Acceldata Announces USD 50 Million in Series C Funding to Expand Market Leadership and Product Innovation in Data Observability

Date:

Trending

Acceldata, the market leader in data observability, has raised USD 50 million in Series C funding. This latest round of funding was led by March Capital, with additional investment from Sanabil Investments, Industry Ventures, and existing investors, Insight Partners.

- Advertisement -

Acceldata has raised nearly $100 million in funding from top tier VCs including Lightspeed, Sorenson Ventures, and Emergent Ventures since its inception. The round will be used for accelerating innovation and expanding go-to-market efforts for its Data Observability Platform.

Enterprise data volume and system complexity is increasing exponentially while data engineering teams are understaffed and hard to scale. Operational complexity, failing data pipelines, unreliable datasets, and rising data management costs inhibit data ROI, and cause costly compliance failures for enterprises across all industries. In a recent survey conducted by Censuswide, 80 percent of enterprise data leaders expressed their plans to prioritize investments in systems to provide visibility, and 85 percent plan to deploy data observability in 2023.

“Enterprises face an unprecedented challenge to satisfy business demands for data at scale,” said Rajan Mehra, Partner at March Capital. “Acceldata is leading the charge for the data observability industry, giving operational control back to the data teams with meaningful insights and we’re very excited to join them along this ride.”

“Data teams are building revenue generating, mission-critical data products, but are missing purpose-built observability solutions to operate their data ecosystem,” said Rohit Choudhary, CEO and Co-founder of Acceldata. “We are rapidly innovating to enable enterprises with a comprehensive data observability platform, providing visibility across the supply chain of data.”

Acceldata is utilizing this investment to further expand its footprint into the Global 2000, while supporting the company’s existing partnerships with Snowflake, Databricks and the leading data and analytics services providers including Wipro and others. Acceldata is expanding its integrations with cloud service providers and ISVs, and continues to increase awareness of data observability as a must-have enterprise investment area.

“It’s been incredible seeing Acceldata’s accelerating growth in the most strategic customers’ data observability needs. Given its focus as an enterprise-scale platform, Acceldata is well-positioned to extend its lead in this mission-critical market,” said George Mathew, Managing Director at Insight Partners.

This news comes off the heels of an impressive 2022 for Acceldata, which netted 100% YoY growth of new logos in Fortune 500. New customer wins for Acceldata in 2022 included the largest telcos in the U.S. and the largest mortgage and insurance providers, which operate petabyte scale data lakes and data warehouses.

- Advertisement -

Other major product milestones in 2022 included

The general availability of the Acceldata Data Observability Platform, the first and only data observability platform to address all four forms of data observability.

Availability of the Acceldata Data Observability Platform on the AWS Marketplace.

Brought enterprise-grade data observability to the Snowflake and Databricks ecosystems.

Announced the Open Data Platform, a free fully supported Hadoop open source data platform and several data observability libraries.

About Acceldata

Founded in 2018, Campbell, CA-based Acceldata has developed the worlds first enterprise data observability platform to help enterprises build and operate great data products. Acceldatas solutions have been embraced by global customers, such as Dun & Bradstreet, Verisk, Oracle, PubMatic, PhonePe (Walmart), DBS, and many more. Acceldata investors include Insight Partners, March Capital, Industry Ventures, Lightspeed, Sorenson Ventures, Sanabil, and Emergent Ventures. Contact us to learn about the benefits of data observability.

THE SNAPSHOTS, IN YOUR INBOX

Get quick snaps of everyday happening, directly in your inbox.

- Advertisement -

We don’t spam! Read our privacy policy for more info.

Support our independent journalism PayPal (Outside India) For PayU (For Indian Readers).

More Latest Stories

More Articles

Pokarna Engineered Stone Limited Commits Rs 440 Crores for New Bretonstone Line

Pokarna Engineered Stone Limited (PESL) said on Tuesday it will invest Rs. 440 crore to expand production capabilities at its Mekaguda facility in Telangana....

Coinbase launches COIN50 Index To Track Top 50 Cryptos On its Exchange

Leading crypto trading platform Coinbase on Tuesday announced the launch of the Coinbase 50 Index (COIN50), a regulated cryptocurrency benchmark designed to provide transparent and reliable exposure to the crypto market. Developed in partnership with Coinbase Asset Management and Market Vector Indexes, the new index...

Donald Trump To Shut Department of Education; Plans To Shift Responsibilities To States

President-elect Donald Trump announced on Monday that his administration intends to close the Department...

The Trump Effect: Crypto Market Hits $3 Trillion Market Cap; Bitcoin Surges $87K, While Ethereum Stood At $3k

Following Donald Trump's presidential election victory, the cryptocurrency market surged, reaching a whopping $3.02...
00:04:07

Protests Erupts in Valencia Over Deadly Floods in Eastern Spain

Over ten thousand people took to the streets of Valencia to protest against the...

UltraverseNFT Launches Sandalwood backed NFT for Eco-Conscious Investors

UltraverseNFT is proud to introduce its groundbreaking Sandalwood NFTs, designed to redefine eco-conscious investments...

4 Key Ways Robotics May Change Warehouse Operations by 2030

The landscape of warehouse operations is poised for significant transformation by 2030 with the...

VIDEO: Israeli PM Netanyahu Visits Lebanese Border, Promises Strong Action Against Hezbollah

During a recent visit to the Lebanese border, Israel's Prime Minister Benjamin Netanyahu highlighted...
00:01:10

Tom Homan Old Video Goes Viral, After Donald Trump Taps Him As Border Czar

An old video of Tom Homan, former acting head of US Immigration and Customs Enforcement (ICE), went viral on social media after President-Elect Donald...

“I Will End the War in Gaza,” Kamala Harris to Arab American Community

In a final bid to win over Arab American voters in the closing stages...

FULL SPEECH: Cardi B Addresses Kamala Harris Rally In Wisconsin

Singer Cardi B addressed a rally in Milwaukee, Wisconsin, showing her support for presidential...

Customer Sentiment Analysis in Retail Banking: Leveraging Speech Analytics for Deeper Insights

Jeff Bezos, the Founder of Amazon, famously stated, “It is not the customer’s job...
00:03:45

US President Biden Apologies To Native Indians For Horrific Boarding School Policy

During a visit to the Gila River Indian Community in Arizona, President Joe Biden...
00:00:25

Kriya: PM Netanyahu Closely Monitors ‘Military Operations’ On Iran

The Israeli Prime Minister's Office has released a new video showing Prime Minister Benjamin Netanyahu and Defense Minister Yoav Gallant closely monitoring the ongoing...

Iran Should Not Respond To Israeli Attack: UK PM Keir Starmer

The United Kingdom's Prime Minister Keir Starmer has requested Iran to avoid retaliation after Israel conducted airstrikes on several military sites in Tehran overnight. Speaking at the press conference in Samoa, the prime minister said, "Israel has the right to defend itself against Iranian aggression....

APP Reviews: Bengali Betting Sites

Recognizing the increasing demand for an exhilarating and convenient gambling experience in the Bengali...

Interactive Learning: Elevating Concept Clarity Through Online Education

In today’s digital age, virtual learning has taken center stage, with live online lessons...
00:00:21

‘Not Our King’ Australian Politician Lidia Thorpe Heckled King Charles

Following King Charles' keynote speech in the Australian parliament, Senator Lidia Thorpe accused the...
00:00:00

Live: UN Security Council Meeting on Russia Ukraine Security

The members of the United Nations Security Council met on Monday to discuss the...

Rethinking IT Infrastructure in the AI era

The IT infrastructure landscape is undergoing significant changes in the AI era. Adopting AI...

TechGraph Introduces New Rates for Press Releases and SEO Articles

TechGraph has announced a new pricing structure for businesses looking to publish press releases...

Leveraging AI in Press Release Distribution: The Future of PR

Over the years the field of Public Relations (PR) has undergone significant transformation with...

Identifying the Key Loopholes in the Current Digital Wallets

Digital wallets have evolved to meet the demands of decentralized solutions built with blockchain...

A Connected GRC Approach is a Strategic Imperative for Modern Businesses

The approach to implementing GRC is rapidly evolving globally. The reason? Adapting to today’s...

Customer Sentiment Analysis in Retail Banking: Leveraging Speech Analytics for Deeper Insights

Jeff Bezos, the Founder of Amazon, famously stated, “It is not the customer’s job...

Vehant Technologies’ Shailendra Kumar Singh On Leveraging AI To Tackle India’s Traffic Challenges

During an interview with our editorial team, Shailendra Kumar Singh, Business Unit Head ,...

United Nations Security Council Holds Meeting On Israel Middle East Situation

UN LIVE: Members of the United Nations Security Council meet to discuss the Israel...

TVS Motor Achieves Highest Ever Revenue and Profits in Q2

TVS Motor Company posts highest ever operating revenue of Rs. 9,228 Crores registering a...
00:00:00

Live From Parliament: UK Deputy PM Angela Rayner takes PMQs

London News: The United Kingdom (UK) deputy prime minister Angela Rayner takes questions from...
00:03:45

US President Biden Apologies To Native Indians For Horrific Boarding School Policy

During a visit to the Gila River Indian Community in Arizona, President Joe Biden...

Identifying the Key Loopholes in the Current Digital Wallets

Digital wallets have evolved to meet the demands of decentralized solutions built with blockchain...

Serhii Tokarev’s Strategies for Improving Math Education in Ukraine

Mathematics is essential in many areas of life, from technology and space exploration to...

A Connected GRC Approach is a Strategic Imperative for Modern Businesses

The approach to implementing GRC is rapidly evolving globally. The reason? Adapting to today’s...