Acceldata secures $50 mn from March Capital, others
Founded in 2018, Acceldata claims to have built world’s first enterprise data observability platform to help companies build and operate great data products
PremiumMumbai: Data observability platform Acceldata on Thursday said it has secured Series C funding of $50 million (around ₹400 crore) led by existing investor March Capital. The round also saw participation from Sanabil Investments, Industry Ventures and Insight Partners, among others.
The company did not disclose the valuation post this fundraise.
Acceldata will deploy the fresh infusion to expand its go-to-market and scaling up product innovation.
Founded in 2018, Acceldata claims to have built world’s first enterprise data observability platform to help companies build and operate great data products.
In 2021, it had raised $35 million in a Series B funding led by private equity firm Insight Partners.
This round also saw new investor March Capital and existing investors Lightspeed, Sorenson Ventures, and Emergent Ventures.
The company has raised $100 million in total funding till date.
It counts Dun & Bradstreet, Verisk, Oracle, PubMatic, PhonePe (Walmart) and DBS, among others, as its customers.
The proceeds will be also used to expand the company's footprint into the Global 2000, while supporting existing partnerships with Snowflake, Databricks and Wipro, among others.
“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, co-founder and chief executive officer at Acceldata.
“We are rapidly innovating to enable enterprises with a comprehensive data observability platform, providing visibility across the supply chain of data," he added.
“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…", said said Rajan Mehra, partner at March Capital.
March Capital is a venture firm headquartered in Santa Monica, California and investing globally since 2014. With over $1.65 billion in capital over 4 funds and across 25 technology companies, March focus on cloud-based software, automation, AI & IT infrastructure.
Data observability space has been gaining investors’ traction for quite sometime now.
In 2021, Israel-based data observability startup Coralogix raised $55 million led by Greenfield Partners.
Prior to that, LOGIQ raised $1.8 million in a seed funding exercise led by Leo Capital.
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