Cloud Computing: GoodData Raises $25 Million

Grazed from Sys Con Media. Author: Maureen O’Gara.

GoodData and its Cloud BI Platform, which got started in the Czech Republic, have closed a $25 million C round from Tenaya Capital, along with Next World Capital and existing investors Andreessen Horowitz, General Catalyst Partners, Fidelity Growth Partners and Windcrest Partners. Tenaya, the old Lehman Brothers Venture Partners, gets a board seat.

The Big Data analytics start-up has raised $53.5 million to date.

It claims more than 6,000 customers, including Capgemini and Software AG, have adopted its widgetry to monetize their data and says it posted 600% bookings growth last year, more than doubling employees and customers…

GoodData will use the new funding to invest in technology and build sales and marketing programs to raise awareness and accelerate adoption of its platform.

CEO Roman Stanek says, "It’s time to pull the plug on the old business intelligence model – it’s clear that it is obsolete. We are pioneering a new approach to business intelligence that will monetize and bring Big Data to life." It provides operational dashboards, advanced reporting and data warehousing that are integrated into third-party SaaS platforms. It’s supposed to cost less and be less complicated than widgetry from IBM, SAP and Oracle.