Good Data Corp., a Cambridge, Mass.-based provider of SaaS collaborative business intelligence solutions, has raised $2 million in first-round funding. Backers include Esther Dyson, Tim O'Reilly and Windcrest Partners.
Good Data Corporation, an emerging provider of on-demand (SaaS) collaborative business intelligence solutions, today announced the closing of a seed round of funding totaling $2 million. This initial round of funding will enable the company to deliver a cloud-based platform for mid-size business intelligence projects.
“This is an important step forward for Good Data as we prepare for the public launch of our technology,” said Roman Stanek, founder and CEO of Good Data Corporation. “We have developed a technology that will provide a platform of collaborative analytics and transform what is now a multi-month, costly IT-driven BI project to an easy-to-start, on-demand solution for the business user. I am pleased to have Esther Dyson, Tim O'Reilly and Windcrest Partners join us on this initial funding. We look forward to utilizing the brightest minds in information technology, enterprise software and Web 2.0 as we move forward with our solutions.”
Seed investors include:
Esther Dyson, chairman of EDventure Holdings, long-time industry analyst and an active investor in many start-ups;
Tim O'Reilly, founder and CEO of O'Reilly Media, and longtime Web 2.0 pundit;
Roman Stanek, founder and CEO of Good Data, and former founder and CEO of NetBeans Inc. and Systinet Inc.;
Windcrest Partners, a private investment partnership specializing in venture capital investment. Partner James Gellert will join the company's Board of Directors.
“This is the third time I have invested in a 'Roman Stanek' company,” said Esther Dyson. “Each time he has assembled a great team to focus on a worthy challenge. This time, the focus is delivering bite-sized, use-as-you-go data analytics that will actually get used by normal people. I think of it as the data equivalent of an ATM: You can get the value out when and where you need it.”
“Applications are moving to the cloud. But more importantly, what distinguishes successful cloud applications is the extent to which they harness collective intelligence via user-generated data,” said Tim O'Reilly. “Expertise in analyzing and responding to this data is one of the core competencies of the Web 2.0 era. Good Data provides a foundation for moving business intelligence and analytics to the cloud.”
“Roman's track record at establishing businesses that solve real business problems is substantial,” said Windcrest Partners' James Gellert. “We are delighted to be a part of Good Data and look forward with excitement to the growth of the company.”
About Good Data
Good Data Corporation was founded with the mission to provide a platform for collaborative analytics. The company believes sharing and teamwork allows users to move past isolated reports and arrive at the true meaning of “business intelligence.” Development of the underlying technology began in 2002 and is currently in use in large insurance and retail corporations. Good Data is a privately held company with headquarters in