GoodData, a Cloud based Business Intelligence startup, has landed $25.7 million in Series E funding on Thursday led by Intel Capital and existing investors Andreessen Horowitz, General Catalyst, Tenaya Capital, TOTVS, Next World Capital, Windcrest, and Pharus Capital. The total funding received so far has now gone up to $101.2 million.
Founder and CEO, Roman Stanek told VentureBeat in an interview,“This place is getting serious, so we need to have some real cash to actually be a player.”
According to Ben Kepes, contributor at Forbes, their analytics platform “allows companies to manage, analyze and visualize all from one environment. He adds that “this approach really democratizes data, allowing managers and business people to generate their own insights rather than having to wait for IT departments and data scientists to run queries for them”
Stanek intends to use the funds for marketing and expansion purposes. Intel has been helping the startup meet customers’ privacy needs and comply with regulations. The companies are also collaborating to develop more efficient data-storage techniques, Stanek told VentureBeat.
Based in San Francisco, the company was started in 2007. With a workforce of 300 people, approaching 400 within a year, Stanek claims to have more than 40,000 customers, including Bonobos, Hootsuite, HP, Virgin America, and Zendesk.
Read more here
(Image Credit: knowmadic news)
