Acceldata, the data observability company, is announcing its $50 million Series C funding, led by March Capital, with participation from Sanabil Investments, Industry Ventures, and Insight Partners.
This funding milestone will allow Acceldata to expedite innovation, expand its Data Observability Cloud’s go-to-market efforts, and support existing partnerships with Snowflake, Databricks, and data and analytics service providers such as Wipro. The investment will also aid Acceldata in developing its integrations with cloud service providers and ISVs.
“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.”
Citing a recent survey by Censuswide, 80% of enterprise data leaders expressed their plans to prioritize investments in systems to supply visibility, while 85% plan to deploy data observability in 2023—positioning Acceldata’s solution to be a valuable asset for navigating growing data volumes, system complexity, scale challenges, and data engineer workforce shortages.
“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.”
The investments follow a momentous year for Acceldata as an enterprise; the launch of the Acceldata Data Observability Cloud, its availability on the AWS Marketplace, integration with Snowflake and Databricks ecosystems, and the launch of the Open Data Platform have marked Acceldata’s growing success, according to the company.
“It’s been incredible seeing Acceldata’s accelerating growth in the most strategic customers’ data observability needs,” said George Mathew, managing director at Insight Partners. “Given its focus as an enterprise-scale platform, Acceldata is well-positioned to extend its lead in this mission-critical market.”
For more information about Acceldata’s funding and Data Observability Cloud, please visit https://www.acceldata.io/.