Today I’m pleased to announce the closing of Acceldata’s $35 million Series B. The round was led by Insight Venture Partners and includes new investor March Capital and existing investors Lightspeed, Sorenson Ventures, and Emergent Ventures.
I’m particularly happy to welcome George Mathew, Managing Director, Insight Venture Partners, to the Acceldata Board of Directors. George has a long and illustrious career in the data space and will be an invaluable advisor to Acceldata. Prior to joining Insight, George was the CEO of Kespry and had been COO and President of Alteryx, which he helped scale to IPO.
What I appreciate most about George is that he is an operator first. He has an almost supernatural ability to quickly assess a situation and understand where he can provide the most valuable support. That’s something I know we will all appreciate as we tackle the scaling challenges we will inevitably face as Acceldata grows to be the leader in the data observability space. Not to mention that Insight’s experience as a prolific SaaS-focused investor made our decision to partner with George and the Insight team a no-brainer.
Our plans are to put this new round of capital to good use. First, we’ll use it to extend the already impressive capabilities of the world’s first end-to-end Data Observability Cloud. Second, we’ll expand our sales and marketing beyond the eight countries where we already have customers, including global leaders like Oracle, PhonePe (Walmart), Pratt & Whitney, Demandbase, PubMatic, DBS, and True Corporation, among many others. Third, we will grow our team rapidly. Building an end-to-end Data Observability Cloud is no easy feat. It requires world-class talent working together to solve the hard problems faced by data engineers, data scientists, and data executives.
Which brings me to my final point. We coined the term “data observability” and created the category in 2018. I want to express my gratitude to all of our customers, colleagues, and investors who recognized that data observability is much more comprehensive than monitoring data quality and alerting alone. True data observability is about observing how data interoperates with technology to support business requirements and strategy.
Acceldata’s Data Observability Cloud is built to provide deep visibility into the data, compute performance, and data pipelines, or data supply chains, that orchestrate how data is transformed and moved. Our multidimensional data observability helps organizations support the data-driven transformation that enterprises require to survive and thrive in our modern economy.
Acceldata was founded three years ago to help customers maximize return on data investment. Our mission has never been clearer, and this new round of funding coupled with our industry-leading customer retention and logo growth validates our approach. Now it’s time to build the next stage of the company to support our customers’ quest to be truly data-driven businesses.
We look forward to working with you in this journey. Drop us a note if what we’re doing at Acceldata sounds exciting to you!