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October 3, 2014

What is GoodData and why Intel is investing $25.7m in it

Intel Capital Director Igor Taber will join the startup's board.

By

Intel is leading a $25.7m funding round into GoodData as the analytics firm reportedly plans for an IPO, which could happen in 2016.

The chip giant’s investment arm, alongside existing investors Andreessen Horowitz, General Catalyst and Tenaya Capital among others, led a Series E funding round for the San Francisco-based startup, which raised a total of $101.2m to date.

As part of the investment, Intel Capital Director Igor Taber will join GoodData’s board.

Jason Waxman, VP of the Data Center Group at Intel, added: "We are just starting to tap the potential of analytics for big data.
"We are investing not only in GoodData’s differentiated, cloud-based analytics solution, but also in the future impact that big data insights can provide across industries."

The funding comes over a year after GoodData, whose customers include Nordstrom, Virgin America and Nordstrom, raised $22m in funding, led by Brazil’s TOTVS.

It also comes at a time when GoodData is preparing plans for an IPO for 2016.

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The firm, which competes against the likes of Tableau, RJMetrics and IBM, sells an analytics platform that allows companies to manage, analyse and visualise big data all from one place.

The startup can also perform predictive analytics and analyse the emotion in text, while its sales app allows sales teams to manage risk, analyse data and share sales tactics.

Roman Stanek, CEO of GoodData, said: "The business intelligence market has reached a new point of maturity, as organisations increasingly analyse data at scale in the cloud. We have always recognised a need in the market for a complete, cloud-based big data platform.

"We’re glad to see validation of our approach from customers and investors with our largest funding round to date."

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