GoodData, a Czech cloud-based business intelligence provider, announced a 22-million-dollar investment by the Latin American enterprise software company TOTVS last week. The investment will allow GoodData to enter the 9-billion-dollar Latin American enterprise software market, and give TOTVS access to its Big Data platform.
The series D round raises GoodData’s total investments to 75,5 million dollars since 2008. Its investors include General Catalyst Partners, Andreessen Horowitz, Fidelity Growth Partners Europe, Tenaya Capital, OATV, and now also TOTVS Ventures, the investment arm of TOTVS. More information on the company’s profile is available here.
GoodData offers cloud based on-demand business intelligence services for business users, analysts and IT professionals. Serial entrepreneur Roman Stanek founded GoodData in the Czech Republic in 2007, looking back on an impressive entrepreneurial track record: he was founder and CEO of NetBeans (acquired by Sun Microsystems) and Systinet (eventually acquired by Hewlett Packard). His goal was to overcome the traditional limitations of business intelligence solutions. “We founded GoodData as a cloud company because cloud has no barriers to scale or new markets,” said Stanek.
GoodData now counts over 20,000 global clients and 51 “powered by” partners including zendesk and Brightidea. GoodData moved its corporate headquarters to San Francisco and is now operating from the US and the Czech Republic. The US market entry proved to be a success: GoodData tripled its revenues in Q1 of 2013 and got clients such as Comcast Cable and Lenovo on board. Also, GoodData established operations in Australia and set foot in the Asia Pacific market in 2012.