- Data Observability Cloud company Acceldata announced it raised $35 million. These are the details.
Acceldata — the world’s first enterprise Data Observability Cloud — announced it has raised $35 million to further expand its capabilities across data quality, data pipeline monitoring, and system infrastructure to enable enterprises to achieve operational excellence, innovation agility, and higher returns on their data initiatives. This round of funding was led by global venture capital and private equity firm Insight Partners with participation from new investor March Capital and existing investors Lightspeed, Sorenson Ventures, and Emergent Ventures.
Acceldata’s products offer observability across data quality, data pipelines and system infrastructure, in real-time, using sophisticated AI and machine learning algorithms. And this helps Acceldata customers, like PhonePe (Walmart), Oracle, True Corporation, and PubMatic eliminate data complexity, scale data usage, and generate improved business outcomes. Even though large organizations invest heavily in data and the related infrastructure to acquire, move, store, and process data, they face significant challenges in realizing the full potential of the data they collect. Plus Acceldata operates as one integrated data observability solution, setting it apart from competitors.
In October 2020 — when Acceldata raised its Series A round led by Sorenson Ventures — the company had tripled its revenue from 2019 to 2020 and added a variety of new Global 2000 customers like Oracle, PubMatic, and True Digital. And Acceldata now has customers in eight countries and more than 100 employees across the world.
KEY QUOTES:
“Most companies don’t have the expertise and resources to effectively manage their enterprise data systems. Our Data Observability Cloud is purpose-built to help businesses simplify complex data operations, expand data usage, and meet growing business requirements, all while reducing costs and increasing data engineering productivity. This investment from leading enterprise software VCs validates Acceldata’s vision. From day one, Acceldata focused on improving access to comprehensive data observability capabilities that improve data pipeline reliability and performance, while increasing data engineering team productivity.”
— Rohit Choudhary, Acceldata’s CEO and Co-Founder
“Acceldata leads the market with a cloud platform that delivers true data observability that is continuous and comprehensive for complex enterprises. Acceldata is unique because it handles data at rest as well as data in motion through the entire data pipeline with an enterprise architecture that is data source, infrastructure, and cloud provider-agnostic.”
— George Mathew, Managing Director, Insight Partners
“Data pipelines are like modern supply chains for digital information. When they break, business grinds to a halt. Yet no one was providing an effective data observability stack, and most companies don’t have the time, resources, or capabilities to build their own. Our mission is to provide complete data observability, so businesses can focus on growing their revenue by building great products and customer relationships.”
— Ashwin Rajeeva, Acceldata’s Co-Founder and CTO
