GoodData Raises $25M Series E Funding for Cloud-based Analytics Platform
GoodData on Thursday said it has completed a $25.7 million equity financing round for its cloud-based business intelligence platform.
The company’s solution enables business analysts, business managers and IT professionals to turn data into actionable insights by providing features ranging from data capture to visualization. Some of the San Francisco-based tech company’s competitors include Jolicharts, Domo and Chartio.
Intel Capital led the Series E round of financing, with participation from Andreessen Horowitz, General Catalyst, Tenaya Capital, TOTVS, Next World Capital, Windcrest and Pharus Capital.
As part of the investment, Intel Capital Director Igor Taber will join GoodData’s board of directors. The company did not provide any additional details on its relationship with Intel Capital, Intel (INTC)’s global investment organization.
Roman Stanek, co-founder and CEO at GoodData, told Talkin’ Cloud that the company will use the additional funding to “deepen our product to make our customers more successful.” He also said the financing will be used to grow GoodData through distribution, sales and marketing.
GoodData has raised $101.2 million in funds from investors since 2008. Stanek declined to comment on whether or not the company plans to raise additional funding in the future. He also would not comment on GoodData’s financing strategy.
“Unlike point solutions that only solve part of the business intelligence problem, GoodData manages the entire big data pipeline from taking raw data to preparing it for analytics, and finally to providing a seamless visualization environment for a variety of users,” he said. “We do it all securely in the cloud with unmatched time to value and in a way that minimizes complexity for the user.”
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