From the Wires
GoodData Increases Revenue Fivefold for Fiscal Year 2012
8,000 Businesses Adopted GoodData to Monetize Big Data
Jan. 30, 2013 11:13 AM
SAN FRANCISCO, CA -- (Marketwire) -- 01/30/13 -- Today, GoodData® announced that in 2012 it increased revenue fivefold and customers three times over the same period a year ago. The accelerated growth was a reflection of GoodData's ability to enable 8,000 global organizations such as NewRelic, Pandora, Time Warner Cable and Zendesk to monetize their data. The company also closed $25 million in funding in 2012 to fuel its sales and marketing operations and more than doubled its employee count, bringing the total number of employees to 230.
"Last year was a breakthrough year, with massive adoption from customers eager to chart their way to success using our cloud and big data technology," said Roman Stanek, CEO and Founder of GoodData. "With our industry-leading platform and apps, GoodData is poised to disrupt the big enterprise incumbents. Customers now have a completely new, flexible and innovative approach to making great business decisions and monetizing big data."
Rapid Growth
In 2012, GoodData increased revenue fivefold from the year before and the company closed more than 40 six-figure deals throughout the year.
During the third quarter of 2012, GoodData raised $25 million in Series C funding led by Tenaya Capital and Next World Capital, bringing the total raised to date to $53.5 million. GoodData is investing the new funding in technology innovation as well as in building sales and marketing programs to accelerate adoption of its disruptive big data monetization strategy and solutions.
Accelerated Adoption
During 2012, GoodData's apps and technology enabled 8,000 customers, up from 2,700 at the end of 2011, to discern meaning from massive amounts of data and find new ways to boost sales and profit. Notable new and expanded customers during the year included Coverity, Fleetmatics, Gallagher Benefits Services, NewRelic, Redbubble, Stand for Children, Thrillist, Time Warner Cable, O1 Works, and Voalte.
From managing sales efficiency within a 4,000-person sales organization, to ensuring the helpdesk responsiveness inside a newly public technology company, GoodData has served as the go-to platform for transforming big data into insight that can be acted on. Customers continue to use GoodData to achieve their business goals such as growing media distribution, increasing social outreach, helping customers gain a deeper understanding of their customers, improving online education, and enabling small businesses to grow faster.
"Powered By GoodData" Partner Program Adoption
In 2012, GoodData grew "Powered by GoodData" partner program revenue by nearly 500 percent and more than doubled the number of partners. Throughout the year, partners were signed and launched across diverse use cases ranging from social commerce, studio management, brand measurement, to subscription billing management.
Select partnerships include Advantix Solution Group, Allocadia, Get Satisfaction, iPipeline, Marketron, Mindbody, Mindflash Technologies, RevStream, ServiceSource, Think Passenger, Zendesk and Zuora.
Big Data Market Outlook
The big data market is expected to grow more than 32 percent year over year, to reach $23.8 billion in 2016, according to market research from IDC. IDC also predicts that the market to analyze that data will be $51 billion the same year (1). GoodData is poised to capitalize on that opportunity, with industry-leading technology, best-in-class team and accelerated market momentum.
"We expect 2013 to be a big year for GoodData," said Stanek. "Businesses have been seeking ways to convert data into meaning and meaning into insight with a clear business impact. With GoodData's services, customers have an easy, flexible way to chart a clear course to the future. We are excited to continue to lead the way in this new year."
(1) Source: IDC Worldwide Big Data Technology and Services 2012-2016 Forecast, Doc#238746, January 2012, by Dan Vesset et. all.
About GoodData
GoodData provides a cloud-based platform and apps that enable more than 8,000 global businesses to monetize big data. GoodData is headquartered in San Francisco and is backed by Andreessen Horowitz, General Catalyst Partners, Fidelity Growth Partners, Next World Capital, Tenaya Capital and Windcrest Partners. For more information, read our blog, visit our website and follow @gooddata on Twitter.
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