GoodData racked up $25 million in a third round of funding for its big data analytics service.
GoodData offers operational dashboards, metrics and performance reports, data storage, analytics, and collaboration tools in a single platform. The company focuses on user experience, so all the tricky, technical elements of big data are comprehensible to people outside of IT teams.
“Big data is a very fragmented enterprise space with a lot of noise, but we are different from everyone else,” said CEO Roman Stanek in an interview with VentureBeat. “We sell business solutions to business people. We offer an end-to-end solution and we tailor to consumers, rather than selling infrastructure to techies.”
Stanck emphasized that GoodData also sells marketing and sales services, so companies do not have to source business intelligence solutions from multiple vendors. The technology is embedded into the browser and run on a pay-as-you-go system, which benefits startups that lack the ability to shell out for expensive infrastructure or are hesitant to pay a large-up front fee.
Since the company was founded, over 6,000 customers have adopted GoodData, and the company has seen dramatic revenue growth of 500% year over year.
“The beauty of business intelligence is it is extremely horizontal, every company needs analytics,” Stanek said. “But we are not selling horizontal technology. We are investing in additional domains like enterprise and retail.”
The latest round of funding will go towards building sales and marketing. It was led by Tenaya Capital, with participation from new investor Next World Capital and existing investors Andreessen Horowitz, General Catalyst Partners, Fidelity Growth Partners, and Windcrest Partners. The company received $15 million in 2011 and has raised $53.5 million in total investment. It was founded in the Czech Republic in 2007 and is now based in San Francisco. It has 180 employees.