Is Data Observability the Next Disruptive Tech in Enterprises? This Startup Says YesAcceldata synthesizes signals from multiple layers to provide insights into compute, pipelines, reliability, users and spend for the modern data stack
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Bengaluru-based Acceldata was founded in 2018 to help enterprises have a modern data solution to monitor and manage their data pipelines across complex interconnected data systems, thereby eliminating operational blind spots and reducing spend.
"Time and again it was the strategic data initiatives that failed, which wasted tens or even hundreds of millions of dollars. The blame always seemed to fall on outdated tools that simply weren't up to the task of corralling vast amounts of data and transforming signals into actionable intelligence. As data workloads and data-reliant processes continue to grow, the data gap becomes a real competitive threat," says Ashwin Rajeeva, co-founder and CTO, Acceldata.
According to him, the startup had a clear strategy since the beginning to monetize its products with the right product market fit. Today, Acceldata's data observability platform offers innovative data solutions to customers such as PhonePe, Dun & Bradstreet, Oracle and more. The company has recently raised $50 million in a Series C funding round that was led by March Capital and participated in by other investors such as Sanabil Investments, Industry Ventures and Insight Partners. Plans to utilise the funds include expanding the startup's leadership as well as increasing its footprint in Forbes' Global 2000 enterprise, a list that measures the world's largest public companies in terms of four equally weighted metrics: assets, market value, sales and profits.
Enterprise data volume and system complexity is increasing exponentially while data engineering teams are understaffed and hard to scale, contends Rajeeva. "Operational complexity, failing data pipelines, unreliable datasets, and rising data management costs inhibit data return on investment (ROI) and cause costly compliance failures for enterprises across all industries. In a recent survey conducted by Censuswide, 80 percent of enterprise data leaders expressed their plans to prioritize investments in systems to provide visibility, and 85 percent plan to deploy data observability in 2023," he says.
Unlike other siloed data technologies that only address one aspect of the data problem, the Acceldata Data Observability platform synthesizes signals from multiple layers and is the only multi-layered solution that provides insights into compute, pipelines, reliability, users and spend for the modern data stack, claims Rajeeva.
With data observability, management and analytics emerging as important areas of tech advancement, how do entrepreneurs and engineers engage with them in a meaningful way? "You must understand the entire data ecosystem, engineering, modern software skills and customer pain points and have the ability to communicate and problem-solve effectively," he says, adding, "Prototype fast, learn from feedback, iterate until you get to a minimum viable product."
