Acceldata, provider of enterprise data observability, announced the company has received a $10 million Series C funding addition from new investor Prosperity7 Ventures to fuel its go-to-market expansion.
The investment brings the company’s total capital raised to over $100 million as it reports significant corporate momentum fueled by customer growth, product innovation, global expansion, and the acquisition of Bewgle, according to the company. In addition, the company has expanded its executive leadership with the appointment of Mike McQuaid as chief revenue officer, Mahesh Kumar as chief marketing officer, and Ramon Chen as chief product officer.
“We have invested heavily in our data observability platform over the last five years and the world’s largest enterprises, including many Fortune 500 companies, are using our products in the most complex data operations to operate business-critical data products at petabyte scale,” said Rohit Choudhary, CEO and co-founder of Acceldata. “This funding by a premier investor, Prosperity7, the addition of a world-class executive team, and AI-led innovation will propel our mission of shaping the rapidly expanding data observability category.”
To support the needs of its growing customer base, Acceldata has expanded its global presence into Canada with the opening of a new office in the greater Toronto metropolitan area.
The office brings the company’s footprint to three locations across North America and Asia with employees worldwide. The Toronto location has more than doubled its employee headcount over the last four months to support the company’s customers, with plans to continue to expand the team over the coming months.
Last month, Acceldata also acquired Bewgle, a cutting-edge AI platform, to expand its best-in-class enterprise data observability capabilities into AI and large language models (LLMs). Led by Bewgle founders Ganga Kumar and Shan Shah, both former Google employees, the AI team will expand the company’s product offerings to ensure reliable, high quality data pipelines across cloud, hybrid, and on-premises environments.
For more information about this news, visit www.acceldata.io.