Acceldata raises $35mn in Series B funding led by Insight Partners

Acceldata, the world's first enterprise Data Observability Cloud founded by two Indian founders, has raised $35 million in Series B  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.

This funding will be used tor 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. 

In India, Acceldata will utilize 1/3rd of the fund in R&D and building cutting-edge products in the data observability space. The company is also committed to expanding its engineering team in Bengaluru and plans to increase the current headcount from 90 to 220 by the end of 2022.

Rohit Choudhary, Acceldata's CEO and co-founder said: "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." 

Acceldata's products offer observability across data quality, data pipelines, and system infrastructure, in real-time, using 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. 

"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. 

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.