Acceldata Raises $35 Million Series B to Deliver the World’s First Enterprise Data Observability Cloud
SAN JOSE, Calif., Sept. 28, 2021 /PRNewswire/ -- Acceldata, the world's first enterprise Data Observability Cloud, 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 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. This helps Acceldata customers, like PhonePe (Walmart), Oracle, True Corporation, and PubMatic eliminate data complexity, scale data usage, and generate improved business outcomes. Although 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. Acceldata operates as one integrated data observability solution, setting it apart from competitors.
"Most companies don't have the expertise and resources to effectively manage their enterprise data systems," said Rohit Choudhary, Acceldata's CEO and Co-Founder. "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."
"Acceldata leads the market with a cloud platform that delivers true data observability that is continuous and comprehensive for complex enterprises" said George Mathew, Managing Director, Insight Partners. "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."
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, including Oracle, PubMatic, and True Digital, among many others. Acceldata now has customers in eight countries and more than 100 employees across the world.
"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." said Ashwin Rajeeva, Acceldata's Co-Founder and CTO. "Our mission is to provide complete data observability, so businesses can focus on growing their revenue by building great products and customer relationships."
Founded in 2018, Palo Alto, CA-based Acceldata has developed the world's first enterprise Data Observability Cloud to help enterprises transform their data systems from unreliable, hard-to-scale, and expensive to stable, agile, and cost efficient. Acceldata's products have been embraced by global customers, such as Oracle, PubMatic, PhonePe (Walmart), Pratt & Whitney, DBS, and many more. Investors in Acceldata include Insight Partners, March Capital, Lightspeed, Sorenson Ventures, and Emergent Ventures.
About Insight Partners:
Insight Partners is a leading global venture capital and private equity firm investing in high-growth technology and software ScaleUp companies that are driving transformative change in their industries. Founded in 1995, Insight Partners has invested in more than 400 companies worldwide and has raised through a series of funds more than $30 billion in capital commitments. Insight's mission is to find, fund, and work successfully with visionary executives, providing them with practical, hands-on software expertise to foster long-term success. Across its people and its portfolio, Insight encourages a culture around a belief that ScaleUp companies and growth create opportunity for all. For more information on Insight and all its investments, visit insightpartners.com or follow us on Twitter @insightpartners.