Tenaya Capital led a $25 million Series C round for GoodData, maker of a cloud-based ‘big data’ platform. New investor Next World Capital and existing investors Andreessen Horowitz, General Catalyst Partners, Fidelity Growth Partners and Windcrest Partners also contributed. The company has raised $53.5 million in total to date.
GoodData announced today that it has closed $25 million in Series C funding led by Tenaya Capital, with participation from new investor Next World Capital, and existing investors Andreessen Horowitz, General Catalyst Partners, Fidelity Growth Partners and Windcrest Partners. The company has raised $53.5 million in total to date.
Brian Paul, Managing Director at Tenaya Capital will join the board of directors. Other existing board members include John O’Farrell, General Partner at Andreessen Horowitz; Larry Bohn, Managing Director of General Catalyst Partners; James Gellert, Partner at Windcrest Partners, Dave Girouard, former General Manager of Google Enterprise, and Roman Stanek, founder and CEO of GoodData.
Since the company was founded, more than 6,000 customers at leading global organizations have adopted GoodData to monetize their data. In 2011, the company posted 600 percent bookings growth and more than doubled employees and customers, making GoodData one of the fastest growing companies in the space.
GoodData will use the new funding to continue to invest in technology innovation as well as build sales and marketing programs to raise awareness and accelerate adoption of its disruptive, cloud-based platform.
“It’s time to pull the plug on the old business intelligence model — it’s clear that it is obsolete,” said Roman Stanek, founder and CEO of GoodData. “We are pioneering a new approach to business intelligence that will monetize and bring big data to life.”
Comments from Investors:
“Roman and his team have built an exceptional company and pioneered a new generation of business data platform. We are excited to lead this new round and believe that GoodData has the potential to be the winner in a massive $100 billion big data space. We are thrilled to be part of this exciting journey and look forward to seeing continued aggressive growth.”
Brian Paul — Tenaya Capital
“Next World Capital looks to invest in the fastest growing tech companies with disruptive technology and category-leading potential on a global scale. We believe GoodData is the leader in the business data space and we are excited to join this great team and its investors.”
Craig Hanson — Next World Capital
“We are thrilled to welcome Tenaya Capital and Next World Capital to the GoodData team. These firms bring a wealth of knowledge and experience in the enterprise space, which will be key in helping the company as it embarks upon the next phase of its growth.”
Larry Bohn — General Catalyst Partners
“GoodData has the leadership, the product and the aggressive agenda to be a game-changer in the business intelligence space. We continue to be impressed by the company’s ability to overdeliver, reach stretch goals, and stay true to its culture of entrepreneurship and innovation.”
John O’Farrell — Andreessen Horowitz
About Tenaya Capital
Tenaya Capital is a leading venture capital firm with over $1 billion under management. The firm invests in high-growth technology companies in the enterprise software, consumer Internet, IT infrastructure, communications and electronics sectors. Founded as Lehman Brothers Venture Partners, Tenaya Capital became an independent company in 2009. The firm has offices in Woodside, California, and Wellesley, Massachusetts. For more information, visit www.tenayacapital.com.
About Next World Capital
Next World Capital (NWC) is an international expansion-stage venture capital firm that invests in leading enterprise software, mobile and consumer internet companies. NWC has $200 million of assets under management and offices in San Francisco, Paris, and Brussels. The firm brings strategic insight and in-depth sector acumen to help its portfolio companies grow into market leaders. Notably, NWC has a strong heritage in Europe and runs a dedicated business development operation and extensive network to help its companies accelerate growth internationally.
GoodData provides a cloud-based platform that enables more than 6,000 global businesses to monetize big data. GoodData is headquartered in San Francisco and is backed by Andreessen Horowitz, General Catalyst Partners, Fidelity Growth Partners, Next World Capital, Tenaya Capital and Windcrest Partners.