-critical applications, with measurable impacts such as improved fraud detection, increased conversion rates, and operational cost reductions. The developer community is supported through open-source projects, comprehensive documentation, and training resources.
