GoodData Announces $45 Million Credit Facility from J.P. Morgan to Accelerate Enterprise Adoption of Cloud-Native Business Analytics
GoodData, the leader in Data as a Service (DaaS) analytics infrastructure, announced the closing of a $45 million credit facility from J.P. Morgan. Building on the company’s recent adoption momentum and the release of the GoodData Cloud Native platform (GoodData.CN), GoodData will use this new financing to grow its global sales and engineering teams while continuing to invest in building solutions for modern, enterprise-grade analytics.
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“We are excited to support GoodData with this new $45 million credit facility and be part of the company’s growth story,” said Jason Fournier, Industry Executive for Technology & Disruptive Commerce, J.P. Morgan’s Middle Marketing Banking & Specialized Industries business. “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.”
The credit facility comes on the heels of significant momentum for GoodData. The company saw 9x recurring revenue growth from its self-service channel in 2020 and announced an investment and strategic partnership with leading digital payment provider Visa. In May 2021, GoodData was named a key Data Aggregation, Analytics, and Security partner in the prestigious Visa Fintech Partner Connect program. As the industry began to shift to a cloud-native future, GoodData architected and launched an entirely new, modern platform in 2021: GoodData.CN. Unlike the monolithic and batch-oriented business intelligence solutions of the past decades, GoodData.CN represents the next step in the company’s ongoing innovation to bring automated, real-time analytics into the 21st century.
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“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,” said GoodData CEO and Founder Roman Stanek. “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.”
GoodData Platform SVP Radovan Janecek leads the global engineering teams. The new financing will aid in Janecek’s work increasing his team’s size by 20 percent, building enterprise-scale DaaS tools, and helping more organizations adopt modern, cloud-native analytics.
“The initial release of GoodData.CN sparked an unprecedented amount of interest in cloud-native analytics infrastructure,” said Janecek. “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.”