Acceldata Raises $10 Million in Series C Extension, Bringing Total Funding to Over $100 Million
Data observability startup Acceldata has secured an additional $10 million in an extension to its Series C round, bringing its total funding to over $100 million. The funding was provided by new investor Prosperty7 Ventures and will be allocated towards go-to-market efforts, R&D in Canada, mergers and acquisitions, and geographic expansion. Acceldata focuses on real-time observability solutions to help companies manage their data across hybrid cloud infrastructures.
Key Points:
- Acceldata, a data observability startup, raises $10 million in an extension to its Series C round, bringing total funding to over $100 million.
- New investor Prosperty7 Ventures is the sole contributor to this tranche, and the funds will support various initiatives including go-to-market efforts and geographic expansion.
- Data observability tools are in high demand, allowing companies to understand, diagnose, and manage data health across IT tools throughout the data lifecycle.
- Acceldata’s platform monitors the entire data supply chain, including data sources, enrichment, and consumption, providing a comprehensive observability solution.
Analysis: Acceldata’s successful funding round and focus on data observability solutions demonstrate the increasing importance of managing data health in complex data systems. The startup’s platform, which monitors the complete data supply chain, addresses the operational challenges faced by data leaders, such as performance consistency, reliability, cost, and user experience. This investment will enable Acceldata to further develop its platform, expand its offerings, and grow its customer base, positioning the company as a key player in the data observability market. The acquisition of AI platform Bewgle and plans for team expansion further strengthen Acceldata’s position in this competitive space.
