Latin America's Largest Enterprise Software Company TOTVS Leads Series D Investment in GoodData; GoodData to Expand Into $9 Billion Latin American Enterprise Software Market
SÃO PAULO and SAN FRANCISCO – June 12, 2013 –TOTVS Ventures, the investment arm of TOTVS S.A. (BM&FBOVESPA: TOTS3), the largest enterprise software company in Latin America* and the sixth-largest enterprise software company in the world*, today announced that it is leading a $22 million Series D Investment inGoodData. GoodData is a San Francisco-based provider of cloud-based big data analytics platform and applications.
TOTVS Ventures joins existing GoodData investors Andreessen Horowitz, General Catalyst Partners, Next World Capital and Tenaya Capital, who also participated in the latest round. This marks the beginning of TOTVS Ventures' investments outside Brazil.
As part of the agreement, GoodData gains access to the $9 billion Latin America software market through TOTVS's distribution channel in 24 markets throughout the region. The partnership provides TOTVS with exclusive access to GoodData's powerful Big Data platform in Latin America, delivering maximum value for both companies.
"By combining GoodData's intuitive analytics with our market-leading enterprise software, we are creating the cloud analytics leader in Latin America and giving access to Big Data solutions to our clients in Latin America," said Alexandre Dinkelmann, executive vice president of strategy and finance at TOTVS. "We see enormous benefit for TOTVS's customers, who now have access to the most innovative and advanced business intelligence platform."
GoodData is an on-demand business intelligence service that lets business people turn data into immediate advantage. Customers can clearly understand and tell the compelling, factual stories their team needs to win. Designed for business users, business analysts and IT professionals, GoodData delivers self-service dashboards and reports, advanced tools for building custom metrics, proven scale and security, and no hardware or software to integrate or manage.
"We founded GoodData as a cloud company because cloud has no barriers to scale or new markets," said Roman Stanek, founder and CEO of GoodData. "We're now taking GoodData to the next step: leveraging TOTVS's dominant position in the region to extend our U.S. leadership to the $9 billion Latin America software market."
The global partnership builds on GoodData's success in the United States. In the first quarter of this year, GoodData tripled revenue and added marquee customers including Comcast Cable, Lenovo, Switchfly and Universal McCann. Founded in 2007, GoodData has 20,000 active clients and 51 "PoweredBy" partners, which embed its on-demand business intelligence platform into their services. The funding will enable GoodData to hire employees, expand into new markets in Latin America, and increase investments in R&D and marketing.
This latest round raises GoodData's total funding to $75.5 million. TOTVS's Alexandre Dinkelmann will join GoodData's board of directors.
About TOTVS and TOTVS Ventures
TOTVS is the largest enterprise software, services and technology company in Brazil and Latin America. The company is the sixth largest developer of integrated management systems software globally and the first information technology company in Latin America to go public. TOTVS was founded in 1983 and is headquartered in São Paulo.
TOTVS provides enterprise resource planning (ERP), business analytics, customer relationship management (CRM,) human capital management (HCM) and collaboration software that help small, medium-sized and large businesses boost efficiency and productivity. TOTVS offers a wide portfolio of solutions that are optimized to take advantage of mobile and social innovation that have been tailored to meet the specific needs of several markets, including agribusiness, construction, distribution and logistics, education, financial services, legal, manufacturing, health, services and retail. In addition, TOTVS provides consulting and integration services that include business process optimization and cloud computing solutions.
TOTVS Ventures is the Corporate Venture arm of TOTVS, built to leverage value creation from investments in high growth companies with potential synergies with the operating company. TOTVS Ventures was created in mid 2012 and began its operations in January 2013 with an investment in uMov.me, a Brazilian startup that offers a mobile platform for non-developers.