Leena Rao is currently working as a writer for TechCrunch. She recently finished graduate school of the Medill School of journalism at Northwestern University, where she studied business journalism and videography. From 2004 to 2007 she helped lead efforts for advocacy and community relationships Congressman Carloyn Maloney in New York. She graduated from Columbia University in 2003 where it was ... ? Read More
GoodData startup company that provides a platform for cloud-based business intelligence (BI) raised $ 15 million in financing led by Andreessen Horowitz with existing investors General Catalyst partners, fidelity growth partners and Windcrest, also contributes to the round. This investment brings total financing GoodData to $ 28.5 million. The company also added two new members of the Board of Directors: John O'Farrell, general partner at Andreessen Horowitz and Dave Girouard, President of Google Enterprise. In addition it marks Andreessen Horowitz fourth GoodData investments (including two seed investment and 2010).
Founded by serial entrepreneur Roman Stanek, GoodData offers cloud-based data analytics solution that is more economically efficient than similar products from IBM, SAP and Oracle. The company mainly GoodData can connect product in their own cloud-based SaaS (i.e. Salesforce, Zendesk) and then access to operational dashboards, advanced reporting and data storage.
In addition to the just structuring data, GoodData also gives the company best practices and actionable insights based on data, add a layer of intelligence. The company has a number of Analytics apps for SaaS products, including the Zendesk, Twilio, Pardot and get satisfaction, which offers these companies additional reporting. The company currently offers 20 application and will expand more SaaS platform with new funding. The company plans to add another 30 applications by the end of the year.
Stanek tells us that GoodData is disrupting BI $ 25 billion and storage space, because the earlier data intelligence used to be a complex process. But as more companies rely on cloud applications to business functions such as sales, customer service and much more, access and understanding of this huge amount of data on the basis of the cloud became simplified process that took minutes, he explains.
And GoodData sacrificed seeing traction in the enterprise space. Over 2500 companies, including Software AG, Time Warner Cable, Capgemini and Pandora media, relied on data intelligence, GoodData products. The company saw a 500% increase in the overall use of the platform in the 2011 alone and currently manages more than 6500 customers data Mark. And more than 2 million records were executed on a platform of BI cloud GoodData in July this year.
Add the main Enterprise Google, Girouard, the Council is quite a significant vote of confidence to launch. Girouard, who will advise the company to develop products, services and sales cloud, said: "GoodData GoodData is an amazing opportunity to build a huge business. Cloud computing and Analytics is a killer and GoodData provides unique and promising approach to lead in this market. "
O'Farrell Andreessen Horowitz also bullish on GoodData, tells us that he sees run to become the company billions of dollars. He explains that because the mass market continued to move to the cloud, there's still so much more potential for cloud-based business as GoodData that extract valuable information from the data cloud. "This is what business will spend a lot of money on," said O'Farrell.
O'Farrell also made an interesting point about the business intelligence space as a whole. He said there was a low barrier of entry in the space, but GoodData goes beyond just providing charts and data visualization tools offers a powerful platform, actually gives companies actionable insight from all of their business data. This, he said, creates a high barrier to entry, and be able help GoodData.
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