Acceldata, a data observability platform, has raised $35 million (Rs 260 crore) in Series B funding led by private equity firm Insight Partners.
This round also saw new investor March Capital and existing investors Lightspeed, Sorenson Ventures, and Emergent Ventures.
Acceldata said it will use a third of the funds in R&D and building products in India. It will also expand its engineering team in Bengaluru and plans to increase the headcount from 90 to 220 by the end of next year.
"Our data observability cloud is built to help businesses simplify complex data operations, expand data usage, and meet growing business requirements while reducing costs and increasing data engineering productivity," Rohit Choudhary, Acceldata's CEO and co-founder, said.
Founded in 2018, Acceldata is based in Palo Alto and Bengaluru.
In October 2020, it raised its Series A round led by Sorenson Ventures.
The company claims to have tripled its revenue from 2019 to 2020.
The firm has Oracle, PubMatic, PhonePe (Walmart), Pratt & Whitney, and DBS, among others as customers. Acceldata has customers in eight countries and more than 100 employees across the world. It competes with startups like Cribl, Monte Carlo, and Bigeye.
