Day: September 28, 2021

SAN JOSE, Calif., Sept. 28, 2021 /PRNewswire/ — Acceldata, the world’s first enterprise Data Observability Cloud, has raised $35 million to further expand its capabilities across data quality, data pipeline monitoring, and system infrastructure to enable enterprises to achieve operational excellence, innovation agility, and higher returns on their data initiatives.  This round was led by global venture capital and private equity firm Insight Partners with participation from new investor March Capital and existing investors Lightspeed, Sorenson Ventures, and Emergent Ventures.

Acceldata’s products offer observability across data quality, data pipelines and system infrastructure, in real-time, using sophisticated AI and machine learning algorithms. This helps Acceldata customers, like PhonePe (Walmart), Oracle, True Corporation, and PubMatic eliminate data complexity, scale data usage, and generate improved business outcomes. Although large organizations invest heavily in data and the related infrastructure to acquire, move, store, and process data, they face significant challenges in realizing the full potential of the data they collect. Acceldata operates as one integrated data observability solution, setting it apart from competitors.

“Most companies don’t have the expertise and resources to effectively manage their enterprise data systems,” said Rohit Choudhary, Acceldata’s CEO and Co-Founder. “Our Data Observability Cloud is purpose-built to help businesses simplify complex data operations, expand data usage, and meet growing business requirements, all while reducing costs and increasing data engineering productivity. This investment from leading enterprise software VCs validates Acceldata’s vision. From day one, Acceldata focused on improving access to comprehensive data observability capabilities that improve data pipeline reliability and performance, while increasing data engineering team productivity.”

“Acceldata leads the market with a cloud platform that delivers true data observability that is continuous and comprehensive for complex enterprises” said George Mathew, Managing Director, Insight Partners. “Acceldata is unique because it handles data at rest as well as data in motion through the entire data pipeline with an enterprise architecture that is data source, infrastructure, and cloud provider-agnostic.”

In October 2020, when Acceldata raised its Series A round led by Sorenson Ventures, the company had tripled its revenue from 2019 to 2020 and added a variety of new Global 2000 customers, including Oracle, PubMatic, and True Digital, among many others. Acceldata now has customers in eight countries and more than 100 employees across the world.

“Data pipelines are like modern supply chains for digital information. When they break, business grinds to a halt. Yet no one was providing an effective data observability stack, and most companies don’t have the time, resources, or capabilities to build their own.” said Ashwin Rajeeva, Acceldata’s Co-Founder and CTO. “Our mission is to provide complete data observability, so businesses can focus on growing their revenue by building great products and customer relationships.”

About Acceldata:
Founded in 2018, Palo Alto, CA-based Acceldata has developed the world’s first enterprise Data Observability Cloud to help enterprises transform their data systems from unreliable, hard-to-scale, and expensive to stable, agile, and cost efficient. Acceldata’s products have been embraced by global customers, such as Oracle, PubMatic, PhonePe (Walmart), Pratt & Whitney, DBS, and many more. Investors in Acceldata include Insight Partners, March Capital, Lightspeed, Sorenson Ventures, and Emergent Ventures.

About Insight Partners:
Insight Partners is a leading global venture capital and private equity firm investing in high-growth technology and software ScaleUp companies that are driving transformative change in their industries. Founded in 1995, Insight Partners has invested in more than 400 companies worldwide and has raised through a series of funds more than $30 billion in capital commitments. Insight’s mission is to find, fund, and work successfully with visionary executives, providing them with practical, hands-on software expertise to foster long-term success. Across its people and its portfolio, Insight encourages a culture around a belief that ScaleUp companies and growth create opportunity for all. For more information on Insight and all its investments, visit insightpartners.com or follow us on Twitter @insightpartners.

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BEIJING, Sept. 28, 2021 /PRNewswire/ — Xiaokang society, or “a moderately prosperous society in all respects,” is a term that carries a long-cherished dream of the Chinese nation. On July 1, China announced achieving its first centenary goal of building such a society. But what does it mean for a country of 1.4 billion people and the world at large?

A white paper titled “China’s Epic Journey from Poverty to Prosperity” released on Tuesday has the answers.

By the Chinese people, for the Chinese nation

In the traditional Confucian sense, Xiaokang is a state wherein, despite imperfections, everyone is adequately provided for. It was reintroduced into political discourse in the 1970s, and the Communist Party of China (CPC) has since led efforts to turn this concept into reality.

It is a “critical step towards national rejuvenation,” according to the white paper.

After realizing Xiaokang, China has turned to the second centenary goal of building a modern socialist country in an all-round way by the middle of the century to celebrate the centenary of the People’s Republic of China.

Noting that all-round development is essential to moderate prosperity, the paper details the progress made in economic, political, cultural, social and eco-environmental fields in the process of building a moderately prosperous society.

For example, China’s economic strength has increased significantly, with its GDP soaring to about 101.6 trillion yuan (about $15.7 trillion) last year from 67.9 billion yuan ($10.53 billion) in 1952.

The paper also highlights the concept of “prosperity for all,” where all people share the fruits of development and “no individual, region or ethnic group is left behind” in this kind of society.

The living standards of the poor have risen substantially, achievements in rural infrastructure are great, and a new urban-rural relationship is taking shape, according to the paper.

Carrying tremendous global weight

As for the significance of Xiaokang society for the progress of mankind, the paper explains that a more prosperous and stable China – the world’s most populous and largest developing country – contributes to world peace and development in its own right.

In achieving a moderately prosperous society, China has helped to dramatically reduce the world’s poverty-stricken population, it said.

In February, President Xi Jinping announced China’s eradication of extreme poverty, saying that more than 10 million impoverished people were lifted out of poverty on average each year since the 18th National Congress of the CPC in 2012.

This means that China met the poverty eradication target set in the United Nations 2030 Agenda for Sustainable Development 10 years ahead of schedule.

Meanwhile, the paper noted that China’s mutually beneficial opening-up policy will help build an even more open economy, so as to provide other countries with more opportunities in markets, investment and growth.

China’s experience offers a new option for those countries and peoples who are looking for both rapid growth and independence, said the paper.

https://news.cgtn.com/news/2021-09-28/China-issues-white-paper-about-achieving-moderately-prosperous-society-13UWW5MBRD2/index.html