Cloud BI Startup GoodData Bags $15 Million
Cloud-based business intelligence (BI) startup GoodData has landed $15 million in venture funding, bringing the total it has raised up to $28.5 million.
The funding was led by Andreessen Horowitz, with existing investors General Catalyst Partners, Fidelity Growth Partners and Windcrest Partners also contributing to the latest round.
San Francisco-based GoodData offers BI in a Software as a Service model, providing dashboards, analytics and data warehousing capabilities to businesses as an alternative to traditional on-premises BI platforms.
Since its launch in 2009, GoodData has landed 2,500 customers, including Capgemini, Groupon, Nike and Time Warner Cable. GoodData said that its platform use has grown 500 percent this year. In July the company managed 6,500 unique data marts and produced 2 million reports.
SaaS cloud providers such as Zendesk, Twilio, Pardot and Get Satisfaction offer their own analytics apps that run on the GoodData BI service. GoodData can run analytics against Facebook, Microsoft Dynamics CRM, Salesforce.com and SugarCRM data, among others. The company said it intends to use the additional funding to build new analytics apps and expand its partner network.
GoodData also said it has added two new members to its board of directors: John O'Farrell, general partner at Andreessen Horowitz, and Dave Girouard, president of Google Enterprise.
Posted by Jeffrey Schwartz on 08/18/2011 at 2:03 PM