Start-up raises $25m for cloud
business intelligence technology, Tech Crunch reports.
This brings GoodData's total funding to $53.5 million. Founder and CEO Roman Stanek says the investment came from existing investors Andreessen Horowitz, General Catalyst Partners and Fidelity Growth Partners. Windcrest Partners is also contributing to the round.
GoodData offers a cloud-based data analytics service that competes with solutions from companies such as IBM, SAP and Oracle. Its business model is pretty clever, as it markets to the vast ecosystem of software as a service (SaaS) providers that integrate the technology into their own platforms.
Those providers can then offer their own customers access to dashboards, advanced reporting and other features.
The difference is in the apps that the SaaS providers offer from GoodData. Stanek cites as an example how budgets are shifting to digital marketing. Marketers, though, still do not have enough analytics. GoodData provides insights into that data those marketers have in such great volume from social platforms and online campaigns.
“Big data is a very fragmented enterprise space with a lot of noise, but we are different from everyone else,” Venture Beat quotes Stanek as saying.
Stanek emphasised 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 start-ups that lack the ability to shell out for expensive infrastructure or are hesitant to pay a large upfront fee.
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