GoodData, a provider of data-as-a-service (DaaS) analytics infrastructure, closed a $45 million credit facility from J.P. Morgan. Building on its recent adoption momentum and the release of the GoodData Cloud Native platform, GoodData will use this new financing to grow its global sales and engineering teams while continuing to invest in building solutions for enterprise-grade analytics.
“We are excited to support GoodData with this new $45 million credit facility and be part of the company’s growth story,” Jason Fournier, industry executive for technology and disruptive commerce at J.P. Morgan, said. “With this financing, GoodData will be able to continue creating analytics solutions and grow their skilled engineering team to help more enterprises unlock true data-driven decision making.”
GoodData reported nine times recurring revenue growth from its self-service channel in 2020 and entered a partnership with Visa.
“The shift to a cloud-native enterprise data infrastructure is akin to the world moving from steam to electricity. It’s a paradigm shift, and we’re using this new support from J.P. Morgan to continue helping our enterprise customers adopt data-as-a-service and stay competitive,” Roman Stanek, CEO and founder of GoodData, said. “We’re also now in a position to expand our world-class global sales team and engineering team globally, scale our product and sales operations and double down on bringing cloud-native enterprise solutions to market.”
Radovan Janecek, senior vice president of GoodData, will lead the global engineering teams. The new financing will aid in Janecek’s work of increasing his team’s size by 20%, building enterprise-scale DaaS tools and helping more organizations adopt cloud-native analytics.
“The initial release of GoodData.CN sparked an unprecedented amount of interest in cloud-native analytics infrastructure,” Janecek said. “This financing allows us to build on that momentum and stay two steps ahead of analytics’ trajectory as we have been since our first cloud-native offering. We are excited to keep growing our world-class engineering teams.”
