The Cloud

GoodData Secures $26M in Funding

Big-data analytics firm GoodData raises capital in a Series E round led by Intel.
Iris DorbianOctober 2, 2014
GoodData Secures $26M in Funding

Tech news site TechCrunch is reporting that San Francisco-based big-data analytics firm GoodData has snagged $25.7 million in Series E funding. Intel Capital, Intel’s investment arm, led the round with participation from previous backers Andreessen Horowitz, General Catalyst, Tenaya Capital, TOTVS, Next World Capital, Windcrest and Pharus Capital.

The investment comes at a time when GoodData is supposedly contemplating going public in 2016, says TechCrunch.

It also comes as big data analytics is booming and the market is now inundated. In addition to GoodData, which was originally founded in the Czech Republic, other movers and shakers in this category are RJMetrics Chartio, Business Objects, Domo and Tableau.

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The company targets business users and executives “who need answers to big picture questions fast; as well as business analysts looking for more granular insight.”

Intel Capital’s role in the funding makes TechCrunch muse on the benefits that would accrue for GoodData if Intel acquired it. However, Roman Stanek, CEO of GoodData, says there are no such plans in the works even though Intel Capital’s Igor Taber has been added to the firm’s board as a result of the transaction.

But he does freely admit that “GoodData will gain exposure to Intel Capital’s breadth and depth of big data, data-center, security and other technology expertise.”

TechCrunch speculates that even though the market is exploding right now, this type of acquisition is probably not yet viable considering the space is still relatively new and nascent.

“We’re just starting to tap the potential of analytics for big data,” said Jason P. Waxman, vice president of Intel’s data center group and general manager of its cloud platforms group, in a statement. “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.”

This latest capital infusion raises the company’s overall funding to $101.2 million. Previously, in June 2013, GoodData received $22 million in a round in which TOTVS was the lead backer.

Source: TechCrunch: Big Data Analytics Go Large: GoodData Gets $25.7M Led By Intel, Eyes Up 2016 IPO