SINGAPORE, Oct. 10, 2023 — REPUBLIK, a global technology company building new ways for people to interact, proudly announces the successful conclusion of its $6 Million Seed funding round. The round saw participation from leading investors, including OKX Ventures, 6th Man Ventures, Arcane Ventures, CMS Holdings, Comma3 Ventures, Define Ventures, Enjin, FBG Capital, HTX Ventures, Mirana Ventures, Oracles Investment Group, Signum Capital, Sora Ventures, and UOB Venture Management. 

The capital raised is instrumental in building REPUBLIK’s platform and developing cutting-edge, web3 creator tools on the blockchain. Currently in beta across web app, iOS, and Android platforms, REPUBLIK has garnered substantial traction, empowering creators with new ways to interact and get rewarded for their contributions to the platform.

“For too long people have given their time, attention and creativity to existing platforms for almost nothing in return. REPUBLIK is going to change that by ensuring that the value of the community is fairly distributed. We’re excited to have investors who share in our vision and partners that are helping us build a true community-owned platform,” expressed Daniel He, REPUBLIK’s CEO.

Unlike traditional social platforms, where monetization options are fragmented and often come with high fees, REPUBLIK uses Web3 technologies to streamline the entire process, drastically reducing costs borne by Creators. This results in Creators keeping a significantly larger share of their earnings, but also enables a token-based reward system that allows everyone to earn for interacting with content, referring friends and supporting Creators.

While legacy platforms capitalize on user attention without direct compensation, REPUBLIK believes that online communities have great value, and that this value should be fairly distributed to the people who helped create it. As such, XP in the app represents how much value a user brings, while RPK will be a freely traded token representing the value of the community. The more XP a user has, the more RPK will be distributed to them.

The REPUBLIK App is available on Google Play Store, Apple App Store and on browsers as a web app at https://app.republik.gg/ 

About REPUBLIK

Singapore headquartered, with additional offices in Berlin and Los Angeles, Republik is on a mission to connect creators to their communities while rewarding everyone based on their interactions. With a rapidly growing community, REPUBLIK redefines the realm of online interaction.

Media Contact:
media@republik.io 

https://republik.gg
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SOURCE REPUBLIK

DENVER, Oct. 10, 2023 — Shakti WPL Ventures (www.shaktiwplventures.com), under the leadership of Sarah Koebel as Managing Partner, is on a mission to invest in revolutionary startups within the multi-billion dollar FemTech industry. Committed to empowering women’s health, Shakti Ventures is fully dedicated to investing in visionary founders, groundbreaking companies, and emerging technologies that better women’s health.

Koebel brings a wealth of experience to this venture from her deeply rooted background in the startup ecosystem. With a history of founding companies, successfully raising capital for multiple startups, and interviewing countless founders, Koebel boasts over a decade immersed in the world of venture capital. Her extensive track record includes playing a pivotal role in dozens of venture investments.

Reflecting on her journey, Koebel highlights the invaluable experience gained, enabling her to confidently spot innovation. When her focus shifted towards FemTech, she recognized an extraordinary opportunity often overlooked by traditional venture capitalists. Koebel shares, “The FemTech industry isn’t just an opportunity; it’s a necessity. It’s time we prioritize women’s health and encourage open conversations about their well-being, from start to finish. The technological advances in the past few years alone have been groundbreaking.” Shakti WPL Ventures is eager to invest in innovations that address health challenges uniquely or disproportionately faced by women, ensuring accessibility and empowering them to embrace these new products, services, and technologies throughout their health journey.

Today, Shakti WPL Ventures proudly announces its official launch into the FemTech sector. In a world where discussions about female health can be challenging, Shakti Ventures aims to make this dialogue more inclusive. Their mission is to empower women and men alike, encouraging them to take charge of their health and wellness through revolutionary means.

One of Shakti’s initial investments was Woo More Play, a female forward intimacy brand in the direct-to-consumer space on a mission to inspire everyone to feel confident and comfortable with themselves, as well as with their partner.

Koebel is excited to help foster an environment that encourages candid and open dialogues about women’s health and wellness.  She is eager to promote greater comfort and education in discussing all related topics, and ultimately help create products and services that address the needs of this underserved market. 

If you or someone you know is making groundbreaking strides in the FemTech space, please do not hesitate to reach out to Shakti WPL Ventures. For inquiries, please contact [email protected].

SOURCE Shakti WPL Ventures

SEATTLE, Oct. 10, 2023 — Optimize Health, one of the most trusted remote healthcare platforms in the U.S., today announced the completion of its latest financing, raising more than $18 million. The Series B round was led by Foundry and Escalate Capital Partners, with participation from Bonfire Ventures, Daher Capital, Navigate Ventures, Attento Capital, OpenView, 500 Global, SOSV, and Jumpstart Capital.

Seattle-based Optimize Health is revolutionizing the healthcare industry through its innovative technology and services to support remote care. The company leverages a leading remote patient monitoring and chronic care management software platform to improve patient outcomes, enhance clinical decision-making, and optimize operational efficiency for healthcare providers.

Optimize plans to use the additional capital to accelerate its market strategy, scale operations, expand its product portfolio, and fuel market expansion.

“We are thrilled to receive the support of well-regarded investors in securing this funding. It showcases our leading market position and highlights the power of our vision and the effect the team is making in the healthcare industry,” said Todd Haedrich, CEO of Optimize Health. “With these additional funds, we will further drive our efforts to bring transformative solutions to our healthcare partners in support of their patients.”

Since its inception, Optimize Health has been an industry leader and was named one of the fastest-growing private companies in America by Inc. 5000 in 2023. The company’s technology has gained recognition for its ability to assist physicians in preventing episodic events, providing personalized care plans, and using data among clinical teams to practice proactive medicine while empowering patients with insights into their own health metrics. Thousands of healthcare providers have leveraged Optimize Health’s software to enhance patient engagement, drive down costs, and help clinical teams create better outcomes for their patients.

About Optimize Health
Optimize Health is revolutionizing the healthcare industry through its innovative technology and patient + care team-centric approach. The company leverages Remote Patient Monitoring technology to improve patient outcomes, enhance clinical decision-making, and optimize operational efficiency for healthcare providers. Optimize Health’s mission is to transform how medical groups use technology and real-time data to treat patients outside the practice walls. As the leader in remote care solutions, the company helps physicians deliver proactive care that re-centers the patient and provider relationship and improves patients’ quality of life. For more information, visit www.optimize.health.

SOURCE Optimize Health

HOUSTON, Oct. 10, 2023 — North Hudson Resource Partners LP (“North Hudson” or the “Firm”), a Houston-based energy investment firm, announced its final closing of its fourth non-operated fund, North Hudson Production Partners II LP (“Production Partners II” or the “Fund”). The Fund closed at its hard cap with $232 million of equity commitments, inclusive of the general partner’s commitment.

Production Partners II will target individual acquisitions ranging from $3.0 to $75.0 million in active onshore U.S. Basins, including purchasing AFEs, “drill-ready” acreage, producing assets with upside, and minerals. The Fund, with other North Hudson affiliates, will also target larger strategic acquisitions with top-tier operators. The Fund will continue North Hudson’s partnership with Fortuna Operating, who has managed the acquisition and development of assets across multiple North Hudson non-operated funds.

Over the past five years, North Hudson’s non-operated funds have acquired over $650 million of assets and partnered with over 30 different operators on the development of their assets. North Hudson believes Production Partners II presents the opportunity for North Hudson to build upon the successes of its three prior non-operated funds and the Fund will seek to deploy a similar strategy.

“We are grateful for the continued support of our investors as we seek to deploy capital in a creative, low-risk approach to oil and gas investing” said Mark Bisso, Managing Partner. “We believe our significant asset base, which includes over 1,600 horizontal non-operated wells, in addition to our transaction history and network, have made us an effective partner for operators and working interest owners seeking to enhance their assets. We look forward to continuing and expanding those relationships.”

Kirkland & Ellis LLP served as legal counsel for Production Partners II.

About North Hudson

North Hudson Resource Partners LP is a Houston-based energy investment firm focused on opportunistic upstream and midstream energy investments in North America. With over $945 million of assets under management as of September 29, 2023, North Hudson’s private equity platforms own both non-operated and operated oil and gas assets. Its current portfolio includes interests in over 4,500 wells primarily located in the Permian Basin, DJ Basin, San Juan Basin, and Haynesville Shale.

SOURCE North Hudson Resource Partners

TORONTO, Oct. 10, 2023 — Scription, a dynamic player in the field of commercial maintenance, has announced the closing of $2.5 million in funding. This significant investment marks a pivotal moment in addressing a critical challenge within the industry: the prevalence of equipment breakdowns repaired at hourly labor rates, creating disincentives for efficient repairs as maintenance companies often benefit financially from equipment failures.

Scription simplifies the shift to subscription or outcome-based maintenance plans by tackling the key barrier risks: pricing and insurance. Their new program provides service companies with recurring aftermarket revenue and repairs exclusivity while the equipment owners get consistent costs, peace of mind, and experience far fewer equipment breakdowns.

Justin Villiers, CEO of Scription, said, “The vision of our programs is to align incentives and have everyone benefit from equipment uptime. We’ve assembled a team uniquely positioned to tackle this challenge by combining a balance of experience in field service, finance, insurance, and technology.”

Venture capital firm, Markd, exclusively focused on funding and partnering with transformative insurtech startups, led the funding round.

“Parker Beauchamp understood our vision from our first call. His fund and team have provided value beyond the capital, whose relationships allowed us to both establish ourselves in this industry and prepare for exponential growth.”

This funding round secures Scription’s pricing platform launch and the onboarding of anchor customer brands, providing a much-needed solution to industries transitioning from outdated break-fix contracts towards new innovative servicing models.

Markd’s Beauchamp added, “I’m so impressed by Justin, his team, and what they’ve created. They are extremely hard-working, kind, thorough, and have a great temperament, which no doubt helped them develop such a clever way to manage, protect, and serve enormous needs in an equally large market that creates wins for all involved.”

“Working with them the past year has been a pleasure. I look forward to helping them continue to thrive.”

Greenlight Re has also partnered with and is an investor in Scription, along with top funds such as Connetic Ventures, Sidedoor Ventures, Ank Partners, Hustle Fund, and Startup TNT.

About Scription
Scription is an Alberta-based Insurtech company that leverages disruptive technology and domain expertise to help companies launch new aftermarket service programs. Their platform uses historical maintenance data to intelligently price and offer insurance for maintenance contracts unique to individual pieces of equipment.

About Markd
Markd is a venture capital company focused on funding and partnering with transformative insurtechs. It pays homage to the insurance industry’s legacy while helping design its future. Markd’s mission is to power substantial work and continually inspire more ideas to prevent hurt and loss.

SOURCE Scription

The first direct-to-consumer customizable eyewear brand aims to use its latest round of funds to expand its U.S.-based lens lab and in-house manufacturing as well as grow its customer base around the world.

NEW YORK, Oct. 10, 2023 — Pair Eyewear, the first direct-to-consumer customizable eyewear brand that is completely reimagining the eyewear industry, announced today that it has raised approximately $75 million in Series C funding. The latest funding round was led by Prysm Capital, with returning investors New Enterprise Associates (NEA), Javelin Venture Partners and continued support from famed NFL player Christian McCaffrey, who also contributed to the Series B raise. To-date, the company has raised $145 million in funding.

Pair has seen revenues grow by 24x from 2020 to 2023 and is already on track to double its year-over-year revenues in 2023. The newest funds will be used to invest further in its automation technology, expand its U.S.-based lens lab to create best-in-class quality lenses, and continue to expand its product line. The company has ramped up its U.S. manufacturing and now produces all lenses at its facility in Irvine, California, where the brand employs close to 90 people. A second facility will open in the near future.

Pair Eyewear makes prescription glasses affordable at just $60, which is well below the $300 average price point. Pair customers can also change their eyewear designs as often as they change their personal styles, with customizable Top Frames starting at $25 each and new collections launching three times per month. Affordable customization encourages customers to buy multiple frames per year, in contrast with the legacy model of a single glasses purchase every three years, leading to superior unit economics and gross margins. 

“Nathan and I developed Pair with a unique premise of providing people globally with eyewear as dynamic as you are. We are beyond humbled by the love and support we’ve received from both Pair’s incredible customers and investors,” said Pair Eyewear Co-CEO and Co-Founder Sophia Edelstein. “We plan to capitalize on Pair’s brand power and innovations to continue growing with a goal of achieving household name status not only in the United States but around the world.”

Pair Eyewear is proud to keep investing in research and development on the heels of its fully integrated U.S. manufacturing facility. Since inception, the brand has developed a family of patents around customizable technology, further pushing innovation in an outdated industry. Additional patents are expected in 2024.

“At Prysm, we seek to partner with exceptional entrepreneurs and management teams who are building disruptive companies, and we have found that with Sophia, Nathan and the Pair team,” said Matt Roberts, Co-Founder and Partner at Prysm Capital. “With a differentiated and customizable product, an ecosystem of brand partnerships and a focus on community, Pair is loved by its customers. Further, the company’s continued innovation and investment in automation technology have reinforced their ability to execute on the growth opportunity ahead, and we look forward to partnering with the team on their expansion journey.”

“In addition to bringing a fresh look and business model to a legacy industry, Pair is leading its segment thanks to a vertically integrated supply chain and automated manufacturing processes. The factory has been a big factor in the company’s success,” said Rick Yang, Partner and Head of Technology at NEA. “They’re not just bringing a greater variety of better products to people. They’re doing it in a far more efficient and cost-effective way, which translates to more affordability and access for customers.”

Due to the highly interactive nature of Pair’s products, the Base Frame and Top Frame duo have become popular on social media, especially TikTok, where the brand has garnered a cult-like following, obtaining hundreds of millions of views with its hashtag #WearPair. TikTok alone drives over 25% of the brand’s total sales and millions in revenue

About Pair Eyewear:
Pair Eyewear, the first direct-to-consumer customizable eyewear brand reimagining the consumer experience for individuals with glasses, allows adults and children alike to quickly and easily customize the look of their glasses anytime, anywhere. Pair Eyewear provides the world’s first patented and high-quality, affordable glasses with an engaging digital experience for just $60 per pair, including prescription lenses. Pair Eyewear was the first company to invent fashionable switchable top frames that attach to a base pair of glasses and is recognized for its technology to bring affordable personalization and creativity to the market. The brand’s large and expanding selection of 1,000-plus customizable Top Frames includes limited edition monthly drops and licensed designs from brands such as DC, NHL, MLB, Marvel, Harry Potter, Sesame Street, The NBA, Van Gogh, Frida Kahlo, and more for optical glasses, sunglasses and blue light glasses, all available in both prescription and non-prescription models. For more information please visit www.paireyewear.com or @PairEyewear on Instagram and TikTok.

About Prysm Capital
Prysm Capital is a growth equity firm focused on partnering with founders and management teams who are disrupting industries and building category-leading companies. With offices in New York, Princeton and San Francisco, Prysm acts as a flexible source of growth capital for companies in the technology and consumer sectors. For more information, visit www.prysmcapital.com.

About NEA
New Enterprise Associates, Inc. (NEA) is a global venture capital firm focused on helping entrepreneurs build transformational businesses across multiple stages, sectors and geographies. Founded in 1977, NEA has over $25 billion in assets under management as of March 31, 2023, and invests in technology and healthcare companies at all stages in a company’s lifecycle, from seed stage through IPO. The firm’s long track record of investing includes more than 270 portfolio company IPOs and more than 450 mergers and acquisitions. For more information, please visit www.nea.com.

About Javelin Venture Partners
Founded in 2008, Javelin Venture Partners is a venture capital firm based in San Francisco, managed by former entrepreneurs who have first-hand experience developing companies from concept to thriving enterprise. Javelin invests in early-stage technology companies with large addressable markets and strong competitive advantages. The firm is an active investor with a long-term outlook, and is helping the next generation of founders build world-changing companies. Notable portfolio companies include Thumbtack, MasterClass, Niantic Labs, SmartAsset, and Carbon Health, amongst others.

Media Contact:
WLDFLWR PR
Catherine Cuello-Fuente
[email protected] 

SOURCE Pair Eyewear

The funding will be used to enhance the company’s asset-agnostic autonomous inspection capabilities, modernizing the utilities industry via real-time asset performance management

GRAND FORKS, N.D., Oct. 10, 2023 — Thread, the leader of enterprise-scale autonomous data collection for delivering precise inspection insights, today announced that it closed a Series A funding round in the amount of $15M. The round was led by Badlands Capital with notable participation from an early utility partner of Thread’s, Minnkota Power Cooperative, Generational Partners, Rosecliff Ventures, Excell Partners, Homegrown Capital and Kevin O’Leary’s Wonder Fund North Dakota. This new round of funding accelerates Thread’s horizontal expansion across asset types and enables the company to continue developing its UNITI platform, which is positioned to become the first practical turnkey Asset Performance Management (APM) platform for the energy and utilities industry.

Since its inception, Thread has proven its ability to automate data capture of utility assets via robotic inspection across wind, oil and gas, and now linear (transmission and distribution) at scale. The company works across the fleets of several Fortune 500 customers including Xcel Energy and with major asset protection companies such as MISTRAS Group.

“We recognize the challenges our customers face in today’s dynamic utility sector,” said Josh Riedy, Founder and CEO of Thread. “The aging of the world’s critical infrastructure, disconnected workflow integrations between traditional software and shiny object vendors, and a depleting skilled workforce in Operations & Maintenance (O&M) continue to be major issues in data collection, which makes it increasingly difficult for stakeholders to make data-driven decisions. This Series A funding allows us to better service our customer’s needs by bridging the gap between legacy one-off inspections and real-time asset performance data, bringing the industry into the digital age. We are enabling our customers to cut inspection workstreams from days into hours, using UNITI as a single point for collaborative decision-making and O&M spend prioritization.”

The $1T Bipartisan Infrastructure Law for new energy infrastructure has elevated industry demands for a more robust way to monitor the health of its most critical assets. “UNITI by Thread is cementing its position as the industry-standard,” said Blaine Crissman, General Partner at Badlands Capital. “Thread empowers its customers to make more data-driven decisions around inspection and maintenance through digital representation and autonomous upkeep of their assets.”

“For nearly a decade, utility operators have been disappointed by unkept promises of low-cost, on-demand drone inspections,” said Asher Kraut, Partner at Generational Partners. “Thread has not only fully automated the inspection process, but they’ve also built a turnkey platform that empowers its customers to make Operations and Maintenance decisions based on real-time data across their entire fleet of assets. Thread is a prime example of an emerging business that is leveraging well-understood technologies once considered ‘deep tech’ to solve today’s most crucial customer challenges. What’s more, they’re achieving this in a safety-critical industrial environment that will define the next generation of founders and investors.”

Thread also announced the expansion of its relationship with Xcel Energy, one of its earliest customers and co-development collaborators. This work will advance the development of Thread’s flagship product, UNITI, to ensure its viability for deployment at scale across all asset types in the utility industry globally. This relationship, which is the first-of-its-kind for Xcel Energy, puts both organizations at the forefront of transforming the way energy and utility operators utilize automation, robotics, and business intelligence to drive asset performance.

As presented at a recent Utilities Imagery and Inspection Consortium Conference of top Utility leaders, the value of transforming Utility asset health was of prime concern. 

“When Xcel Energy began automated wind inspections in-house, we changed the dynamic of how we work on a day-to-day basis, as well as how we manage our data and assets,” said Thomas Stegge UAS Program Manager, Xcel Energy. “What we have learned from this transition is flowing into changing asset management strategies across the entire company.”

About Thread
Thread, formerly Airtonomy, is the leading data solution for enterprises looking to streamline and transform critical infrastructure lifecycle management. Leveraging its proprietary, data-driven, and robust platform technology, Thread embeds unmanned aerial systems and robotics with a suite of applications to automate enterprise inspection workflows and to create the first inspection-based digital asset catalog. Digital asset information becomes far more valuable to many stakeholders within the enterprise while also being easier and more efficient to maintain up-to-date information. For more information, visit thread.one.

About Xcel Energy
Xcel Energy (NASDAQ: XEL) provides the energy that powers millions of homes and businesses across eight Western and Midwestern states. Headquartered in Minneapolis, the company is an industry leader in responsibly reducing carbon emissions and producing and delivering clean energy solutions from a variety of renewable sources at competitive prices. For more information, visit xcelenergy.com or follow us on X, formerly known as Twitter, and Facebook.   

Media Contact
Paul Bilardo
[email protected]

SOURCE Thread

ENGLEWOOD, Colo., Oct. 10, 2023 — Jogan Inc., a Denver-based holding company, acquired Echo Mountain, a ski area located near Evergreen and Idaho Springs, CO on September 18th, 2023, turning the page on a new chapter at the storied ski area located just 36 miles or 50 minutes from downtown Denver.

Jogan, Inc. has been rapidly expanding since being founded by entrepreneur Dan Dietrich in 2021. When Dietrich’s passion for skiing and innovative approach to business brought him the opportunity to acquire a Colorado ski area, he described it as “a dream come true.”

“Growing up skiing and working at Stevens Pass in Washington gave me the opportunity to not only develop my own love for skiing, but it gave me an inside view at how ski areas work to deliver the joy that so many people get from snow sports,” said Dan Dietrich. He added, “My fascination with how ski areas operate and passion for the industry has grown tremendously over the years, so I’m thrilled at the opportunity to work with the experienced team at Echo and empower them to keep building on its current foundation.”

Echo Mountain has evolved over the years, but its near-universally recognized and still untapped potential carries it forward. In recent years, Echo Mountain has grown to become Denver’s Closest and Most Affordable ski, snowboard and tubing area, offering a Colorado snow sports experience requiring less time and money than neighboring industry-giants. Those efforts have attracted a unique customer base that Dietrich feels is essential to the success of the industry’s future.

“It’s no secret that the ski industry has been struggling to diversify its customer base, and we feel like Echo has really tapped into something special. We believe we can not only help create more skiers and snowboarders, but we can also continue to bring in more and different groups of people than you’re used to seeing at other resorts,” said Dan Dietrich.

Recently, Echo has been working to capitalize on its summer season potential through weddings, events, and concerts. Seeing this summer’s success, the Jogan team believes with strategic investments and partnerships, Echo could quickly become one of Denver’s most desirable outdoor mountain venues.

“We have a lot of great ideas, some of which we’ll be sharing more about over the coming weeks and months, and yet we recognize that there’s no shortage of challenges ahead of us,” said Dietrich; “but we believe we have a vision for Echo to help fully realize its potential while continuing to offer a one-of-a-kind experience for guests, whether it’s just for a day of skiing or the biggest day of their life.”

About Jogan Inc.
Jogan Inc. is a venture capital organization founded by entrepreneur Dan Dietrich. Over the last two years, Jogan has launched, acquired, or invested in over 30 companies aiming to revolutionize a variety of industries through technological innovation, comprehensive solutions, and a relationships-based approach with a mission to bring communities closer together.

For more information about Jogan, please visit http://www.joganinc.com.

For More Information:
[email protected] 

Media Contact:
Leonor Lucero
303-720-1878
[email protected] 

SOURCE Jogan Inc.

$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 — 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