Acceldata, the company behind the data observability platform used by multinational companies such as Oracle and Verisk, today announced it has raised $50 million in Series C funding.
Founded in 2018, San Jose-based Acceldata helps organizations understand the health of their data and identify data issues that may be spread across multiple clouds, applications, and systems is one of a growing number of companies that are setting out to
With pre-built integrations such as Snowflake, Databricks, BigQuery, and Amazon Redshift, use Acceldata to assess the quality of your company’s data in transit or at rest, as well as gain insight into the infrastructure behind your data pipelines can do. .
“Building trust in data requires streamlining the flow of information from multiple sources and efficiently managing it through data pipelines,” Acceldata CEO and co-founder Rohit Choudhary told TechCrunch. explained to “This not only supports analytics initiatives but also maximizes business value. Additionally, data observability ensures that the data used for analytics and governance purposes is relevant and meets its intended goals. is guaranteed.”
actual accelerator data image credit: acceleration
Recession-proof?
Despite all the plummeting valuations, down rounds, and layoffs affecting the tech world, over the past year there’s been a growing sense that the observability vertical can withstand a recession just a little bit more. Observe, Monte Carlo, Cribl, Manta, Coralogix, and others all raised significant sums of money last year, but in the short five weeks of 2023, two fledgling observability startups so far are Metaplane and Chaos Genius. , announced seed funding rounds of $8.4 million and $3.3 million, respectively.
Note that not all “observability” companies are created equal. Some companies focus solely on more traditional application observability to help engineers gather software performance metrics, while others focus on data observability. I’m working on it, but I’m focused on one or two specific layers. such as “quality” and “infrastructure”. Acceldata says it differentiates itself by covering the full gamut of layers across data infrastructure, quality, pipeline, and users. It says it will support more use cases, including “spending intelligence” that helps customers manage and predict data processing costs, and provide insights into data reliability. A lot of money in computational costs.
Acceldata has raised about $46 million to date, and with another $50 million in bank funding, Choudhary said the new infusion of funding will make data observability a top priority for data. As for why, he said it would help the company spread the good word. Enterprise driven.
“The data industry is so broad that there continues to be confusion over terminology like data observability, creating a need for education about its ‘what and why’ and its benefits to businesses,” Choudhary said. said. With this funding, Acceldata will increase industry awareness through thought leadership, market education, product and service expansion and innovation to better meet evolving customer needs. “
Choudhary added that by 2023, the company plans to increase its existing workforce by 100, bringing the total workforce to around 270. This perhaps puts data-focused software companies well-positioned to weather the current economic headwinds.
“Even in the current economic environment, investments in data continue to grow and our platform addresses the ongoing challenges data professionals are experiencing,” said Choudhary.
Acceldata’s Seres C round of funding was led by March Capital, with participation from Insight Partners, Industry Ventures, and Sanabil Investments.
