Luminaries back cloud business intelligence, $2.5 Million in additional financing closes seed round
GoodData today announced that it has closed its seed funding round, adding an additional $2.5 million in new capital. The company added Andreessen Horowitz to its list of venture investors, joining General Catalyst Partners and O’Reilly AlphaTech Ventures. The financing further validates GoodData’s approach of building a robust cloud BI platform, and will support the commercial launch of GoodData after a successful public beta program which drew over 2,000 customers.
“GoodData is one of our personal investments we wanted to convert into our venture fund because we believe so strongly in the disruption of analytics in the cloud,” said Marc Andreessen.
Tim O’Reilly, founder and ceo of O’Reilly Media, legendary thought leader and father of Web 2.0, has joined the GoodData board of directors, guiding the company’s strategy to make cloud BI critical to every organization. GoodData’s board of directors consists of the following:
“There are a million cool analytics and visualization technologies out there to play with,” said Tim O’Reilly. “But if you want to gain immediate insight out of your data, you have to try GoodData.”
GoodData was founded in 2007 with the mission of transforming business intelligence from a luxury good only available to billion-dollar companies to a service every company can use to make data-driven business decisions. Since its founding, the company has built a complete cloud-based business intelligence service hosted on Amazon Web Services, and introduced customer analytics applications for NetSuite and Salesforce.
GoodData uses Cloud BI to put the customer at the center of how you understand your business. For businesses, this means an easy way to analyze customer data across CRM, marketing, support and other systems, report on what’s working, and identify successful customer relationships. Technical users get a cloud-based business intelligence service to securely host data from any source, build interactive dashboards and reports, perform ad hoc analysis and collaborate around the results. It may sound complex, but unlike a lot of business intelligence, GoodData is free to start, simple to use, and costs a whole lot less than you think. GoodData is headquartered in San Francisco, but located in the cloud at http://www.gooddata.com