Acceldata Receives $10M in Funding to Continue its Investment in Data Observability
Oct 25, 2023
Acceldata, provider of enterprise data observability, announced the company has received a $10 million Series C funding addition from new investor Prosperity7 Ventures to fuel its go-to-market expansion. The investment brings the company’s total capital raised to over $100 million as it reports significant corporate momentum fueled by customer growth, product innovation, global expansion, and the acquisition of Bewgle, according to the company. In addition, the company has expanded its executive leadership with the appointment of Mike McQuaid as chief revenue officer, Mahesh Kumar as chief marketing officer, and Ramon Chen as chief product officer. “We have invested heavily in our data observability platform over the last five years and the world’s largest enterprises, including many Fortune 500 companies, are using our products in the most complex data operations to operate business-critical data products at petabyte scale,” said Rohit Choudhary, CEO and co-founder of Acceldata. “This funding by a premier investor, Prosperity7, the addition of a world-class executive team, and AI-led innovation will propel our mission of shaping the rapidly expanding data observability category.”
To support the needs of its growing customer base, Acceldata has expanded its global presence into Canada with the opening of a new office in the greater Toronto metropolitan area. The office brings the company’s footprint to three locations across North America and Asia with employees worldwide. The Toronto location has more than doubled its employee headcount over the last four months to support the company’s customers, with plans to continue to expand the team over the coming months. Last month, Acceldata also acquired Bewgle, a cutting-edge AI platform, to expand its best-in-class enterprise data observability capabilities into AI and large language models (LLMs). Led by Bewgle founders Ganga Kumar and Shan Shah, both former Google employees, the AI team will expand the company’s product offerings to ensure reliable, high quality data pipelines across cloud, hybrid, and on-premises environments. For more information about this news, visit www.acceldata.io .

Acceldata Receives $10M in Funding to Continue its Investment in Data Observability

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$10 million investment from Prosperity7 Ventures brings Series C funding round to $60 million as company reports record year-to-date revenue growth
CAMPBELL, Calif., October 10, 2023-- Acceldata, the market leader in enterprise data observability, today announced the company has achieved 150% year-over-year Fortune 500 logo growth and a $10 million Series C funding addition from new investor Prosperity7 Ventures to fuel its go-to-market expansion. The investment brings the company's total capital raised to over $100 million as it reports significant corporate momentum fueled by customer growth, product innovation, global expansion, and the acquisition of Bewgle. In addition, the company has expanded its executive leadership with the appointment of Mike McQuaid as chief revenue officer, Mahesh Kumar as chief marketing officer, and Ramon Chen as chief product officer. "We have invested heavily in our data observability platform over the last five years and the world's largest enterprises, including many Fortune 500 companies, are using our products in the most complex data operations to operate business-critical data products at petabyte scale," said Rohit Choudhary, CEO and co-founder of Acceldata. "This funding by a premier investor, Prosperity7, the addition of a world-class executive team, and AI-led innovation will propel our mission of shaping the rapidly expanding data observability category." Company Achieves 150% Year-Over-Year Fortune 500 Logo Growth and Expands Global Presence
Acceldata continues to see rapid customer growth, reporting 150% year-over-year Fortune 500 logo growth as more leading organizations recognize the value of its enterprise data observability platform to build best-in-class data products. To support the needs of its growing customer base, Acceldata has expanded its global presence into Canada with the opening of a new office in the greater Toronto metropolitan area. The office brings the company's footprint to three locations across North America and Asia with employees worldwide. The Toronto location has more than doubled its employee headcount over the last four months to support the company's customers, with plans to continue to expand the team over the coming months. Series C Funding Addition to Accelerate Go-To-Market
In February of this year, Acceldata announced a $50 million Series C funding round led by March Capital, with additional investment from Sanabil Investments, Industry Ventures, and Insight Partners to expand its product innovation and leadership in the data observability market. The $10 million addition from Prosperity7 Ventures brings the total funding round to $60 million, and will enable the company to accelerate go-to-market efforts and continue to deliver innovative observability solutions that address the rapidly expanding category. "As enterprises across the globe are doubling down on initiatives to bring AI and large language models into production, access to trusted, reliable data becomes even more imperative," said Abhishek Shukla, senior investment director at Prosperity7 Ventures. "Acceldata is setting the new standard for data management with its innovative platform and world-class team, and it's a privilege to partner to deliver AI-driven solutions and drive the future of enterprise data observability market." Key Executive Appointments Accelerate & Scale Go-To-Market Execution
As the company continues to expand its global operations and market leadership, Acceldata has extended its executive staff with the appointment of seasoned technology executives, including industry veteran Mike McQuaid who has joined Acceldata as chief revenue officer (CRO) to lead the company's sales strategy. McQuaid has over 20 years of experience at organizations including Hitachi Vantara, BusinessObjects (acquired by SAP), and Birst (acquired by Infor) with a proven track record of success managing large, field-sales organizations. The company has also appointed Mahesh Kumar as chief marketing officer (CMO) to drive global marketing strategy. Kumar joins with over 30 years of experience driving category leadership across technology markets at companies including Gitlab and Propelo (acquired by Harness). Additionally, Ramon Chen has joined as chief product officer (CPO) with over 30 years of experience developing and executing product strategy for leading cloud platforms, SaaS applications, and infrastructure at companies including ActivTrak and Reltio. Last month, Acceldata also acquired Bewgle, a cutting-edge AI platform, to expand its best-in-class enterprise data observability capabilities into AI and large language models (LLMs). Led by Bewgle founders Ganga Kumar and Shan Shah, both former Google employees, the AI team will expand the company's product offerings to ensure reliable, high quality data pipelines across cloud, hybrid, and on-premises environments. About Acceldata
Founded in 2018, Campbell, CA-based Acceldata has developed the world's first enterprise data observability platform to help enterprises build and operate great data products. Acceldata's solutions have been embraced by global customers, such as Dun & Bradstreet, Oracle, PubMatic, PhonePe (Walmart), HCSC, and many more. Acceldata investors include Insight Partners, March Capital, Industry Ventures, Lightspeed, Sorenson Ventures, Sanabil, and Emergent Ventures. Contact us to learn about the benefits of data observability. About Prosperity7 Ventures
Prosperity7 Ventures is the diversified growth fund of Aramco Ventures, a subsidiary of Aramco, the world's leading integrated energy and chemicals company. The fund's name derives from "Prosperity Well," the seventh oil well drilled in Saudi Arabia and the first to strike commercial oil, paving the way to prosperity. Bringing forward this pioneering history, Prosperity7 invests globally with a long-term view in breakthrough technologies and transformational business models that bring prosperity and positive impacts on a vast scale. Official website: https://www.prosperity7vc.com/

Acceldata Announces Significant Corporate Momentum Driven by Record Revenue and Customer Growth, Series C Funding Addition, and ...

Acceldata – the market leader in enterprise data observability – recently announced the company has achieved 100% year-over-year revenue growth and a $10 million Series C extension funding round from new investor Prosperity7 Ventures to drive its go-to-market expansion. This funding round brings the company’s total capital raised to over $100 million as it reports significant corporate momentum fueled by customer growth, product innovation, global expansion, and the acquisition of Bewgle. Plus, the company has expanded its executive leadership by appointing Mike McQuaid as chief revenue officer, Mahesh Kumar as chief marketing officer, and Ramon Chen as chief product officer. Acceldata continues seeing rapid customer growth, reporting 100% year-over-year revenue growth as more leading organizations recognize the value of its enterprise data observability platform to build best-in-class data products. And to support the needs of its growing customer base, Acceldata expanded its global presence into Canada by opening a new office in Kitchener, Ontario. The office brings the company’s footprint to three locations across North America and Asia, with 249 employees worldwide. The Ontario location more than doubled its employee headcount over the last four months to support the company’s customers, with plans to expand the team over the coming months. In February of this year, Acceldata announced a $50 million Series C round led by March Capital, with additional investment from Sanabil Investments, Industry Ventures, and Insight Partners to expand its product innovation and leadership in the data observability market. This $10 million addition from Prosperity7 Ventures brings the total funding round to $60 million. It will enable the company to accelerate go-to-market efforts and deliver innovative observability solutions that address the rapidly expanding category. Industry veteran Mike McQuaid joined Acceldata as chief revenue officer (CRO) to lead the company’s go-to-market strategy. McQuaid has over 20 years of experience at organizations, including Hitachi Vantara, SAP, and CognitiveScale, with a proven track record of success managing large field-sales organizations. The company has appointed Mahesh Kumar as chief marketing officer (CMO) to drive global marketing strategy. Kumar joins with over 30 years of experience driving category leadership across technology markets at companies including Gitlab and Propelo (acquired by Harness). Ramon Chen has joined as chief product officer (CPO) with over 30 years of experience developing and executing product strategy for leading cloud platforms, SaaS applications, and infrastructure at companies including ActivTrak and Reltio. Last month, Acceldata acquired Bewgle to expand its best-in-class enterprise data observability capabilities into AI and large language models (LLMs). Led by Bewgle founders Ganga Kumar and Shan Shah (both former Google employees), the AI team will expand the company’s product offerings to ensure reliable and high-quality data pipelines across cloud, hybrid, and on-premises environments. KEY QUOTE:
“On the heels of our five year anniversary, our product has achieved a level of capability that it is routinely utilized within the world’s most complex and intricate enterprise data operations, where every day it processes business-critical data on a massive scale. As a pioneer and leader of the Enterprise Data Observability category, this funding by a premier investor Prosperity7, and addition of a world-class executive team, will propel our momentum further as we extend our best-in-class product offerings into new markets, shaping the future of the swiftly expanding category through AI-driven innovation.”
Rohit Choudhary, CEO and co-founder of Acceldata

Acceldata: $10 Million Series C Funding Extension Raised

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$10 million investment from Prosperity7 Ventures brings Series C funding round to $60 million as company reports record year-to-date revenue growth
CAMPBELL, Calif., Oct. 10, 2023 /PRNewswire/ --  Acceldata , the market leader in enterprise data observability, today announced the company has achieved 150% year-over-year Fortune 500 logo growth and a $10 million Series C funding addition from new investor Prosperity7 Ventures to fuel its go-to-market expansion. The investment brings the company's total capital raised to over $100 million as it reports significant corporate momentum fueled by customer growth, product innovation, global expansion, and the acquisition of Bewgle . In addition, the company has expanded its executive leadership with the appointment of Mike McQuaid as chief revenue officer, Mahesh Kumar as chief marketing officer, and Ramon Chen as chief product officer. "We have invested heavily in our data observability platform over the last five years and the world's largest enterprises, including many Fortune 500 companies, are using our products in the most complex data operations to operate business-critical data products at petabyte scale," said Rohit Choudhary, CEO and co-founder of Acceldata. "This funding by a premier investor, Prosperity7, the addition of a world-class executive team, and AI-led innovation will propel our mission of shaping the rapidly expanding data observability category." Company Achieves 150% Year-Over-Year Fortune 500 Logo Growth and Expands Global Presence
Acceldata continues to see rapid customer growth, reporting 150% year-over-year Fortune 500 logo growth as more leading organizations recognize the value of its enterprise data observability platform to build best-in-class data products. To support the needs of its growing customer base, Acceldata has expanded its global presence into Canada with the opening of a new office in the greater Toronto metropolitan area. The office brings the company's footprint to three locations across North America and Asia with employees worldwide. The Toronto location has more than doubled its employee headcount over the last four months to support the company's customers, with plans to continue to expand the team over the coming months. Series C Funding Addition to Accelerate Go-To-Market
In February of this year, Acceldata announced a $50 million Series C funding round led by March Capital , with additional investment from Sanabil Investments , Industry Ventures , and Insight Partners to expand its product innovation and leadership in the data observability market. The $10 million addition from Prosperity7 Ventures brings the total funding round to $60 million, and will enable the company to accelerate go-to-market efforts and continue to deliver innovative observability solutions that address the rapidly expanding category. "As enterprises across the globe are doubling down on initiatives to bring AI and large language models into production, access to trusted, reliable data becomes even more imperative," said Abhishek Shukla, senior investment director at Prosperity7 Ventures. "Acceldata is setting the new standard for data management with its innovative platform and world-class team, and it's a privilege to partner to deliver AI-driven solutions and drive the future of enterprise data observability market." Key Executive Appointments Accelerate & Scale Go-To-Market Execution
As the company continues to expand its global operations and market leadership, Acceldata has extended its executive staff with the appointment of seasoned technology executives, including industry veteran Mike McQuaid who has joined Acceldata as chief revenue officer (CRO) to lead the company's sales strategy. McQuaid has over 20 years of experience at organizations including Hitachi Vantara, BusinessObjects (acquired by SAP), and Birst (acquired by Infor) with a proven track record of success managing large, field-sales organizations. The company has also appointed Mahesh Kumar as chief marketing officer (CMO) to drive global marketing strategy. Kumar joins with over 30 years of experience driving category leadership across technology markets at companies including Gitlab and Propelo (acquired by Harness). Additionally, Ramon Chen has joined as chief product officer (CPO) with over 30 years of experience developing and executing product strategy for leading cloud platforms, SaaS applications, and infrastructure at companies including ActivTrak and Reltio. Last month, Acceldata also acquired Bewgle , a cutting-edge AI platform, to expand its best-in-class enterprise data observability capabilities into AI and large language models (LLMs). Led by Bewgle founders Ganga Kumar and Shan Shah, both former Google employees, the AI team will expand the company's product offerings to ensure reliable, high quality data pipelines across cloud, hybrid, and on-premises environments. Helpful Links
About Acceldata
Founded in 2018, Campbell, CA-based Acceldata has developed the world's first enterprise data observability platform to help enterprises build and operate great data products. Acceldata's solutions have been embraced by global customers, such as Dun & Bradstreet, Oracle, PubMatic, PhonePe (Walmart), HCSC, and many more. Acceldata investors include Insight Partners, March Capital, Industry Ventures, Lightspeed, Sorenson Ventures, Sanabil, and Emergent Ventures. Contact us to learn about the benefits of data observability. About Prosperity7 Ventures
Prosperity7 Ventures is the diversified growth fund of Aramco Ventures, a subsidiary of Aramco, the world's leading integrated energy and chemicals company. The fund's name derives from "Prosperity Well," the seventh oil well drilled in Saudi Arabia and the first to strike commercial oil, paving the way to prosperity. Bringing forward this pioneering history, Prosperity7 invests globally with a long-term view in breakthrough technologies and transformational business models that bring prosperity and positive impacts on a vast scale. Official website: https://www.prosperity7vc.com/
SOURCE Acceldata

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Acceldata Announces Significant Corporate Momentum Driven by Record Revenue and Customer Growth, Series C Funding Addit...

Acceldata, the market leader in enterprise data observability, today announced the company has achieved 150% year-over-year Fortune 500 logo growth and a $10 million Series C funding addition from new investor Prosperity7 Ventures to fuel its go-to-market expansion. The investment brings the company's total capital raised to over $100 million as it reports significant corporate momentum fueled by customer growth, product innovation, global expansion, and the acquisition of Bewgle. In addition, the company has expanded its executive leadership with the appointment of Mike McQuaid as chief revenue officer, Mahesh Kumar as chief marketing officer, and Ramon Chen as chief product officer. Founded in 2018, Campbell, CA-based Acceldata has developed the world's first enterprise data observability platform to help enterprises build and operate great data products. Acceldata's solutions have been embraced by global customers, such as Dun & Bradstreet, Oracle, PubMatic, PhonePe (Walmart), HCSC, and many more. (c)2011-2020 by Massinvestor, Inc.  For contact info, please check out our about page.

Acceldata Nabs $10M Series C Financing

Prosperity7 Ventures is a venture capital firm focused on supporting the development of next-generation technologies and business models across various sectors. The company invests globally in startups, providing them with funding and connections to scale quickly, enter new and emerging markets, and attain global reach. It primarily serves sectors such as medtech, fintech, B2B SaaS, and others. It was founded in 2019 and is based in Dhahran, Saudi Arabia.

Date	10/10/2023
Round	Series C - II
Company	Acceldata
Amount	$10M
New?	Yes
Co-Investors
Sources	4

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