Acceldata, a Campbell, CA-based data observability platform, announced that it raised $50 million in Series C funding.
The round was led by March Capital, with additional investment from Sanabil Investments, Industry Ventures, and existing investors, Insight Partners.
The round will be used for accelerating innovation and expanding go-to-market efforts for its Data Observability Platform.
The company is utilizing this investment to further expand its footprint into the Global 2000 while supporting its existing partnerships with Snowflake, Databricks, and the leading data and analytics service providers, including Wipro and others.
Acceldata is expanding its integrations with cloud service providers and ISVs and continues to increase awareness of data observability as a must-have enterprise investment area.
“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.
New customer wins for Acceldata in 2022 included the largest telcos in the U.S. and the largest mortgage and insurance providers, which operate petabyte-scale data lakes and data warehouses.
Company: Acceldata Inc
Raised: $50.0M
Round: Series C
Funding Month: February 2023
Lead Investors: March Capital
Additional Investors: Sanabil Investments, Industry Ventures, and Insight Partners
Company Website: https://www.acceldata.io/
Software Category: Enterprise Monitoring Software
About the Company: Founded in 2018, Acceldata has developed the first enterprise data observability platform to help enterprises build and operate great data products. Acceldata's solutions have been embraced by global customers such as Dun & Bradstreet, Verisk, Oracle, PubMatic, PhonePe (Walmart), DBS, and many more. Since its inception, Acceldata continue to innovate to help data engineering, data quality, data reliability, and platform teams succeed in their data journey across the cloud-native, multi-cloud, hybrid cloud, or on-premises data systems. The company is on a mission to empower data teams to build and operate great data products and is headquartered in San Jose, California.
Source: https://www.acceldata.io/newsroom/acceldata-raises-fifty-million-in-series-c-funding