Cloud Computing: BI Cloud Start-Up Gets Andreessen Horowitz Money
August 18, 2011
GoodData, which claims to be the "first company to truly leverage cloud computing in delivering comprehensive BI capabilities" – as opposed to traditional BI providers who rely on expensive hardware to provide data analytics – has gotten $15 million in Series B funding led by Andreessen Horowitz.
The VC’s general partner John O’Farrell along with Google enterprise president Dave Girouard is joining its board…
The new infusion means the start-up’s gotten $28.5 million to date.
Existing investors General Catalyst Partners, Fidelity Growth Partners and Windcrest Partners contributed to the round.
GoodData says it will use the money to build new analytics apps, expand its partner network and generally accelerate its efforts to disrupt the $25 billion business intelligence and data warehousing market.
It currently claims 2,500 corporate customers, including Software AG, Time Warner Cable and Capgemini.
Girouard is supposed to counsel GoodData on product development, service delivery and sales of cloud services to companies of all sizes.
GoodData launched commercially in 2009 and figures it’s become "the world’s fastest growing BI platform, with 500% growth in overall platform usage in 2011 alone." Of course it’s easy to get that kind of number when you’re starting from zero.
GoodData says it currently manages over 6,500 unique customer data marts, and that more than two million reports were executed on its built-from-the-ground-up cloud BI platform in July.