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“It’s time to pull the plug on the old business intelligence model — it’s clear that it is obsolete,” said Roman Stanek, founder and CEO of GoodData.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