Data Observability Cloud Company Acceldata Closes $ 35 Million
- Data Observability Cloud Acceldata has announced that it has 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 data quality, data pipeline monitoring and system infrastructure capabilities to enable businesses 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 provide real-time observability of data quality, data pipelines, and system infrastructure using sophisticated AI and machine learning algorithms. And it helps Acceldata customers, like PhonePe (Walmart), Oracle, True Corporation, and PubMatic, eliminate data complexity, evolve data usage, and drive better business results. Even as large enterprises invest heavily in data and the related infrastructure to acquire, move, store and process data, they face significant challenges in harnessing the full potential of the data they collect. In addition, Acceldata operates as an integrated data observability solution, which sets it apart from its competitors.
By October 2020 – when Acceldata increased 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 around the world.
âMost businesses don’t have the expertise and resources to effectively manage their business data systems. Our Data Observability Cloud is uniquely designed to help businesses simplify complex data operations, expand data usage, and meet growing business demands, while reducing costs and increasing data engineering productivity. . This investment from leading enterprise software VCs validates Acceldata’s vision. From day one, Acceldata has focused on improving access to comprehensive data observability capabilities that improve the reliability and performance of the data pipeline, while increasing team productivity. data engineering.
– Rohit Choudhary, CEO and co-founder of Acceldata
âAcceldata is the market leader with a cloud platform that delivers true, continuous and comprehensive data observability for complex businesses. Acceldata is unique in that it manages data at rest as well as data in motion across the entire data pipeline with an enterprise architecture independent of the data source, infrastructure and cloud provider.
– George Mathew, Managing Director, Insight Partners
âData pipelines are like modern supply chains for digital information. When they break, business stops. 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 comprehensive data observability, so businesses can focus on growing their revenue by building great products and customer relationships.
– Ashwin Rajeeva, co-founder and CTO of Acceldata