Acceldata Raises $50 Million In Series C Funding The fund raised will be used for accelerating innovation and expanding go-to-market efforts for the Data Observability Platform
By Teena Jose
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Acceldata, the market leader in data observability, has raised $50 million in Series C funding. This latest round of funding was led by March Capital, with additional investment from Sanabil Investments, Industry Ventures, and existing investors, Insight Partners. The fund raised will be used for accelerating innovation and expanding go-to-market efforts for the Data Observability Platform.
"Data teams are building revenue generating, mission-critical data products, but are missing purpose-built observability solutions to operate their data ecosystem. We are rapidly innovating to enable enterprises with a comprehensive data observability platform, providing visibility across the supply chain of data," said Rohit Choudhary, CEO and co-founder of Acceldata.
Acceldata is utilizing this investment to further expand its footprint into the Global 2000, while supporting the company's existing partnerships with Snowflake, Databricks and the leading data and analytics services 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, according to the company's statement.
"Enterprises face an unprecedented challenge to satisfy business demands for data at scale. 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," said Rajan Mehra, partner at March Capital.
Founded in 2018, Campbell, CA-based Acceldata has claimed to be developed the world's first enterprise data observability platform to help enterprises build and operate great data products.
