Acceldata, a Campbell, CA-based data observability platform, has secured $50 million in Series C Funding round. March Capital led the Series C round, with participation from Sanabil Investments, Industry Ventures and existing investors Insight Partners.
Since its founding, Acceldata has received close to $100 million in funding from venture capitalists such as Lightspeed, Sorenson Ventures, and Emergent Ventures.
The latest round’s proceeds will be used to extend go-to-market strategies for its Data Observability Platform and boost innovation.
In December last year, the startup revealed a new open-source version of its data platform for business users.
The open-source product covers public, private, and hybrid contexts and delivers robust and community-validated versions of data observability libraries.
In a recent poll by Censuswide, enterprise data leaders stated that they planned to prioritize investments in systems that enable visibility and that they planned to implement data observability in 2023 at an estimated rate of 85 percent.
Acceldata will use this funding to strengthen its relationships with Wipro, Snowflake, Databricks, and other data and analytics services providers while extending its reach into the Global 2000.
“Data teams are building revenue generating, mission-critical data products, but are missing purpose-built observability solutions to operate their data ecosystem. We are rapidly innovating to enable enterprises with a comprehensive data observability platform, providing visibility across the data supply chain,” said Rohit Choudhary, CEO and Co-founder of Acceldata.
Acceldata helps businesses simplify complex data operations for business usage
Acceldata was founded in 2018 and has created an enterprise data observability platform to assist businesses in creating and running excellent data products.
Customers worldwide, including Dun and Bradstreet, Verisk, Oracle, PubMatic, PhonePe (Walmart), and DBS, have embraced Acceldata’s cloud solutions.
The startup is increasing the number of ISVs and cloud service providers with which it has integrations. It is also raising awareness of data observability as a crucial area for enterprise investment.
The volume of enterprise data and the complexity of systems are snowballing, yet data engineering teams are understaffed and challenging to scale.
All businesses experience costly compliance failures due to operational complexity, failed data pipelines, inaccurate datasets, and escalating data management costs.
“Enterprises face an unprecedented challenge to satisfy business demands for data at scale. Acceldata is giving operational control back to the data teams with meaningful insights,” said Rajan Mehra, Partner at March Capital.