GoodData has the perfect DNA to disrupt the business intelligence space
San Francisco, CA (PRWEB) August 18, 2011
GoodData, provider of the world’s most powerful cloud business intelligence (BI) platform, today announced the company has closed $15 million in new venture financing, bringing the total raised to date to $28.5 million. It has also added two new members to the Board of Directors: John O’Farrell, General Partner at Andreessen Horowitz, and Dave Girouard, President of Google Enterprise.
Andreessen Horowitz led the financing, with existing investors General Catalyst Partners, Fidelity Growth Partners and Windcrest Partners also contributing.
GoodData will use the new funding to accelerate its efforts to disrupt the $25 billion business intelligence and data warehousing market and continue to seamlessly connect business people to business data. Over 2,500 companies, including Software AG, Time Warner Cable, Capgemini and Pandora Media rely on GoodData’s operational dashboards, advanced analytics and on-demand data warehousing capabilities to more effectively measure their business results.
The funds will enable GoodData to create new analytics apps and expand its Powered by GoodData partner network, helping derive value from the tremendous amount of valuable customer data already resident in the cloud. Leading software-as-a-service and cloud providers like Zendesk, Twilio, Pardot, and Get Satisfaction offer their customers world-class analytics apps built on GoodData’s flexible and comprehensive cloud BI platform.
Mr. Girouard and Mr. O’Farrell bring expertise in disruptive cloud technology, business development and market penetration that makes them a natural fit for the Board of Directors at GoodData. Mr. Girouard will provide invaluable counsel to GoodData on product development, service delivery and sales of cloud services to companies of all sizes. Mr. O’Farrell will contribute his extensive experience in business development to guide further strategic expansion of GoodData in new and existing markets.
Since the company’s commercial launch in 2009, GoodData has become the world's fastest growing BI platform, experiencing over 500% growth in overall platform usage in 2011 alone. GoodData currently manages over 6,500 unique customer data marts, and more than 2 million reports were executed on the GoodData cloud BI platform in July of this year. Increasing support from leading venture capital firms, customers, and trusted partners further validates the growing market need for GoodData’s transformative approach to BI.
Comments on the News
"We are thrilled to lead the investment in GoodData. Unlike incumbents that are now trying to redesign their software for the cloud, GoodData has built a flexible, open BI platform from the ground up to truly leverage the promise of cloud computing. The company's performance to date has been stellar, but what really stands out is that GoodData has the perfect DNA to disrupt the business intelligence space, which we all know is in desperate need of reinvention. This is a fantastic opportunity." - John O'Farrell, general partner at Andreessen Horowitz. Read more about John O’Farrell and GoodData here.
"GoodData has an amazing opportunity to build a huge business. Cloud computing and analytics is a killer combination, and GoodData has taken a unique and promising approach to leading in this market." - Dave Girouard, President of Google Enterprise
"We could not have dreamed of a better partner than Andreessen Horowitz to help us accelerate the growth of GoodData. We are already the leading BI and data warehousing platform in the cloud. Now it’s time to grow our lead as we help our users leverage their data to meet their business needs." - Roman Stanek, GoodData Founder and CEO. Read more from Roman Stanek here.
GoodData offers the world’s most powerful Cloud BI Platform, providing our customers and partners with operational dashboards, advanced reporting and data warehousing at a fraction of the cost and complexity of other approaches. GoodData is trusted by companies like Enterasys Networks, Capgemini, and Software AG, and embedded into offerings from cloud innovators like Zendesk, Get Satisfaction and Pardot. GoodData is headquartered in San Francisco and located in the cloud at http://www.gooddata.com.
About Andreessen Horowitz
Andreessen Horowitz is a stage-agnostic venture capital firm that provides seed, venture and growth-stage funding to the best new technology companies. Founded by Marc Andreessen and Ben Horowitz, Andreessen Horowitz helps entrepreneurs become successful CEOs and build important and enduring companies. Its general partners are Marc Andreessen, Ben Horowitz, John O Farrell and Scott Weiss, all widely recognized experts in the creation, scaling, and operation of high growth technology companies. The firm has $1.2 billion under management across two funds. Among its 30 investments are Facebook, Foursquare, Groupon, Skype, Twitter, and Zynga. The firm was established in June 2009 and is located in Menlo Park, CA.