e6data cashes in $10M in Series A funding led by Accel
e6data is looking to tap into the data and AI solutions market, which is slated to touch $230 billion in 2025.
Enterprise software provider e6data has raised $10 million in a Series A funding round led by Accel, along with participation from Beenext.
“This rapid increase has made data intelligence platforms the second largest IT spending category—behind only cloud spend for operational systems and application infrastructure," said Vishnu Vasanth, Co-founder and CEO, e6data.
“With GenAI, enterprises are seeing a surge in analytics use cases. Over the next few years, we expect every individual in an organisation to be a power data consumer, implying a higher load on analytics and compute infrastructure. We believe e6data is primed to leverage and accelerate this movement,” highlighted Shekhar Kirani, Partner at Accel.
To navigate costly AI solutions, e6data has launched an advanced compute engine for data intelligence platforms that works to boost ROI on existing infrastructures. The operation does not require data movement, application migration, or downtime.
"e6data has already signed Fortune 500 enterprises and high-growth companies as customers, with explosive growth expected due to rising demand for compute-intensive workloads," the company said in a press note.
e6data, which counts companies like Freshworks and Chargebee as its customers, is also expanding its Design Partner Programme, which will offer solutions as a managed service with full production support.
Edited by Kanishk Singh