During the third quarter, we outperformed on all of our growth metrics, said Roman Stanek, CEO and founder of GoodData.
San Francisco, California (PRWEB) October 29, 2012
Today, GoodData® announced that it continued to deliver breakthrough business results for the third quarter that ended on September 30, 2012. The company tripled bookings year-over-year, and reached 200 employees, up from 180 at the end of last quarter.
“During the third quarter, we outperformed on all of our growth metrics,” said Roman Stanek, CEO and founder of GoodData. “We raised money, disrupted the broken legacy Business Intelligence space with our new BizData Monetization strategy, and invested aggressively in our business operations. We continue to see a dramatic adoption of our analytics solutions as businesses are looking to monetize their growing amounts of Big Data.”
Strong Business Performance
GoodData tripled quarterly bookings year-over-year. Monthly recurring revenue increased by 284 percent in the last 12 months. In addition, the company closed the largest number of six-figure deals in its history.
Notable new and expanded customer relationships during the quarter included 4Finance, ClearChannel, Compare Networks, Electronic Arts, eNova, Get Satisfaction, GradesFirst, iPipeline, Jawbone and PageUp People. These companies are adopting GoodData to achieve significant competitive advantage by unlocking new opportunities to monetize their data.
“At Urban Airship it’s crucial that we understand our customers and get insight into our operations real-time to respond to changing market needs and dynamics,” said Laurie Moulton, CFO and VP of Finance at Urban Airship. “GoodData will help us bring stronger analytics and get insights into our customers and operations, enabling us to make smarter business decisions.”
During the third quarter, GoodData raised $25 million in Series C funding led by Tenaya Capital and Next World Capital, bringing the total raised to date to $53.5 million. GoodData plans to use the new funding to invest in technology innovation as well as build sales and marketing programs to raise awareness and accelerate adoption of its disruptive BizData Monetization strategy and solutions.
Powered By Partner Program Adoption
GoodData’s Powered By partner program continued to see strong adoption during the third quarter, achieving 350 percent growth year-over-year. New partners in the quarter included Gannett, GradesFirst, Group Commerce, iPipeline, Scale Funder, ServiceSource and Zuora, while Bolder Thinking, CompareNetworks, Coupa, Genius and Group Commerce launched their offerings to customers or deepened their partnerships with GoodData. The GoodData Powered By program currently includes nearly 100 partners, serving analytics to thousands of end customers.
"We partner with GoodData to embed rich dashboards and analytics into the Group Commerce platform,” said Dan Melinger, Product Manager at Group Commerce. “This allows us to provide serious business value to our customers by answering their call to monetize their data; with GoodData's Powered By partner program, we have big things in store."
New Strategy and Products
During the quarter, GoodData unveiled its BizData Monetization strategy, a new strategy for empowering businesses to find sources of revenue and profit from big data. In addition, the company made its most strategic product announcement to date, introducing three new Bashes, business analytics mashups that combine reports, analytics, apps, key performance indicators and best practices into a visually-stunning user interface. The new Bashes include the GoodMarketing Bash™, the GoodSales Bash™ and the GoodSubscription Bash™.
About BizData Monetization (BDM)
BDM is a new strategy for empowering enterprises to find sources of revenue and profit from BizData, Big Data that is relevant to business. BDM connects information silos — including mobile, social web, internal data and cloud apps — to provide all the relevant insight business users need to make better and faster decisions. Information is delivered in a compelling, easy to use GoodData Bash™, a business mashup, that combine reports, analytics, apps, key performance indicators and best practices into a visually-stunning user interface. BDM is a rapidly growing category part of the Big Data market, which is estimated at $100 billion by Merrill Lynch.
GoodData provides a cloud-based platform that enables more than 6,000 global businesses to monetize big data. GoodData is headquartered in San Francisco and is backed by Andreessen Horowitz, General Catalyst Partners, Fidelity Growth Partners, Next World Capital, Tenaya Capital and Windcrest Partners.