The world needs Good Data
San Francisco (PRWEB) April 28, 2009
Good Data today announced that it has closed its first institutional round of funding with $2.5 million in venture financing led by General Catalyst Partners, with participation from O'Reilly AlphaTech Ventures, Windcrest Partners, Marc Andreessen and Ben Horowitz. This brings the total raised to date to $4.6 million. The financing will enable the company to complete development of the Good Data platform and validate the market opportunity in advance of a commercial launch.
"The world needs Good Data," said Marc Andreessen. "Their simple, low cost approach goes a long way to making analytics available to everyone."
Good Data was founded in 2007 with the mission to provide a platform for collaborative analytics. Since then, the company has built a complete cloud-based business intelligence service hosted on Amazon Web Services. Good Data is available today as a free trial, and is currently being tested by number of BI consultants, SaaS providers and data companies.
"The on demand analytics market opportunity is huge," said Larry Bohn, managing director, General Catalyst. "Roman Stanek has the vision and track record to build Good Data into a leader in the space, and we are excited to partner with him."
"We like how Good Data is using the economics of cloud computing to deliver analytics to a much wider audience," said Mark Jacobsen, Managing Director of O'Reilly AlphaTech Ventures.
About Good Data
Good Data brings businesses closer to data and analysis through a secure space where teams can access, share and collaborate on the data that drives their business. We do this by combining the reach of Web 2.0 with the massive scalability of cloud computing to deliver a new generation of collaborative analytics. It may sound complex, but unlike a lot of business intelligence, Good Data is free to start, simple to use, and costs a whole lot less than you think. Good Data is headquartered in San Francisco, with engineering in the Czech Republic.
About General Catalyst Partners
General Catalyst Partners is a venture capital firm that invests in exceptional entrepreneurs who are building the technology-based companies that will lead innovation and transform industries. Founded in 2000, General Catalyst Partners leverages its principals' extensive operational, business development and technological expertise to provide portfolio companies with a catalyst for success through business-building and partnership development assistance. General Catalyst is headquartered in Cambridge, Mass. For more information, please visit: http://www.generalcatalyst.com.
About O'Reilly AlphaTech Ventures
O'Reilly AlphaTech Ventures (OATV) is in the business of funding disruptors, innovators and hackers of the status quo. OATV is affiliated with O'Reilly Media which, from open source to the early days of the web and its recent resurgence, has played a key role as trend spotter and advocate for putting world-changing technologies on the map.