Category Archives: Tenaya Capital

GoodData Gets $25 Million for Business Intelligence Tools

Image representing GoodData as depicted in Cru...

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 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“It’s time to pull the plug on the old business intelligence model — it’s clear that it is obsolete,” said Roman Stanek, founder and CEO of GoodData.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.”

Keating Capital Invests $5 Million in SilkRoad Technology

Image representing SilkRoad technology as depi...

Keating Capital, Inc. announced that it has made a $5 million investment in the Series C Convertible Preferred Stock round of SilkRoad Technology Holdings, Inc. (“SilkRoad”). Keating joined new investor, NTT Finance, and existing investors, including Azure Capital, Crosslink Capital, Foundation Capital and Tenaya Capital, in the Series C financing round which raised a total of $35 million.

Founded in 2003 and headquartered in Chicago, Illinois, SilkRoad is a global provider of cloud-based social talent management software, including tools for human resource management systems, recruiting, onboarding, learning, and performance management. SilkRoad’s comprehensive suite of human resource management solutions, the SilkRoad® Life Suite® product line, assists companies with managing the entire employee life cycle from pre-hire to retire.

SilkRoad was founded by technology entrepreneur Flip Filipowski, who previously started Platinum Technology, a database management company that completed an IPO and was subsequently sold to Computer Associates in 1999.

SilkRoad has recently been recognized with a bronze medal in the 2012 Stevie® Awards for the Innovation in Customer Service category and was named as a finalist in the 2012 CODiE™ Awards for excellence in its software solutions. The Stevie® Awards were created in 2002 to honor and generate public recognition of the achievements and positive contributions of organizations and working professionals worldwide. The CODiE™ Awards recognize excellence in the business software, digital content and education technology industries.

“We believe software as a Service (or “SaaS”) businesses with growing streams of recurring revenue are valuable assets; SilkRoad is one such company operating in the human resources space,” stated Timothy J. Keating, CEO of Keating Capital. “Flip and his team understand from past experience what it takes to transform an idea into a growing private company and beyond. We are delighted to become a direct investor in SilkRoad as they progress the company to the next level,” added Mr. Keating.

SilkRoad is Keating Capital’s third new portfolio company investment in 2012. With this investment, Keating Capital has now made investments of $49.5 million in 17 portfolio companies, including $13.6 million invested year-to-date.