Acceldata Secures $50M for Data Observability Expansion
Acceldata, a Campbell, CA-based data observability platform, has secured $50 million in Series C funding. The company will use this investment to drive innovation and expand its market reach in the stock market today.
Acceldata's CEO and Co-founder, Rohit Choudhary, highlighted the need for purpose-built observability solutions to manage complex data ecosystems effectively. The funding round was led by March Capital, with participation from Sanabil Investments, Industry Ventures, and existing investor Insight Partners.
Acceldata will use the funds to accelerate its go-to-market efforts and expand its footprint into the Global 2000. This includes strengthening its partnerships with Snowflake, Databricks, and leading data and analytics service providers. The company is also expanding its integrations with cloud service providers and ISVs, and increasing awareness of data observability as a critical enterprise investment area in the djia today and nasdaq today.
In 2022, Acceldata won new customers including the largest telcos in the U.S. and major players in the mortgage and insurance sectors, which operate petabyte-scale data lakes and data warehouses.
With the latest funding, Acceldata is well-positioned to drive innovation and expand its reach in the data observability market. The company's purpose-built solutions and strategic partnerships are set to benefit data teams operating large-scale data ecosystems in the world market.
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