Acceldata, a data observability platform, raises $50 million in funding.
Acceldata, the company behind a data observability platform used by multinational enterprises, including Oracle and Verisk, today announced it has raised $50 million in a Series C round of funding. Founded in 2018, San Jose–based Acceldata is one of a growing number of companies setting out to help organizations understand the health of their data and identify any problems with data that may be spread across multiple clouds, applications, and systems.
Data Observability: A Growing Field
With prebuilt integrations for the likes of Snowflake, Databricks, BigQuery, Amazon Redshift, and more, Acceldata can be used to assess the quality of a company’s data in transit or at rest, while also giving insights into the infrastructure underpinning their data pipelines. "To build trust in data, the flow of information from multiple sources needs to be streamlined and efficiently managed through data pipelines," Acceldata CEO and co-founder Rohit Choudhary explained to TechCrunch. "This not only supports analytics initiatives but also maximizes business value. Moreover, data observability ensures that the data used for analytical and governance purposes is suitable and meets its intended goals."
Rise of Observability
Despite all the plummeting valuations, down-rounds, layoffs impacting the tech world, there has been a growing sense over the past year that the observability vertical could be just a little recession-proof. By way of example, the likes of Observe, Monte Carlo, Cribl, Manta, and Coralogix all raised substantial amounts of funding last year, while in the five short weeks of 2023 so far we’ve already seen two fledgling observability startups in the form of Metaplane and Chaos Genius announce $8.4 million and $3.3 million seed funding rounds, respectively.
It’s worth noting that not all "observability" companies are created equally, with some focusing exclusively on more traditional application observability to help engineers collect metrics of their software performance, while others do address data observability but with a focus on one or two specific layers, such as ‘quality’ or ‘infrastructure.’ Acceldata says it differentiates through covering a full gamut of layers across data infrastructure, quality, pipelines, and users. This, it says, supports more use cases, including "spend intelligence," which allows its customers to manage and predict their data processing costs, as well as giving them insights on data reliability — so-called bad data can cost companies a lot of money in computing costs.
Acceldata’s Plans for the Future
Prior to now, Acceldata had raised $20 million. With this latest funding round, the company plans to continue to invest in its platform and expand its sales and marketing efforts. "We’re excited to have such strong support from our investors," said Choudhary. "This funding will enable us to further accelerate our growth and help more organizations achieve their data-related goals."
The Importance of Data Observability
Data observability is a critical component of any organization’s data strategy. It involves monitoring and understanding the health of an organization’s data, including its quality, accuracy, and completeness. This information can then be used to inform business decisions, improve operations, and reduce costs.
Acceldata’s platform provides a comprehensive view of an organization’s data, allowing them to identify potential issues before they become major problems. The platform also includes features such as real-time monitoring, anomaly detection, and alerts, which enable organizations to quickly respond to any issues that arise.
The Future of Observability
As the observability market continues to grow, it will be interesting to see how Acceldata and other companies in the space continue to innovate and evolve. With the increasing amount of data being generated by organizations, the need for robust data management and monitoring solutions has never been more pressing.
Acceldata’s success is a testament to the importance of data observability and the growing demand for solutions that can help organizations manage their data effectively. As the company continues to grow and expand its offerings, it will be exciting to see how they continue to shape the future of the industry.
About Acceldata
Acceldata is a leading provider of data observability platforms. Founded in 2018, the company has quickly become a trusted partner for organizations looking to improve their data management and monitoring capabilities. With its comprehensive platform and experienced team, Acceldata is well-positioned to continue to lead the way in the rapidly growing observability market.
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