Acceldata, a cloud-based enterprise data observability platform, raised $35 million in a Series B investment led by global venture capital and private equity company Insight Partners, with March Capital and current investors Lightspeed, Sorenson Ventures, and Emergent Ventures also participating.
One-third of the money will go to research and development and the creation of cutting-edge data observability products, according to the company.
The startup’s data observability cloud, founded by Rohit Choudhary, Ashwin Rajeeva, Gaurav Nagar, and Raghu Mitra Kandikonda in 2018, helps businesses simplify complicated data processes, boost data utilisation, and satisfy expanding business requirements.
Commenting on the development, Co-founder and CEO Rohit Mitra said, “Most companies don’t have the expertise and resources to effectively manage their enterprise data systems, and this investment from leading enterprise software VCs validates our vision.”
“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, Co-founder and CTO, Acceldata.